Short Interest in Arteris, Inc. (NASDAQ:AIP) Decreases By 21.6%

Arteris, Inc. (NASDAQ:AIP - Get Free Report) was the target of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 302,200 shares, a decrease of 21.6% from the January 31st total of 385,400 shares. Based on an average trading volume of 281,100 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.2% of the company's stock are sold short.

Arteris Stock Performance

Shares of NASDAQ AIP traded up $0.01 during midday trading on Friday, reaching $7.89. 206,807 shares of the company were exchanged, compared to its average volume of 306,116. The stock has a market cap of $323.08 million, a P/E ratio of -9.07 and a beta of 1.21. Arteris has a 1 year low of $5.76 and a 1 year high of $12.64. The stock has a fifty day simple moving average of $10.34 and a 200 day simple moving average of $8.82. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.30.

Arteris (NASDAQ:AIP - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.08). Arteris had a negative net margin of 58.27% and a negative return on equity of 828.71%. The company had revenue of $15.49 million during the quarter, compared to analysts' expectations of $15.34 million. On average, research analysts forecast that Arteris will post -0.73 earnings per share for the current fiscal year.

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Wall Street Analyst Weigh In

Several research firms have commented on AIP. Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 price target on shares of Arteris in a research report on Tuesday, February 18th. Northland Securities lifted their target price on shares of Arteris from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th.

Insider Activity

In related news, VP Paul L. Alpern sold 2,471 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $11.41, for a total value of $28,194.11. Following the transaction, the vice president now directly owns 64,930 shares of the company's stock, valued at $740,851.30. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Nicholas B. Hawkins sold 5,968 shares of Arteris stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.57, for a total transaction of $51,145.76. Following the sale, the chief financial officer now owns 186,123 shares in the company, valued at $1,595,074.11. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,561 shares of company stock worth $3,676,085. 33.70% of the stock is currently owned by insiders.

Institutional Trading of Arteris

Several hedge funds have recently made changes to their positions in AIP. Needham Investment Management LLC boosted its stake in shares of Arteris by 0.4% in the fourth quarter. Needham Investment Management LLC now owns 2,745,000 shares of the company's stock valued at $27,972,000 after buying an additional 10,000 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Arteris by 0.8% in the third quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company's stock valued at $11,201,000 after acquiring an additional 12,375 shares during the period. Samjo Management LLC boosted its position in shares of Arteris by 0.9% during the 4th quarter. Samjo Management LLC now owns 1,157,250 shares of the company's stock worth $11,792,000 after purchasing an additional 10,000 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Arteris by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 597,116 shares of the company's stock worth $4,610,000 after purchasing an additional 36,908 shares during the period. Finally, State Street Corp increased its holdings in shares of Arteris by 18.5% in the 3rd quarter. State Street Corp now owns 410,578 shares of the company's stock valued at $3,170,000 after purchasing an additional 64,081 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company's stock.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.