Arteris, Inc. (NASDAQ:AIP) Sees Significant Drop in Short Interest

Arteris, Inc. (NASDAQ:AIP) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 666,000 shares, a decline of 19.8% from the August 31st total of 830,300 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily volume of 207,300 shares, the days-to-cover ratio is presently 3.2 days.

Arteris Trading Up 5.3 %

AIP stock opened at $7.77 on Friday. Arteris has a twelve month low of $4.20 and a twelve month high of $9.54. The stock has a market capitalization of $298.98 million, a price-to-earnings ratio of -7.54 and a beta of 1.12. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $7.69 and its two-hundred day simple moving average is $7.60.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). Arteris had a negative return on equity of 274.66% and a negative net margin of 68.37%. The firm had revenue of $14.58 million during the quarter, compared to analysts’ expectations of $13.68 million. During the same period last year, the company earned ($0.25) earnings per share. As a group, analysts anticipate that Arteris will post -0.9 earnings per share for the current year.

Insider Buying and Selling at Arteris

In other news, Director Wayne C. Cantwell sold 15,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $6.95, for a total value of $104,250.00. Following the completion of the sale, the director now directly owns 243,198 shares of the company’s stock, valued at $1,690,226.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Wayne C. Cantwell sold 15,000 shares of Arteris stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.95, for a total transaction of $104,250.00. Following the sale, the director now owns 243,198 shares of the company’s stock, valued at approximately $1,690,226.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul L. Alpern sold 11,250 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $7.24, for a total value of $81,450.00. Following the completion of the transaction, the vice president now directly owns 80,360 shares in the company, valued at $581,806.40. The disclosure for this sale can be found here. Insiders sold a total of 143,753 shares of company stock worth $1,049,619 in the last three months. 33.70% of the stock is currently owned by company insiders.

Institutional Trading of Arteris

A number of large investors have recently made changes to their positions in AIP. Victory Capital Management Inc. bought a new position in Arteris in the fourth quarter worth approximately $60,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Arteris in the 2nd quarter worth $86,000. Algert Global LLC purchased a new stake in shares of Arteris in the 2nd quarter worth $115,000. Rhumbline Advisers increased its stake in shares of Arteris by 2,182.8% during the second quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock valued at $239,000 after buying an additional 30,428 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Arteris during the second quarter valued at $554,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on AIP. Westpark Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Arteris in a research note on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of Arteris in a report on Monday, August 5th.

Arteris Company Profile

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.