Arteris, Inc. (NASDAQ:AIP) Short Interest Update

Arteris, Inc. (NASDAQ:AIP) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 1,331,050 shares, a decrease of 13.2% from the December 31st total of 1,533,042 shares. Currently, 4.6% of the company’s stock are sold short. Based on an average daily volume of 435,587 shares, the days-to-cover ratio is presently 3.1 days. Based on an average daily volume of 435,587 shares, the days-to-cover ratio is presently 3.1 days. Currently, 4.6% of the company’s stock are sold short.

Arteris Stock Performance

Shares of AIP stock opened at $15.17 on Tuesday. The stock’s 50 day simple moving average is $16.28 and its 200 day simple moving average is $12.99. Arteris has a twelve month low of $5.46 and a twelve month high of $19.85. The company has a market capitalization of $662.63 million, a price-to-earnings ratio of -18.28 and a beta of 1.48.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $17.41 million for the quarter, compared to analyst estimates of $17.00 million. On average, analysts forecast that Arteris will post -0.73 EPS for the current fiscal year.

Insider Activity at Arteris

In related news, VP Paul L. Alpern sold 4,318 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $16.89, for a total transaction of $72,931.02. Following the transaction, the vice president directly owned 57,650 shares of the company’s stock, valued at approximately $973,708.50. The trade was a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bayview Legacy, Llc sold 17,884 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $17.84, for a total transaction of $319,050.56. Following the completion of the transaction, the insider owned 9,399,071 shares in the company, valued at approximately $167,679,426.64. This represents a 0.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 616,847 shares of company stock valued at $10,433,593. 33.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Acuitas Investments LLC bought a new stake in shares of Arteris in the second quarter valued at approximately $858,000. Worth Venture Partners LLC bought a new position in Arteris during the second quarter worth $451,000. Franklin Resources Inc. raised its stake in Arteris by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after purchasing an additional 142,936 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Arteris by 143.8% in the 2nd quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock valued at $1,153,000 after purchasing an additional 71,340 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Arteris in the 2nd quarter valued at $254,000. Institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Jefferies Financial Group raised Arteris to a “hold” rating in a research note on Tuesday, October 28th. TD Cowen reaffirmed a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Arteris in a research report on Monday, December 15th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.50.

Arteris Company Profile

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.