Arteris, Inc. (NASDAQ:AIP) Short Interest Down 19.8% in September

Arteris, Inc. (NASDAQ:AIP) was the recipient of a significant 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. Currently, 2.8% of the company’s shares are sold short. Based on an average daily volume of 207,300 shares, the days-to-cover ratio is currently 3.2 days.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AIP shares. 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 reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Arteris in a research note on Monday, August 5th.

Arteris Stock Performance

Shares of Arteris stock opened at $7.66 on Friday. The company has a market capitalization of $294.75 million, a PE ratio of -7.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.14 and a current ratio of 1.14. The company has a 50-day simple moving average of $7.68 and a two-hundred day simple moving average of $7.61. Arteris has a one year low of $4.20 and a one year high of $9.54.

Arteris (NASDAQ:AIP) last announced its earnings results on Thursday, August 1st. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The firm had revenue of $14.58 million during the quarter, compared to the consensus estimate of $13.68 million. Arteris had a negative return on equity of 274.66% and a negative net margin of 68.37%. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. Research analysts expect that Arteris will post -0.9 EPS for the current fiscal year.

Insider Activity

In other news, CEO K Charles Janac sold 4,583 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $7.24, for a total transaction of $33,180.92. Following the completion of the sale, the chief executive officer now directly owns 310,758 shares of the company’s stock, valued at $2,249,887.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO K Charles Janac sold 4,583 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $7.24, for a total transaction of $33,180.92. Following the completion of the sale, the chief executive officer now directly owns 310,758 shares of the company’s stock, valued at $2,249,887.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wayne C. Cantwell sold 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $6.95, for a total transaction of $104,250.00. Following the sale, the director now directly owns 243,198 shares of the company’s stock, valued at $1,690,226.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,753 shares of company stock valued at $1,049,619. 33.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arteris

Large investors have recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC raised its holdings in Arteris by 25.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 711,903 shares of the company’s stock worth $5,211,000 after purchasing an additional 143,385 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Arteris by 28.1% during the first quarter. Acadian Asset Management LLC now owns 534,472 shares of the company’s stock valued at $3,911,000 after acquiring an additional 117,312 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Arteris during the second quarter valued at about $580,000. Vanguard Group Inc. increased its holdings in shares of Arteris by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock valued at $8,390,000 after acquiring an additional 3,242 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Arteris during the fourth quarter valued at about $60,000. 64.36% of the stock is currently owned by institutional investors.

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.