Arteris, Inc. (NASDAQ:AIP) Short Interest Up 26.4% in June

Arteris, Inc. (NASDAQ:AIP) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 175,800 shares, an increase of 26.4% from the May 31st total of 139,100 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 162,300 shares, the days-to-cover ratio is currently 1.1 days.

Analysts Set New Price Targets

AIP has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Arteris in a report on Friday, May 3rd. Jefferies Financial Group restated a “hold” rating and set a $9.00 target price (down from $11.00) on shares of Arteris in a research report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.40.

Arteris Stock Down 5.5 %

Shares of AIP opened at $7.10 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $7.79 and a 200 day moving average of $6.94. The company has a market cap of $273.21 million, a PE ratio of -6.89 and a beta of 1.11. Arteris has a 52-week low of $4.20 and a 52-week high of $9.54.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. Arteris had a negative net margin of 69.70% and a negative return on equity of 198.35%. The firm had revenue of $12.95 million during the quarter, compared to analyst estimates of $12.60 million. On average, sell-side analysts expect that Arteris will post -0.91 EPS for the current year.

Insider Buying and Selling at Arteris

In other news, VP Paul L. Alpern sold 11,250 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $6.39, for a total value of $71,887.50. Following the completion of the transaction, the vice president now owns 81,042 shares of the company’s stock, valued at $517,858.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Arteris news, CFO Nicholas B. Hawkins sold 10,000 shares of Arteris stock in a transaction on Monday, May 13th. The shares were sold at an average price of $8.01, for a total value of $80,100.00. Following the sale, the chief financial officer now directly owns 242,896 shares in the company, valued at approximately $1,945,596.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Paul L. Alpern sold 11,250 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $6.39, for a total transaction of $71,887.50. Following the transaction, the vice president now directly owns 81,042 shares of the company’s stock, valued at approximately $517,858.38. The disclosure for this sale can be found here. Insiders have sold a total of 82,140 shares of company stock valued at $620,475 over the last ninety days. 33.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arteris

A number of large investors have recently bought and sold shares of the business. Barclays PLC bought a new position in Arteris in the 3rd quarter worth about $120,000. Federated Hermes Inc. grew its stake in Arteris by 8.3% in the third quarter. Federated Hermes Inc. now owns 130,000 shares of the company’s stock worth $846,000 after purchasing an additional 10,000 shares in the last quarter. Algert Global LLC purchased a new position in Arteris during the 3rd quarter worth $142,000. Worth Venture Partners LLC raised its position in Arteris by 22.6% during the 3rd quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock valued at $334,000 after purchasing an additional 9,448 shares in the last quarter. Finally, Citigroup Inc. purchased a new stake in shares of Arteris in the 3rd quarter worth $363,000. Hedge funds and other institutional investors 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.