Short Interest in Arteris, Inc. (NASDAQ:AIP) Increases By 15.8%

Arteris, Inc. (NASDAQ:AIP - Get Free Report) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 218,000 shares, an increase of 15.8% from the April 15th total of 188,200 shares. Based on an average daily trading volume, of 180,200 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.0% of the company's shares are short sold.

Insiders Place Their Bets

In other news, VP Paul L. Alpern sold 11,250 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $7.25, for a total value of $81,562.50. Following the completion of the sale, the vice president now directly owns 86,839 shares of the company's stock, valued at approximately $629,582.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Arteris news, VP Paul L. Alpern sold 11,250 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.25, for a total transaction of $81,562.50. Following the completion of the transaction, the vice president now owns 86,839 shares of the company's stock, valued at $629,582.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO K Charles Janac sold 10,103 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total value of $71,024.09. Following the completion of the sale, the chief executive officer now owns 318,644 shares in the company, valued at approximately $2,240,067.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,264 shares of company stock worth $572,383. 33.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arteris

A number of hedge funds have recently bought and sold shares of AIP. Victory Capital Management Inc. bought a new stake in Arteris in the fourth quarter worth about $60,000. Ibex Investors LLC purchased a new position in Arteris during the 3rd quarter valued at $99,000. Barclays PLC purchased a new stake in Arteris in the third quarter worth $120,000. Algert Global LLC bought a new stake in shares of Arteris during the third quarter worth $142,000. Finally, Worth Venture Partners LLC grew its holdings in shares of Arteris by 22.6% in the third quarter. Worth Venture Partners LLC now owns 51,301 shares of the company's stock worth $334,000 after purchasing an additional 9,448 shares during the last quarter. Hedge funds and other institutional investors own 64.36% of the company's stock.

Arteris Price Performance

Shares of AIP stock traded up $0.32 on Tuesday, hitting $8.37. 113,747 shares of the stock traded hands, compared to its average volume of 160,769. The firm has a 50 day simple moving average of $7.15 and a two-hundred day simple moving average of $6.31. Arteris has a 52 week low of $4.15 and a 52 week high of $9.54. The firm has a market cap of $322.08 million, a price-to-earnings ratio of -7.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.24 and a quick ratio of 1.24.

Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). The firm had revenue of $12.50 million for the quarter, compared to analysts' expectations of $11.90 million. Arteris had a negative net margin of 69.70% and a negative return on equity of 198.35%. As a group, equities research analysts predict that Arteris will post -0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Rosenblatt Securities restated a "buy" rating and set a $15.00 target price on shares of Arteris in a research note on Friday, May 3rd. Jefferies Financial Group reiterated a "hold" rating and set a $9.00 price objective (down previously from $11.00) on shares of Arteris in a research report on Monday. Finally, Wedbush restated an "outperform" rating and set a $17.00 price target on shares of Arteris in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.40.

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.