Arteris Inc (NASDAQ:AIP – Get Rating) was the target of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 231,900 shares, a growth of 47.4% from the January 31st total of 157,300 shares. Based on an average daily volume of 98,100 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.7% of the company’s stock are short sold.
A number of large investors have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in Arteris during the 4th quarter worth approximately $25,000. Citigroup Inc. acquired a new stake in Arteris during the 4th quarter worth approximately $29,000. JPMorgan Chase & Co. acquired a new position in shares of Arteris in the 4th quarter worth approximately $41,000. California State Teachers Retirement System acquired a new position in shares of Arteris in the 4th quarter worth approximately $58,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Arteris in the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 1.10% of the company’s stock.
Several research analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Arteris in a report on Monday, November 22nd. They set a “buy” rating and a $33.00 target price for the company. Zacks Investment Research upgraded shares of Arteris from a “sell” rating to a “hold” rating in a research note on Tuesday, February 1st. BMO Capital Markets began coverage on shares of Arteris in a research report on Monday, November 22nd. They issued a “market perform” rating and a $24.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price objective on shares of Arteris in a research report on Wednesday, December 8th. Finally, Northland Securities initiated coverage on shares of Arteris in a research report on Monday, November 22nd. They set an “outperform” rating and a $27.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Arteris presently has a consensus rating of “Buy” and a consensus target price of $28.40.
AIP stock opened at $13.52 on Friday. Arteris has a 12 month low of $11.48 and a 12 month high of $27.57. The firm has a 50-day moving average price of $16.27.
Arteris (NASDAQ:AIP – Get Rating) last posted its quarterly earnings results on Thursday, March 3rd. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.20. On average, equities research analysts predict that Arteris will post -1.11 earnings per share for the current year.
Arteris Company Profile
Arteris IP is a provider of System IP consisting of NoC interconnect and other IP as well as IP Deployment software which accelerate creation of SoC type semiconductors. Arteris IP is based in CAMPBELL, Calif.