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

Arteris, Inc. (NASDAQ:AIP) was the recipient of a large decrease in short interest in November. As of November 15th, there was short interest totalling 509,900 shares, a decrease of 14.2% from the October 31st total of 594,400 shares. Based on an average daily volume of 106,900 shares, the days-to-cover ratio is currently 4.8 days. Currently, 2.0% of the company’s shares are sold short.

Arteris Price Performance

Shares of NASDAQ AIP opened at $8.61 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $345.92 million, a PE ratio of -8.97 and a beta of 1.13. Arteris has a 1-year low of $4.83 and a 1-year high of $9.54. The business’s fifty day moving average price is $7.65 and its two-hundred day moving average price is $7.75.

Insider Buying and Selling

In other news, CFO Nicholas B. Hawkins sold 19,299 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $8.14, for a total value of $157,093.86. Following the completion of the sale, the chief financial officer now owns 192,414 shares of the company’s stock, valued at $1,566,249.96. This represents a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul L. Alpern sold 3,615 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $7.13, for a total value of $25,774.95. Following the sale, the vice president now owns 68,084 shares in the company, valued at approximately $485,438.92. The trade was a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,751 shares of company stock valued at $951,813. 33.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arteris

A number of institutional investors and hedge funds have recently bought and sold shares of AIP. Franklin Resources Inc. boosted its stake in shares of Arteris by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock worth $11,201,000 after acquiring an additional 12,375 shares in the last quarter. Barclays PLC raised its position in shares of Arteris by 321.1% during the third quarter. Barclays PLC now owns 39,396 shares of the company’s stock worth $304,000 after purchasing an additional 30,041 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Arteris by 6.6% during the third quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock valued at $4,610,000 after purchasing an additional 36,908 shares during the last quarter. State Street Corp increased its stake in Arteris by 18.5% in the 3rd quarter. State Street Corp now owns 410,578 shares of the company’s stock worth $3,170,000 after purchasing an additional 64,081 shares in the last quarter. Finally, Needham Investment Management LLC increased its stake in Arteris by 14.7% in the 3rd quarter. Needham Investment Management LLC now owns 2,735,000 shares of the company’s stock worth $21,114,000 after purchasing an additional 350,000 shares in the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $15.00 target price on shares of Arteris in a research note on Wednesday, November 6th.

Arteris Company Profile

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.