Short Interest in Arteris, Inc. (NASDAQ:AIP) Drops By 14.2%

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. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 106,900 shares, the short-interest ratio is presently 4.8 days.

Insider Activity at Arteris

In other Arteris news, CFO Nicholas B. Hawkins sold 19,299 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $8.14, for a total value of $157,093.86. Following the transaction, the chief financial officer now owns 192,414 shares of the company’s stock, valued at approximately $1,566,249.96. This represents a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne C. Cantwell sold 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.95, for a total value of $104,250.00. Following the sale, the director now directly owns 243,198 shares in the company, valued at $1,690,226.10. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,409 shares of company stock worth $1,059,138 in the last 90 days. Corporate insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On Arteris

Several large investors have recently added to or reduced their stakes in the company. Needham Investment Management LLC lifted its position in shares of Arteris by 14.7% during the 3rd quarter. Needham Investment Management LLC now owns 2,735,000 shares of the company’s stock worth $21,114,000 after buying an additional 350,000 shares during the period. Franklin Resources Inc. raised its stake in Arteris by 0.8% during the third 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. Vanguard Group Inc. boosted its stake in shares of Arteris by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock valued at $8,390,000 after purchasing an additional 3,242 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Arteris by 6.6% in the 3rd 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 in the last quarter. Finally, State Street Corp grew its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Price Performance

NASDAQ AIP opened at $8.69 on Friday. The stock has a 50-day simple moving average of $7.62 and a 200 day simple moving average of $7.75. Arteris has a twelve month low of $4.83 and a twelve month high of $9.54. The stock has a market capitalization of $349.16 million, a PE ratio of -9.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 1.16.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reaffirmed 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.