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

Arteris, Inc. (NASDAQ:AIP) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 391,100 shares, a drop of 23.3% from the November 15th total of 509,900 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 111,700 shares, the days-to-cover ratio is currently 3.5 days.

Insider Buying and Selling at Arteris

In other news, Director Isabelle F. Geday sold 15,550 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $9.03, for a total value of $140,416.50. Following the transaction, the director now owns 121,213 shares of the company’s stock, valued at approximately $1,094,553.39. This represents a 11.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nicholas B. Hawkins sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $7.35, for a total value of $36,750.00. Following the completion of the sale, the chief financial officer now owns 219,659 shares of the company’s stock, valued at $1,614,493.65. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,717 shares of company stock valued at $791,369 in the last quarter. 33.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Needham Investment Management LLC raised its position in Arteris by 14.7% in the third quarter. Needham Investment Management LLC now owns 2,735,000 shares of the company’s stock valued at $21,114,000 after purchasing an additional 350,000 shares during the last quarter. Franklin Resources Inc. raised its holdings in Arteris by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock valued at $11,201,000 after buying an additional 12,375 shares during the last quarter. Vanguard Group Inc. boosted its position in Arteris by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock worth $8,390,000 after buying an additional 3,242 shares during the period. Geode Capital Management LLC grew its holdings in Arteris by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock worth $4,610,000 after acquiring an additional 36,908 shares during the last quarter. Finally, State Street Corp increased its position in Arteris by 18.5% in the 3rd quarter. State Street Corp now owns 410,578 shares of the company’s stock valued at $3,170,000 after acquiring an additional 64,081 shares during the period. 64.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Arteris Price Performance

Shares of NASDAQ:AIP opened at $10.29 on Friday. The firm has a 50 day simple moving average of $8.00 and a 200 day simple moving average of $7.83. The company has a market cap of $413.45 million, a price-to-earnings ratio of -10.72 and a beta of 1.25. Arteris has a one year low of $4.83 and a one year high of $10.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16.

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.