Arteris, Inc. (NASDAQ:AIP) Short Interest Down 21.2% in December

Arteris, Inc. (NASDAQ:AIP) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 308,100 shares, a decrease of 21.2% from the November 30th total of 391,100 shares. Based on an average daily volume of 143,300 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.2% of the shares of the company are sold short.

Insiders Place Their Bets

In other Arteris news, Director Saiyed Atiq Raza sold 12,166 shares of Arteris stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $10.07, for a total value of $122,511.62. Following the transaction, the director now directly owns 731,560 shares of the company’s stock, valued at $7,366,809.20. The trade was a 1.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Nicholas B. Hawkins sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $7.35, for a total value of $36,750.00. Following the transaction, the chief financial officer now owns 219,659 shares of the company’s stock, valued at approximately $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 119,063 shares of company stock valued at $1,055,822 over the last 90 days. 33.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AIP. US Bancorp DE bought a new position in shares of Arteris in the 3rd quarter worth $34,000. Renaissance Technologies LLC lifted its stake in Arteris by 6.1% in the second quarter. Renaissance Technologies LLC now owns 114,700 shares of the company’s stock valued at $861,000 after buying an additional 6,600 shares during the period. MetLife Investment Management LLC boosted its holdings in Arteris by 129.1% during the third quarter. MetLife Investment Management LLC now owns 16,951 shares of the company’s stock worth $131,000 after buying an additional 9,551 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Arteris during the 2nd quarter worth about $86,000. Finally, Franklin Resources Inc. increased its stake in shares of 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 acquiring an additional 12,375 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Arteris Stock Down 3.2 %

Shares of NASDAQ:AIP opened at $10.27 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm has a market cap of $412.62 million, a P/E ratio of -10.70 and a beta of 1.25. Arteris has a 12 month low of $4.83 and a 12 month high of $10.69. The company’s 50-day moving average price is $8.43 and its two-hundred day moving average price is $7.94.

Analyst Upgrades and Downgrades

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

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.