Arteris, Inc. (NASDAQ:AIP) Sees Large Decline in Short Interest

Arteris, Inc. (NASDAQ:AIP) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 385,400 shares, a decline of 12.9% from the January 15th total of 442,500 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 265,500 shares, the days-to-cover ratio is presently 1.5 days.

Insider Buying and Selling

In related news, CEO K Charles Janac sold 60,584 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $10.42, for a total transaction of $631,285.28. Following the transaction, the chief executive officer now directly owns 10,134,541 shares of the company’s stock, valued at approximately $105,601,917.22. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul L. Alpern sold 3,326 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $12.35, for a total value of $41,076.10. Following the completion of the sale, the vice president now owns 61,604 shares of the company’s stock, valued at $760,809.40. This trade represents a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 367,157 shares of company stock valued at $3,828,388. 33.70% of the stock is owned by insiders.

Institutional Trading of Arteris

A number of institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its position in shares of Arteris by 6.6% during the 4th quarter. Northern Trust Corp now owns 224,443 shares of the company’s stock valued at $2,287,000 after acquiring an additional 13,838 shares during the period. Quarry LP bought a new stake in shares of Arteris during the 4th quarter valued at $46,000. Boothbay Fund Management LLC bought a new stake in shares of Arteris during the 4th quarter valued at $526,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Arteris during the 4th quarter valued at $117,000. Finally, Marshall Wace LLP lifted its position in shares of Arteris by 68.6% during the 4th quarter. Marshall Wace LLP now owns 71,987 shares of the company’s stock valued at $734,000 after acquiring an additional 29,299 shares during the period. 64.36% of the stock is currently owned by institutional investors.

Arteris Stock Performance

AIP opened at $9.76 on Monday. The business has a fifty day simple moving average of $10.52 and a 200 day simple moving average of $8.65. The company has a market capitalization of $392.16 million, a PE ratio of -10.17 and a beta of 1.18. Arteris has a 1 year low of $5.76 and a 1 year high of $12.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities restated a “buy” rating and issued 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.