Short Interest in Arteris, Inc. (NASDAQ:AIP) Decreases By 23.3%

Arteris, Inc. (NASDAQ:AIP) saw 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. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 111,700 shares, the days-to-cover ratio is currently 3.5 days.

Arteris Stock Up 1.5 %

AIP opened at $10.29 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $413.42 million, a PE ratio of -10.72 and a beta of 1.25. The stock’s fifty day moving average is $8.00 and its 200-day moving average is $7.83. Arteris has a one year low of $4.83 and a one year high of $10.60.

Insider Transactions at Arteris

In related news, CEO K Charles Janac sold 17,856 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $10.12, for a total value of $180,702.72. Following the sale, the chief executive officer now owns 10,287,435 shares of the company’s stock, valued at approximately $104,108,842.20. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul L. Alpern sold 3,615 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $7.13, for a total value of $25,774.95. Following the transaction, the vice president now owns 68,084 shares of the company’s stock, valued at $485,438.92. This represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,717 shares of company stock worth $791,369. 33.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arteris

A number of institutional investors have recently bought and sold shares of AIP. Needham Investment Management LLC raised its stake 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 purchasing an additional 350,000 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Arteris in the 3rd quarter worth approximately $2,504,000. Bank of New York Mellon Corp bought a new position in Arteris during the second quarter worth $580,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Arteris during the second quarter valued at about $554,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Arteris by 36.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 253,211 shares of the company’s stock valued at $1,955,000 after acquiring an additional 67,414 shares in the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of Arteris in a research report 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.