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

Arteris, Inc. (NASDAQ:AIP) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 594,400 shares, a decline of 12.4% from the October 15th total of 678,300 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 101,300 shares, the short-interest ratio is presently 5.9 days.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AIP. Westpark Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Arteris in a report on Wednesday, July 31st. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Arteris in a report on Wednesday, November 6th.

Arteris Stock Down 1.8 %

AIP stock opened at $7.80 on Monday. The company has a market cap of $313.40 million, a PE ratio of -8.12 and a beta of 1.13. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. Arteris has a twelve month low of $4.33 and a twelve month high of $9.54. The business’s 50-day simple moving average is $7.38 and its 200 day simple moving average is $7.72.

Insider Transactions at Arteris

In related news, VP Paul L. Alpern sold 3,615 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $7.13, for a total transaction of $25,774.95. Following the transaction, the vice president now directly owns 68,084 shares in the company, valued at $485,438.92. This trade represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nicholas B. Hawkins sold 19,299 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $8.14, for a total transaction of $157,093.86. Following the completion of the transaction, the chief financial officer now owns 192,414 shares in the company, valued at approximately $1,566,249.96. The trade was a 9.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,409 shares of company stock valued at $1,059,138. Corporate insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Arteris

Several institutional investors and hedge funds have recently made changes to their positions in AIP. Silvercrest Asset Management Group LLC increased its holdings in Arteris by 25.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 711,903 shares of the company’s stock valued at $5,211,000 after purchasing an additional 143,385 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Arteris by 28.1% in the first quarter. Acadian Asset Management LLC now owns 534,472 shares of the company’s stock valued at $3,911,000 after acquiring an additional 117,312 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Arteris during the 2nd quarter worth approximately $580,000. Vanguard Group Inc. raised its position in Arteris by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock worth $8,390,000 after acquiring an additional 3,242 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Arteris in the 3rd quarter valued at about $2,504,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

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.