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

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

Arteris Stock Performance

Shares of AIP traded up $0.19 during mid-day trading on Friday, reaching $10.33. The company’s stock had a trading volume of 270,325 shares, compared to its average volume of 165,448. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 1.16. Arteris has a 1-year low of $4.83 and a 1-year high of $10.37. The business has a 50-day simple moving average of $7.94 and a two-hundred day simple moving average of $7.81.

Insider Activity

In other Arteris news, CFO Nicholas B. Hawkins sold 19,299 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.14, for a total value of $157,093.86. Following the transaction, the chief financial officer now directly owns 192,414 shares in the company, valued at $1,566,249.96. The trade was a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul L. Alpern sold 3,615 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $7.13, for a total value of $25,774.95. Following the sale, the vice president now owns 68,084 shares in the company, valued at $485,438.92. The trade was a 5.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,461 shares of company stock worth $586,642. Company insiders own 33.70% of the company’s stock.

Institutional Trading of Arteris

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in Arteris by 0.8% in the third quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock valued at $11,201,000 after purchasing an additional 12,375 shares during the period. Barclays PLC increased its holdings in Arteris by 321.1% in the third quarter. Barclays PLC now owns 39,396 shares of the company’s stock worth $304,000 after purchasing an additional 30,041 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 36,908 shares in the last quarter. 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 buying an additional 64,081 shares in the last quarter. Finally, Needham Investment Management LLC grew its stake 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 acquiring an additional 350,000 shares during the period. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

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