Short Interest in Arteris, Inc. (NASDAQ:AIP) Drops By 21.2%

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

Arteris Stock Performance

AIP stock traded down $0.34 during trading hours on Friday, reaching $10.27. The stock had a trading volume of 310,608 shares, compared to its average volume of 169,538. The stock has a 50-day simple moving average of $8.50 and a 200 day simple moving average of $7.95. Arteris has a fifty-two week low of $4.83 and a fifty-two week high of $10.69. The stock has a market capitalization of $412.62 million, a PE ratio of -10.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16.

Insider Activity

In other Arteris news, VP Paul L. Alpern sold 3,615 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $7.13, for a total transaction of $25,774.95. Following the completion of the transaction, the vice president now owns 68,084 shares in the company, valued at approximately $485,438.92. This represents a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Laurent R. Moll sold 3,801 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $7.18, for a total value of $27,291.18. Following the completion of the sale, the chief operating officer now owns 490,667 shares in the company, valued at approximately $3,522,989.06. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,063 shares of company stock worth $1,055,822 in the last 90 days. Corporate insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in Arteris during the 2nd quarter valued at $580,000. Rhumbline Advisers lifted its stake in shares of Arteris by 2,182.8% during the 2nd quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock worth $239,000 after buying an additional 30,428 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Arteris by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 114,700 shares of the company’s stock worth $861,000 after buying an additional 6,600 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Arteris during the 2nd quarter worth about $554,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Arteris in the 2nd quarter valued at about $86,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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