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

Arteris, Inc. (NASDAQ:AIP) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 308,100 shares, a decrease of 21.2% from the November 30th total of 391,100 shares. Based on an average daily trading volume, of 143,300 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.2% of the shares of the stock are sold short.

Arteris Price Performance

Shares of AIP traded down $0.34 during mid-day trading on Friday, reaching $10.27. The company had a trading volume of 310,608 shares, compared to its average volume of 169,538. The company has a market capitalization of $412.62 million, a price-to-earnings ratio of -10.70 and a beta of 1.25. 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’s 50 day simple moving average is $8.50 and its 200 day simple moving average is $7.95. Arteris has a 1-year low of $4.83 and a 1-year high of $10.69.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of Arteris in a report on Wednesday, November 6th.

Insider Buying and Selling

In other Arteris news, Director Isabelle F. Geday sold 15,550 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $9.03, for a total transaction of $140,416.50. Following the sale, the director now directly owns 121,213 shares in the company, valued at $1,094,553.39. This represents a 11.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Saiyed Atiq Raza sold 12,166 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $10.07, for a total transaction of $122,511.62. Following the completion of the transaction, the director now directly owns 731,560 shares in the company, valued at approximately $7,366,809.20. This represents a 1.64 % 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 valued at $1,055,822 over the last 90 days. 33.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arteris

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIP. JPMorgan Chase & Co. raised its position in Arteris by 67.1% in the third quarter. JPMorgan Chase & Co. now owns 92,242 shares of the company’s stock valued at $712,000 after purchasing an additional 37,032 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of 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 buying an additional 12,375 shares during the period. Barclays PLC raised its holdings in Arteris by 321.1% in the 3rd quarter. Barclays PLC now owns 39,396 shares of the company’s stock valued at $304,000 after buying an additional 30,041 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 buying an additional 36,908 shares during the period. Finally, State Street Corp grew its holdings in Arteris by 18.5% during the 3rd quarter. State Street Corp now owns 410,578 shares of the company’s stock worth $3,170,000 after acquiring an additional 64,081 shares during the last quarter. Institutional investors 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.