Arteris, Inc. (NASDAQ:AIP) Short Interest Down 23.3% in November

Arteris, Inc. (NASDAQ:AIP) saw a large decline in short interest in 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. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 111,700 shares, the short-interest ratio is presently 3.5 days.

Insider Activity

In related news, COO Laurent R. Moll sold 3,801 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $7.18, for a total transaction of $27,291.18. Following the completion of the sale, the chief operating officer now directly owns 490,667 shares of the company’s stock, valued at $3,522,989.06. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Nicholas B. Hawkins sold 5,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $7.35, for a total value of $36,750.00. Following the completion of the transaction, the chief financial officer now directly owns 219,659 shares in the company, valued at $1,614,493.65. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,717 shares of company stock worth $791,369. Corporate insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On Arteris

Institutional investors have recently modified their holdings of the business. Needham Investment Management LLC increased its stake in 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 stake in shares of Arteris during the third quarter worth $2,504,000. Bank of New York Mellon Corp acquired a new stake in shares of Arteris during the second quarter worth $580,000. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Arteris in the 2nd quarter valued at $554,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Arteris by 36.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 253,211 shares of the company’s stock worth $1,955,000 after purchasing an additional 67,414 shares during the period. Institutional investors own 64.36% of the company’s stock.

Arteris Stock Performance

AIP stock opened at $10.29 on Friday. Arteris has a 1-year low of $4.83 and a 1-year high of $10.60. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm has a market cap of $413.42 million, a PE ratio of -10.72 and a beta of 1.25. The business’s 50-day moving average price is $8.00 and its two-hundred day moving average price is $7.83.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of Arteris in a research note 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.