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

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

Insider Buying and Selling

In related 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 directly owns 68,084 shares in the company, valued at approximately $485,438.92. This trade represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne C. Cantwell sold 15,000 shares of the business's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.95, for a total transaction of $104,250.00. Following the completion of the sale, the director now directly owns 243,198 shares in the company, valued at approximately $1,690,226.10. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,409 shares of company stock valued at $1,059,138. 33.70% of the stock is owned by company insiders.

Institutional Trading of Arteris

Several large investors have recently modified their holdings of AIP. US Bancorp DE bought a new stake in Arteris during the third quarter worth $34,000. The Manufacturers Life Insurance Company acquired a new position in Arteris during the second quarter worth about $86,000. Algert Global LLC acquired a new stake in shares of Arteris in the 2nd quarter valued at approximately $115,000. MetLife Investment Management LLC increased its position in Arteris by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 16,951 shares of the company's stock worth $131,000 after purchasing an additional 9,551 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Arteris in the third quarter valued at approximately $226,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AIP shares. Westpark Capital reissued a "buy" rating and issued a $11.00 target price on shares of Arteris in a research note on Wednesday, July 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Arteris in a research report on Wednesday, November 6th.

Arteris Stock Performance

NASDAQ:AIP traded down $0.14 during mid-day trading on Friday, hitting $7.80. 137,254 shares of the stock were exchanged, compared to its average volume of 162,609. 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 firm's 50-day simple moving average is $7.38 and its 200 day simple moving average is $7.72. Arteris has a fifty-two week low of $4.33 and a fifty-two week high of $9.54. The stock has a market capitalization of $313.38 million, a price-to-earnings ratio of -8.13 and a beta of 1.13.

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.