Arteris, Inc. (NASDAQ:AIP) Short Interest Update

Arteris, Inc. (NASDAQ:AIP - Get Free Report) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 509,900 shares, a drop of 14.2% from the October 31st total of 594,400 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily volume of 106,900 shares, the days-to-cover ratio is presently 4.8 days.

Arteris Price Performance

Shares of AIP traded up $0.18 during midday trading on Friday, reaching $8.69. The stock had a trading volume of 86,105 shares, compared to its average volume of 144,296. 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 company has a market capitalization of $349.16 million, a price-to-earnings ratio of -9.05 and a beta of 1.13. The company's 50-day moving average is $7.62 and its 200 day moving average is $7.75. Arteris has a 12-month low of $4.83 and a 12-month high of $9.54.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities reiterated a "buy" rating and set a $15.00 target price on shares of Arteris in a research report on Wednesday, November 6th.

Insiders Place Their Bets

In other news, Director Wayne C. Cantwell sold 15,000 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $6.95, for a total value of $104,250.00. Following the transaction, the director now owns 243,198 shares of the company's stock, valued at approximately $1,690,226.10. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Laurent R. Moll sold 30,860 shares of Arteris stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $6.95, for a total value of $214,477.00. Following the sale, the chief operating officer now directly owns 501,120 shares of the company's stock, valued at $3,482,784. This represents a 5.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,409 shares of company stock worth $1,059,138 in the last quarter. 33.70% of the stock is owned by company insiders.

Institutional Trading of Arteris

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in Arteris by 0.8% in the third quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company's stock worth $11,201,000 after purchasing an additional 12,375 shares during the last quarter. Barclays PLC lifted its stake in shares of 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 acquiring an additional 30,041 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Arteris by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 597,116 shares of the company's stock valued at $4,610,000 after acquiring an additional 36,908 shares during the period. State Street Corp grew its position 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. Finally, Needham Investment Management LLC increased its stake in Arteris by 14.7% in 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 during the period. Hedge funds and other 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.