Short Interest in Arteris, Inc. (NASDAQ:AIP) Decreases By 12.4%

Arteris, Inc. (NASDAQ:AIP) was the recipient of a large decrease in short interest during the month of 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 presently 5.9 days. Currently, 2.5% of the shares of the stock are short sold.

Insider Activity

In related news, VP Paul L. Alpern sold 3,615 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $7.13, for a total value of $25,774.95. Following the completion of the sale, the vice president now owns 68,084 shares in the company, valued at $485,438.92. The trade was a 5.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Laurent R. Moll sold 37,561 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $7.49, for a total value of $281,331.89. Following the completion of the sale, the chief operating officer now directly owns 544,468 shares of the company’s stock, valued at approximately $4,078,065.32. This represents a 6.45 % 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 worth $1,059,138. 33.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arteris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE purchased a new position in shares of Arteris in the third quarter valued at about $34,000. The Manufacturers Life Insurance Company bought a new stake in shares of Arteris in the second quarter worth about $86,000. Algert Global LLC purchased a new position in Arteris during the 2nd quarter valued at about $115,000. MetLife Investment Management LLC raised 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 valued at $131,000 after purchasing an additional 9,551 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Arteris in the 3rd quarter worth approximately $226,000. 64.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AIP shares. Westpark Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Arteris in a research note on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Arteris in a research note on Wednesday, November 6th.

Arteris Stock Performance

NASDAQ:AIP opened at $7.80 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 1.16. Arteris has a fifty-two week low of $4.33 and a fifty-two week high of $9.54. The firm has a market cap of $313.38 million, a PE ratio of -8.13 and a beta of 1.13. The business has a 50 day moving average price of $7.38 and a 200-day moving average price of $7.72.

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.