Short Interest in Arteris, Inc. (NASDAQ:AIP) Expands By 24.0%

by · The Markets Daily

Arteris, Inc. (NASDAQ:AIP – Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 358,000 shares, an increase of 24.0% from the April 30th total of 288,600 shares. Based on an average daily volume of 198,700 shares, the short-interest ratio is currently 1.8 days. Currently, 1.3% of the shares of the stock are sold short.

Analyst Ratings Changes

AIP has been the subject of a number of recent analyst reports. Northland Securities raised their price objective on shares of Arteris from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Arteris in a research note on Wednesday, May 21st.

Get Our Latest Analysis on Arteris

Arteris Stock Down 2.4%

Arteris stock opened at $7.75 on Thursday. The firm has a market cap of $325.33 million, a PE ratio of -8.91 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50 day moving average price is $6.84 and its two-hundred day moving average price is $8.60. Arteris has a twelve month low of $5.46 and a twelve month high of $12.64.

Insider Activity at Arteris

In related news, CFO Nicholas B. Hawkins sold 11,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $7.54, for a total transaction of $82,940.00. Following the completion of the sale, the chief financial officer now directly owns 165,596 shares of the company’s stock, valued at $1,248,593.84. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Laurent R. Moll sold 4,703 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $7.12, for a total transaction of $33,485.36. Following the sale, the chief operating officer now directly owns 482,833 shares of the company’s stock, valued at approximately $3,437,770.96. This represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,992 shares of company stock valued at $294,535 over the last ninety days. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. G2 Investment Partners Management LLC acquired a new position in Arteris in the 4th quarter valued at $2,799,000. Charles Schwab Investment Management Inc. grew its stake in Arteris by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 78,690 shares of the company’s stock valued at $802,000 after buying an additional 3,298 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Arteris in the 4th quarter valued at $214,000. Proficio Capital Partners LLC acquired a new position in Arteris in the 4th quarter valued at $450,000. Finally, Rhumbline Advisers grew its stake in Arteris by 79.4% in the 4th quarter. Rhumbline Advisers now owns 76,974 shares of the company’s stock valued at $784,000 after buying an additional 34,056 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Company Profile

(Get Free Report)

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.

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