Arteris, Inc. (NASDAQ:AIP) Short Interest Down 14.2% in November

Arteris, Inc. (NASDAQ:AIP) was the target of a significant drop in short interest in 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 company are sold short. Based on an average daily trading volume, of 106,900 shares, the days-to-cover ratio is presently 4.8 days.

Arteris Trading Up 2.1 %

Shares of AIP stock opened at $8.69 on Monday. The company has a market capitalization of $349.16 million, a P/E ratio of -9.05 and a beta of 1.13. Arteris has a 12-month low of $4.83 and a 12-month high of $9.54. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $7.62 and a 200 day moving average price of $7.74.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Arteris in a research note on Wednesday, November 6th.

Insider Buying and Selling

In other news, VP Paul L. Alpern sold 3,615 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were 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 of the company’s stock, valued at approximately $485,438.92. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicholas B. Hawkins sold 19,299 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.14, for a total transaction of $157,093.86. Following the completion of the sale, the chief financial officer now directly owns 192,414 shares in the company, valued at approximately $1,566,249.96. The trade was a 9.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,409 shares of company stock valued at $1,059,138 over the last three months. 33.70% of the stock is owned by corporate insiders.

Institutional Trading of Arteris

Hedge funds have recently modified their holdings of the company. US Bancorp DE bought a new position in shares of Arteris in the third quarter valued at about $34,000. The Manufacturers Life Insurance Company bought a new position in shares of Arteris in the second quarter worth about $86,000. Algert Global LLC acquired a new position in shares of Arteris during the second quarter worth approximately $115,000. MetLife Investment Management LLC grew its stake in shares of Arteris by 129.1% during the third 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 acquired a new stake in shares of Arteris in the third quarter valued at approximately $226,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

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.