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

Arteris, Inc. (NASDAQ:AIP) saw a large increase in short interest in 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 days-to-cover ratio is currently 1.8 days. Currently, 1.3% of the shares of the stock are sold short.

Insider Activity

In other news, CEO K Charles Janac sold 7,150 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $7.12, for a total transaction of $50,908.00. Following the completion of the sale, the chief executive officer now owns 318,117 shares in the company, valued at approximately $2,264,993.04. This represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nicholas B. Hawkins sold 3,888 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $7.12, for a total value of $27,682.56. Following the sale, the chief financial officer now directly owns 181,545 shares of the company’s stock, valued at approximately $1,292,600.40. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,533 shares of company stock worth $283,815. 29.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. G2 Investment Partners Management LLC acquired a new stake in Arteris in the 4th quarter worth approximately $2,799,000. Acadian Asset Management LLC raised its position in shares of Arteris by 40.6% in the first quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock valued at $6,222,000 after purchasing an additional 260,277 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Arteris in the first quarter worth $1,621,000. Federated Hermes Inc. boosted its holdings in shares of Arteris by 97.2% during the 1st quarter. Federated Hermes Inc. now owns 327,119 shares of the company’s stock worth $2,260,000 after buying an additional 161,241 shares during the period. Finally, Next Century Growth Investors LLC grew its stake in Arteris by 46.4% in the 1st quarter. Next Century Growth Investors LLC now owns 407,721 shares of the company’s stock valued at $2,817,000 after buying an additional 129,143 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AIP shares. Rosenblatt Securities restated a “buy” rating and set a $14.00 price target on shares of Arteris in a report on Wednesday, May 21st. Northland Securities lifted their price objective on Arteris from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th.

Arteris Trading Up 3.8%

Arteris stock opened at $7.94 on Wednesday. Arteris has a one year low of $5.46 and a one year high of $12.64. The company’s fifty day moving average price is $6.83 and its two-hundred day moving average price is $8.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $333.31 million, a price-to-earnings ratio of -9.13 and a beta of 1.31.

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.