Arteris, Inc. (NASDAQ:AIP) Sees Significant Growth in Short Interest

Arteris, Inc. (NASDAQ:AIP) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 459,800 shares, a growth of 28.4% from the May 15th total of 358,000 shares. Based on an average daily trading volume, of 200,900 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.7% of the shares of the stock are short sold.

Insiders Place Their Bets

In related news, CFO Nicholas B. Hawkins sold 4,949 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $6.03, for a total value of $29,842.47. Following the sale, the chief financial officer now directly owns 176,596 shares of the company’s stock, valued at approximately $1,064,873.88. This represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO K Charles Janac sold 7,150 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were 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 directly owns 318,117 shares in the company, valued at approximately $2,264,993.04. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,895 shares of company stock worth $365,310. 33.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arteris

Institutional investors have recently added to or reduced their stakes in the company. G2 Investment Partners Management LLC acquired a new position in shares of Arteris in the 4th quarter valued at approximately $2,799,000. Charles Schwab Investment Management Inc. raised its position in shares of 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 purchasing an additional 3,298 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Arteris in the fourth quarter valued at $214,000. Two Sigma Advisers LP raised its holdings in Arteris by 82.9% in the fourth quarter. Two Sigma Advisers LP now owns 23,600 shares of the company’s stock valued at $240,000 after acquiring an additional 10,700 shares in the last quarter. Finally, EAM Investors LLC acquired a new stake in Arteris in the fourth quarter valued at $983,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Trading Up 5.5%

Shares of AIP opened at $8.67 on Wednesday. The stock’s 50-day moving average is $7.17 and its two-hundred day moving average is $8.59. The stock has a market cap of $363.97 million, a PE ratio of -10.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.02 and a quick ratio of 1.02. Arteris has a 12 month low of $5.46 and a 12 month high of $12.64.

Wall Street Analysts Forecast Growth

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

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.