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

Arteris, Inc. (NASDAQ:AIP - Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 358,000 shares, a growth of 24.0% from the April 30th total of 288,600 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 198,700 shares, the days-to-cover ratio is currently 1.8 days.

Arteris Price Performance

Shares of NASDAQ AIP traded up $0.28 during trading on Friday, hitting $7.93. The company had a trading volume of 184,190 shares, compared to its average volume of 204,528. The firm has a market capitalization of $332.89 million, a price-to-earnings ratio of -9.11 and a beta of 1.37. The stock has a fifty day simple moving average of $6.88 and a two-hundred day simple moving average of $8.59. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. Arteris has a fifty-two week low of $5.46 and a fifty-two week high of $12.64.

Insider Buying and Selling at Arteris

In related news, CEO K Charles Janac sold 7,150 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $7.12, for a total transaction of $50,908.00. Following the sale, the chief executive officer now directly owns 318,117 shares of the company's stock, valued at approximately $2,264,993.04. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Nicholas B. Hawkins sold 11,000 shares of the firm's stock in a transaction 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 sale, the chief financial officer now owns 165,596 shares in the company, valued at approximately $1,248,593.84. This represents a 6.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock valued at $334,886. 29.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AIP. Quarry LP purchased a new stake in Arteris during the 4th quarter worth approximately $46,000. US Bancorp DE boosted its stake in shares of Arteris by 29.0% in the fourth quarter. US Bancorp DE now owns 5,702 shares of the company's stock worth $58,000 after acquiring an additional 1,283 shares during the last quarter. CWM LLC increased its position in shares of Arteris by 4,810.1% during the first quarter. CWM LLC now owns 10,213 shares of the company's stock worth $71,000 after purchasing an additional 10,005 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Arteris during the first quarter worth approximately $95,000. Finally, Strs Ohio acquired a new position in Arteris in the 1st quarter valued at $104,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.