Arteris, Inc. (NASDAQ:AIP – Get Rating) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 493,400 shares, an increase of 137.4% from the June 15th total of 207,800 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average daily volume of 136,800 shares, the short-interest ratio is presently 3.6 days.
A number of equities research analysts have recently issued reports on AIP shares. Cowen lowered their price target on shares of Arteris from $23.00 to $19.00 in a report on Wednesday, May 11th. BMO Capital Markets lowered their target price on shares of Arteris from $20.00 to $15.00 in a research note on Wednesday, May 11th. Finally, Cowen reduced their price target on shares of Arteris from $23.00 to $19.00 in a research report on Wednesday, May 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.67.
AIP opened at $7.23 on Friday. Arteris has a 12 month low of $6.57 and a 12 month high of $27.57. The business’s 50-day moving average price is $8.21 and its 200-day moving average price is $12.46.
In other Arteris news, COO Laurent R. Moll sold 9,968 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $8.09, for a total transaction of $80,641.12. Following the completion of the transaction, the chief operating officer now owns 652,854 shares in the company, valued at $5,281,588.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne C. Cantwell sold 25,150 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $7.19, for a total transaction of $180,828.50. Following the sale, the director now owns 183,183 shares in the company, valued at $1,317,085.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,963 shares of company stock valued at $502,550. 48.27% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in AIP. Summit Partners Public Asset Management LLC purchased a new position in Arteris during the 4th quarter valued at about $15,402,000. Mutual of America Capital Management LLC purchased a new stake in Arteris in the fourth quarter worth $5,229,000. G2 Investment Partners Management LLC boosted its holdings in Arteris by 61.2% in the first quarter. G2 Investment Partners Management LLC now owns 543,473 shares of the company’s stock valued at $7,065,000 after acquiring an additional 206,374 shares in the last quarter. Eventide Asset Management LLC purchased a new position in Arteris during the 4th quarter valued at $3,805,000. Finally, Lord Abbett & CO. LLC raised its holdings in Arteris by 29.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 677,617 shares of the company’s stock worth $8,809,000 after purchasing an additional 156,052 shares in the last quarter. 17.98% of the stock is currently owned by institutional investors and hedge funds.
Arteris Company Profile (Get Rating)
Arteris, Inc provides semiconductor interconnect intellectual property (IP) and IP deployment solutions 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 System-on-Chip (Soc) designs and Network-on-Chip (NoC) interconnect IP.