Arteris, Inc. (NASDAQ:AIP – Get Rating) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 207,800 shares, a drop of 28.0% from the May 31st total of 288,600 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 131,100 shares, the short-interest ratio is presently 1.6 days.
AIP has been the subject of several recent analyst reports. Cowen dropped their price objective on Arteris from $23.00 to $19.00 in a research report on Wednesday, May 11th. Cowen decreased their price target on Arteris from $23.00 to $19.00 in a research note on Wednesday, May 11th. Finally, BMO Capital Markets decreased their target price on Arteris from $20.00 to $15.00 in a research note on Wednesday, May 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.67.
Shares of AIP stock opened at $7.16 on Friday. The business has a 50-day moving average price of $9.13 and a two-hundred day moving average price of $13.23. Arteris has a 12-month low of $6.57 and a 12-month high of $27.57.
In related news, Director Wayne C. Cantwell sold 4,266 shares of the business’s stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $7.78, for a total transaction of $33,189.48. Following the transaction, the director now directly owns 183,559 shares of the company’s stock, valued at approximately $1,428,089.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne C. Cantwell sold 25,150 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $7.19, for a total value of $180,828.50. Following the transaction, the director now directly owns 183,183 shares in the company, valued at $1,317,085.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,963 shares of company stock worth $502,550.
Hedge funds have recently modified their holdings of the business. Strs Ohio bought a new stake in Arteris during the fourth quarter worth about $25,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Arteris in the 1st quarter valued at about $33,000. New York State Common Retirement Fund bought a new stake in shares of Arteris in the 1st quarter valued at about $49,000. Bank of America Corp DE lifted its stake in shares of Arteris by 24.4% in the 1st quarter. Bank of America Corp DE now owns 6,544 shares of the company’s stock valued at $85,000 after acquiring an additional 1,284 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Arteris in the 1st quarter valued at about $132,000. 17.98% of the stock is owned by hedge funds and other institutional investors.
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.