Rhumbline Advisers Sells 36,908 Shares of Arteris, Inc. (NASDAQ:AIP)

Rhumbline Advisers trimmed its position in shares of Arteris, Inc. (NASDAQ:AIP - Free Report) by 47.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,066 shares of the company's stock after selling 36,908 shares during the quarter. Rhumbline Advisers owned 0.10% of Arteris worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of AIP. GAMMA Investing LLC boosted its stake in shares of Arteris by 11,823.3% during the 1st quarter. GAMMA Investing LLC now owns 5,127 shares of the company's stock worth $350,000 after acquiring an additional 5,084 shares during the last quarter. PVG Asset Management Corp purchased a new position in shares of Arteris during the 4th quarter worth $151,000. PharVision Advisers LLC purchased a new position in shares of Arteris during the 4th quarter worth $173,000. Squarepoint Ops LLC purchased a new position in shares of Arteris during the 4th quarter worth $160,000. Finally, Two Sigma Advisers LP boosted its stake in shares of Arteris by 82.9% during the 4th quarter. Two Sigma Advisers LP now owns 23,600 shares of the company's stock worth $240,000 after acquiring an additional 10,700 shares during the last quarter. 64.36% of the stock is owned by institutional investors.

Arteris Stock Up 3.8%

AIP opened at $9.02 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.02 and a current ratio of 1.02. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $12.64. The firm's fifty day moving average is $7.43 and its 200 day moving average is $8.58. The stock has a market cap of $378.64 million, a price-to-earnings ratio of -11.00 and a beta of 1.37.

Insider Activity at Arteris

In related news, CFO Nicholas B. Hawkins sold 3,770 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $8.07, for a total transaction of $30,423.90. Following the completion of the transaction, the chief financial officer now owns 161,937 shares in the company, valued at approximately $1,306,831.59. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO K Charles Janac sold 7,150 shares of the company's 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 transaction, the chief executive officer now owns 318,117 shares of the company's stock, valued at approximately $2,264,993.04. This represents a 2.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,895 shares of company stock worth $365,310. 33.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reiterated a "buy" rating and set a $14.00 price target on shares of Arteris in a research note on Wednesday, May 21st.

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.

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