Corton Capital Inc. Trims Position in Arteris, Inc. (NASDAQ:AIP)

Corton Capital Inc. lessened its position in shares of Arteris, Inc. (NASDAQ:AIP) by 41.7% in the first quarter, Holdings Channel reports. The fund owned 13,871 shares of the company’s stock after selling 9,907 shares during the quarter. Corton Capital Inc.’s holdings in Arteris were worth $96,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Arteris in the first quarter worth about $95,000. G2 Investment Partners Management LLC purchased a new stake in Arteris in the fourth quarter worth about $2,799,000. Charles Schwab Investment Management Inc. increased its position in Arteris by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 78,690 shares of the company’s stock worth $802,000 after buying an additional 3,298 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Arteris in the fourth quarter worth about $214,000. Finally, Two Sigma Advisers LP increased its position in Arteris by 82.9% in the fourth quarter. Two Sigma Advisers LP now owns 23,600 shares of the company’s stock worth $240,000 after buying an additional 10,700 shares in the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Trading Down 4.9%

NASDAQ:AIP opened at $8.86 on Monday. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $12.64. The stock has a 50-day moving average price of $8.63 and a 200 day moving average price of $8.43. The stock has a market capitalization of $371.94 million, a P/E ratio of -10.80 and a beta of 1.44.

Insiders Place Their Bets

In related news, COO Laurent R. Moll sold 4,704 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $8.99, for a total transaction of $42,288.96. Following the completion of the sale, the chief operating officer owned 478,761 shares in the company, valued at approximately $4,304,061.39. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO K Charles Janac sold 11,815 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $9.25, for a total value of $109,288.75. Following the sale, the chief executive officer owned 284,030 shares of the company’s stock, valued at $2,627,277.50. This represents a 3.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,448 shares of company stock worth $1,127,923. Company insiders own 33.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities restated a “buy” rating and issued a $14.00 price target on shares of Arteris in a research report on Wednesday, May 21st.

Arteris 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.