Arteris (NASDAQ:AIP) Major Shareholder Sells $319,050.56 in Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 17,884 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $17.84, for a total transaction of $319,050.56. Following the completion of the transaction, the insider directly owned 9,399,071 shares in the company, valued at $167,679,426.64. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Bayview Legacy, Llc also recently made the following trade(s):

• On Tuesday, January 13th, Bayview Legacy, Llc sold 2,116 shares of Arteris stock. The stock was sold at an average price of $17.79, for a total value of $37,643.64.
• On Thursday, January 8th, Bayview Legacy, Llc sold 50,000 shares of Arteris stock. The shares were sold at an average price of $16.58, for a total value of $829,000.00.
• On Monday, December 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $17.71, for a total value of $1,239,700.00.
• On Friday, December 5th, Bayview Legacy, Llc sold 60,000 shares of Arteris stock. The shares were sold at an average price of $17.08, for a total transaction of $1,024,800.00.
• On Thursday, December 4th, Bayview Legacy, Llc sold 40,000 shares of Arteris stock. The shares were sold at an average price of $16.46, for a total transaction of $658,400.00.

Arteris Stock Performance

Shares of NASDAQ AIP traded down $0.83 during midday trading on Tuesday, reaching $16.74. 894,478 shares of the stock were exchanged, compared to its average volume of 484,096. The stock has a market capitalization of $731.27 million, a P/E ratio of -20.17 and a beta of 1.48. The company has a 50 day simple moving average of $15.79 and a 200 day simple moving average of $12.53. Arteris, Inc. has a twelve month low of $5.46 and a twelve month high of $19.85.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $17.41 million for the quarter, compared to analyst estimates of $17.00 million. On average, research analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Arteris

Several large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Arteris in the 2nd quarter valued at about $32,000. BNP Paribas Financial Markets increased its stake in shares of Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares during the period. Savant Capital LLC acquired a new stake in Arteris in the second quarter valued at approximately $97,000. Penn Capital Management Company LLC acquired a new stake in Arteris in the third quarter valued at approximately $109,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Arteris in the second quarter worth approximately $104,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

AIP has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Arteris to a “hold” rating in a research report on Tuesday, October 28th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a report on Monday, December 15th. TD Cowen increased their price objective on shares of Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Cowen reissued a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Arteris currently has an average rating of “Moderate Buy” and an average target price of $17.50.

Arteris Company Profile

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.