Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 41,000 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 41,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $14.21, for a total value of $582,610.00. Following the transaction, the insider owned 9,238,071 shares of the company’s stock, valued at approximately $131,272,988.91. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, March 10th, Bayview Legacy, Llc sold 9,000 shares of Arteris stock. The stock was sold at an average price of $14.66, for a total transaction of $131,940.00.
• On Tuesday, February 10th, Bayview Legacy, Llc sold 2,756 shares of Arteris stock. The stock was sold at an average price of $15.03, for a total transaction of $41,422.68.
• On Monday, February 9th, Bayview Legacy, Llc sold 47,244 shares of Arteris stock. The shares were sold at an average price of $15.21, for a total transaction of $718,581.24.
• On Thursday, January 15th, Bayview Legacy, Llc sold 17,884 shares of Arteris stock. The shares were sold at an average price of $17.84, for a total transaction of $319,050.56.
• On Tuesday, January 13th, Bayview Legacy, Llc sold 2,116 shares of Arteris stock. The shares were sold at an average price of $17.79, for a total transaction of $37,643.64.
• On Thursday, January 8th, Bayview Legacy, Llc sold 50,000 shares of Arteris stock. The stock was sold at an average price of $16.58, for a total transaction of $829,000.00.

Arteris Stock Performance

Shares of AIP traded up $0.37 during trading hours on Wednesday, reaching $15.62. 430,133 shares of the company traded hands, compared to its average volume of 490,737. The stock’s fifty day moving average is $15.84 and its 200 day moving average is $14.00. The stock has a market cap of $710.24 million, a P/E ratio of -19.05 and a beta of 1.45. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. On average, equities research analysts predict that Arteris, Inc. will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Arteris during the second quarter valued at approximately $32,000. BNP Paribas Financial Markets lifted its position in shares of Arteris by 75.0% during the 3rd 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 bought a new position in shares of Arteris during the 2nd quarter worth approximately $97,000. Strs Ohio acquired a new stake in Arteris in the 1st quarter valued at $104,000. Finally, Penn Capital Management Company LLC acquired a new stake in Arteris in the 3rd quarter valued at $109,000. Institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

AIP has been the topic of a number of research reports. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Finally, Northland Securities set a $24.00 price target on shares of Arteris in a report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.17.

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.