Arteris (NASDAQ:AIP) Major Shareholder Sells $2,443,700.00 in Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 70,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $34.91, for a total value of $2,443,700.00. Following the transaction, the insider directly owned 8,929,071 shares in the company, valued at approximately $311,713,868.61. The trade was a 0.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, May 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $31.20, for a total transaction of $2,184,000.00.
• On Wednesday, April 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $19.04, for a total transaction of $1,332,800.00.

Arteris Price Performance

Shares of AIP opened at $41.00 on Friday. Arteris, Inc. has a fifty-two week low of $7.92 and a fifty-two week high of $41.56. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -51.90 and a beta of 1.98. The firm has a 50-day simple moving average of $29.64 and a 200-day simple moving average of $20.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. On average, equities research analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Arteris

A number of hedge funds have recently added to or reduced their stakes in AIP. Intech Investment Management LLC increased its holdings in Arteris by 9.3% in the fourth quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after buying an additional 1,148 shares in the last quarter. Deutsche Bank AG increased its holdings in Arteris by 7.7% in the fourth quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock valued at $328,000 after buying an additional 1,504 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after buying an additional 2,595 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Arteris by 12.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after buying an additional 2,613 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Arteris by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,453 shares of the company’s stock valued at $271,000 after buying an additional 2,955 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AIP. Northland Securities set a $38.00 target price on shares of Arteris in a research note on Wednesday, May 13th. Weiss Ratings downgraded shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen increased their target price on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities increased their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.75.

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.