Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 100,000 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total transaction of $2,075,000.00. Following the sale, the insider directly owned 8,229,071 shares of the company’s stock, valued at $170,753,223.25. The trade was a 1.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more 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, August 4th, Bayview Legacy, Llc sold 26,106 shares of Arteris stock. The shares were sold at an average price of $31.97, for a total transaction of $834,608.82.
• On Monday, August 3rd, Bayview Legacy, Llc sold 73,894 shares of Arteris stock. The shares were sold at an average price of $30.00, for a total transaction of $2,216,820.00.
• On Monday, July 6th, Bayview Legacy, Llc sold 125,976 shares of Arteris stock. The shares were sold at an average price of $35.79, for a total transaction of $4,508,681.04.
• On Thursday, July 2nd, Bayview Legacy, Llc sold 192,686 shares of Arteris stock. The stock was sold at an average price of $36.32, for a total transaction of $6,998,355.52.
• On Monday, June 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $34.91, for a total transaction of $2,443,700.00.

Arteris Stock Down 0.8%

Shares of Arteris stock traded down $0.16 during trading on Thursday, reaching $20.68. The company had a trading volume of 624,268 shares, compared to its average volume of 734,831. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The firm’s fifty day moving average is $30.68 and its 200-day moving average is $27.41. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -23.77 and a beta of 1.91.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The firm had revenue of $24.13 million during the quarter, compared to the consensus estimate of $23.48 million. On average, analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AIP. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $50.00 in a research note on Friday, August 7th. 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 report on Wednesday, May 13th. Roth Capital initiated coverage on shares of Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target on the stock. Weiss Ratings raised shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, Northland Securities set a $38.00 price objective on shares of Arteris in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Institutional Investors Weigh In On Arteris

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Arteris during the second quarter valued at $160,129,000. California State Teachers Retirement System grew its position in shares of Arteris by 105,728.3% during the second quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company’s stock worth $87,829,000 after acquiring an additional 1,805,840 shares during the last quarter. Westerly Capital Management LLC increased its holdings in shares of Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after acquiring an additional 745,000 shares during the period. Nuveen LLC increased its holdings in shares of Arteris by 872.3% in the 4th quarter. Nuveen LLC now owns 737,281 shares of the company’s stock worth $11,428,000 after acquiring an additional 661,454 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Arteris by 144.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after purchasing an additional 598,840 shares during the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

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.