Bayview Legacy, Llc Sells 125,976 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 125,976 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $35.79, for a total value of $4,508,681.04. Following the sale, the insider owned 8,429,071 shares of the company’s stock, valued at approximately $301,676,451.09. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Thursday, July 2nd, Bayview Legacy, Llc sold 192,686 shares of Arteris stock. The shares were sold at an average price of $36.32, for a total value 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.
• 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.

Arteris Price Performance

Shares of NASDAQ:AIP traded up $3.14 during midday trading on Wednesday, hitting $34.46. The stock had a trading volume of 1,084,650 shares, compared to its average volume of 755,391. The company’s 50-day moving average price is $36.62 and its 200-day moving average price is $23.79. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.59 billion, a P/E ratio of -43.62 and a beta of 1.92.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. As a group, equities research analysts predict that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AIP. Northland Securities set a $38.00 price objective on Arteris in a research report on Wednesday, May 13th. Weiss Ratings downgraded Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. 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. Jefferies Financial Group raised their price target on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities lifted their price target on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.75.

Institutional Investors Weigh In On Arteris

A number of hedge funds and other institutional investors have recently bought and sold shares of AIP. Raymond James Financial Inc. acquired a new position in Arteris in the 2nd quarter worth about $32,000. Versant Capital Management Inc boosted its stake in shares of Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after purchasing an additional 290 shares in the last quarter. BNP Paribas Financial Markets grew its holdings 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 purchasing an additional 2,595 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after buying an additional 3,161 shares during the period. Finally, Strs Ohio bought a new position in Arteris in the 1st quarter valued at approximately $104,000. Institutional investors own 64.36% of the company’s stock.

About Arteris

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.