Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 70,000 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 70,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00. Following the completion of the sale, the insider owned 8,929,071 shares in the company, valued at $311,713,868.61. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 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 Friday, May 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The shares were 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 Stock Down 0.7%

AIP stock traded down $0.25 during mid-day trading on Wednesday, hitting $33.51. 811,289 shares of the company were exchanged, compared to its average volume of 675,542. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $1.55 billion, a P/E ratio of -42.42 and a beta of 1.98. The firm’s 50 day simple moving average is $28.39 and its 200 day simple moving average is $20.24. Arteris, Inc. has a 1-year low of $7.92 and a 1-year high of $38.99.

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

Hedge Funds Weigh In On Arteris

Hedge funds have recently made changes to their positions in the business. Needham Investment Management LLC grew its stake in shares of Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Arteris by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock valued at $27,017,000 after buying an additional 101,646 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after buying an additional 120,947 shares in the last quarter. Westerly Capital Management LLC grew its stake in shares of Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after buying an additional 745,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Arteris by 144.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after buying an additional 598,840 shares in the last quarter. 64.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Rosenblatt Securities raised their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. TD Cowen raised their price target 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. Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Northland Securities set a $38.00 price target on shares of Arteris in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group raised their price target on shares of Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.