Bayview Legacy, Llc Sells 26,106 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 26,106 shares of Arteris stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $31.97, for a total transaction of $834,608.82. Following the transaction, the insider directly owned 8,329,071 shares in the company, valued at $266,280,399.87. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 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 shares were 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 shares were sold at an average price of $31.20, for a total transaction of $2,184,000.00.

Arteris Trading Down 3.6%

AIP traded down $1.16 during trading hours on Wednesday, reaching $30.93. The company’s stock had a trading volume of 521,833 shares, compared to its average volume of 734,745. The stock has a market cap of $1.43 billion, a PE ratio of -39.15 and a beta of 1.96. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50-day moving average is $36.29 and its 200-day moving average is $25.97.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) 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. As a group, equities research analysts predict that Arteris, Inc. will post -0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AIP. Versant Capital Management Inc grew its stake in shares of Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after buying an additional 290 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Arteris in the 2nd quarter valued at $32,000. Royal Bank of Canada lifted its stake in Arteris by 366.7% during the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after acquiring an additional 3,161 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in 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 acquiring an additional 2,595 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Arteris by 352.4% during the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after acquiring an additional 7,400 shares during the period. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIP has been the subject of a number of recent analyst reports. TD Cowen raised their price objective on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Roth Capital initiated coverage on shares of Arteris in a research report on Tuesday. They issued a “buy” rating and a $40.00 target price on the stock. Jefferies Financial Group increased their target price 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. 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 research report on Wednesday, May 13th. Finally, Oppenheimer assumed coverage on shares of Arteris in a research note on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price target on the stock. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.50.

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.