Bayview Legacy, Llc Sells 100,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 100,000 shares of the business’s stock in a transaction dated 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 completion of 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 legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 stock was 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 stock was sold at an average price of $30.00, for a total value 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 value of $4,508,681.04.
• 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 value of $2,443,700.00.

Arteris Trading Up 3.3%

NASDAQ:AIP opened at $21.37 on Friday. The company has a market cap of $1.05 billion, a PE ratio of -24.56 and a beta of 1.91. The business’s 50 day moving average is $29.78 and its two-hundred day moving average is $27.41. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26.

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

Analyst Upgrades and Downgrades

AIP has been the topic of a number of research reports. Roth Capital assumed coverage on shares of Arteris in a report on Tuesday, August 4th. They set a “buy” rating and a $40.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $38.00 price target on shares of Arteris in a report on Friday, August 7th. Jefferies Financial Group raised shares of Arteris from a “hold” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $50.00 in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Finally, TD Cowen raised 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. Five equities research 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Institutional Investors Weigh In On Arteris

A number of hedge funds have recently added to or reduced their stakes in AIP. Needham Investment Management LLC grew its position in Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after purchasing an additional 86,500 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new position in Arteris during the 4th quarter valued at about $1,914,000. Sei Investments Co. raised its position in shares of Arteris by 43.1% during the 1st quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock worth $2,799,000 after buying an additional 51,279 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Arteris during the 1st quarter worth about $2,124,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Arteris in the 2nd quarter worth approximately $7,381,000. 64.36% of the stock is currently owned by institutional investors.

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.