Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 2,116 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 2,116 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $17.79, for a total transaction of $37,643.64. Following the transaction, the insider directly owned 9,416,955 shares of the company’s stock, valued at $167,527,629.45. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Thursday, January 8th, Bayview Legacy, Llc sold 50,000 shares of Arteris stock. The stock was sold at an average price of $16.58, for a total transaction of $829,000.00.
• On Monday, December 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The shares were sold at an average price of $17.71, for a total transaction of $1,239,700.00.
• On Friday, December 5th, Bayview Legacy, Llc sold 60,000 shares of Arteris stock. The stock was sold at an average price of $17.08, for a total transaction of $1,024,800.00.
• On Thursday, December 4th, Bayview Legacy, Llc sold 40,000 shares of Arteris stock. The stock was sold at an average price of $16.46, for a total transaction of $658,400.00.

Arteris Price Performance

Shares of NASDAQ AIP opened at $17.37 on Friday. The business has a 50-day moving average of $15.68 and a 200-day moving average of $12.36. The stock has a market capitalization of $758.72 million, a price-to-earnings ratio of -20.93 and a beta of 1.48. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $17.41 million for the quarter, compared to analyst estimates of $17.00 million. On average, sell-side analysts expect that Arteris, Inc. will post -0.73 EPS for the current year.

Hedge Funds Weigh In On Arteris

A number of large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares during the period. Public Employees Retirement System of Ohio increased its position in Arteris by 12.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after buying an additional 2,613 shares during the period. Strs Ohio lifted its holdings in shares of Arteris by 16.5% during the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock worth $207,000 after buying an additional 2,900 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Arteris during the second quarter worth $32,000. Finally, Franklin Resources Inc. boosted its position in shares of Arteris by 0.3% in the third quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock valued at $16,578,000 after acquiring an additional 4,214 shares during the period. Institutional investors own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AIP shares. TD Cowen upped their target price on shares of Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research report on Monday, December 15th. Cowen reiterated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arteris currently has an average rating of “Moderate Buy” and an average target price of $17.50.

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.