Insider Selling: Arteris (NASDAQ:AIP) Major Shareholder Sells 17,884 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 17,884 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $17.84, for a total transaction of $319,050.56. Following the completion of the sale, the insider owned 9,399,071 shares in the company, valued at $167,679,426.64. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% 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 Tuesday, January 13th, Bayview Legacy, Llc sold 2,116 shares of Arteris stock. The shares were sold at an average price of $17.79, for a total value of $37,643.64.
• On Thursday, January 8th, Bayview Legacy, Llc sold 50,000 shares of Arteris stock. The shares were sold at an average price of $16.58, for a total value of $829,000.00.
• On Monday, December 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $17.71, for a total value of $1,239,700.00.
• On Friday, December 5th, Bayview Legacy, Llc sold 60,000 shares of Arteris stock. The shares were sold at an average price of $17.08, for a total value 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 value of $658,400.00.

Arteris Trading Down 4.7%

AIP stock traded down $0.83 during trading on Tuesday, hitting $16.74. 894,478 shares of the company’s stock were exchanged, compared to its average volume of 484,096. The business has a 50-day moving average price of $15.79 and a two-hundred day moving average price of $12.53. The stock has a market capitalization of $731.27 million, a price-to-earnings ratio of -20.17 and a beta of 1.48. Arteris, Inc. has a 52-week low of $5.46 and a 52-week high of $19.85.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on AIP. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price target on shares of Arteris in a research note on Monday, December 15th. TD Cowen lifted their price objective on shares of Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Cowen reaffirmed a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Four 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 MarketBeat.com, Arteris has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Hedge Funds Weigh In On Arteris

Several institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Arteris during the 2nd quarter worth $32,000. BNP Paribas Financial Markets boosted its holdings in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Arteris during the second quarter worth about $97,000. Kapitalo Investimentos Ltda purchased a new position in Arteris during the second quarter worth about $104,000. Finally, Strs Ohio purchased a new position in Arteris during the first quarter worth about $104,000. 64.36% of the stock is owned by institutional investors and hedge funds.

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.