Arteris (NASDAQ:AIP) Major Shareholder Sells 41,000 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 41,000 shares of Arteris stock in a transaction on Monday, March 9th. The shares were sold at an average price of $14.21, for a total value of $582,610.00. Following the transaction, the insider directly owned 9,238,071 shares of the company’s stock, valued at approximately $131,272,988.91. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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, March 10th, Bayview Legacy, Llc sold 9,000 shares of Arteris stock. The stock was sold at an average price of $14.66, for a total transaction of $131,940.00.
• On Tuesday, February 10th, Bayview Legacy, Llc sold 2,756 shares of Arteris stock. The stock was sold at an average price of $15.03, for a total transaction of $41,422.68.
• On Monday, February 9th, Bayview Legacy, Llc sold 47,244 shares of Arteris stock. The shares were sold at an average price of $15.21, for a total transaction of $718,581.24.
• On Thursday, January 15th, Bayview Legacy, Llc sold 17,884 shares of Arteris stock. The shares were sold at an average price of $17.84, for a total transaction of $319,050.56.
• On Tuesday, January 13th, Bayview Legacy, Llc sold 2,116 shares of Arteris stock. The stock was sold at an average price of $17.79, for a total transaction 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 transaction of $829,000.00.

Arteris Price Performance

Shares of AIP traded up $0.37 on Wednesday, hitting $15.62. The company’s stock had a trading volume of 430,133 shares, compared to its average volume of 490,737. The company has a market capitalization of $710.24 million, a PE ratio of -19.05 and a beta of 1.45. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The company has a 50 day moving average price of $15.84 and a 200 day moving average price of $14.00.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million during the quarter, compared to the consensus estimate of $18.55 million. On average, equities analysts forecast that Arteris, Inc. will post -0.73 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Northland Securities set a $24.00 target price on shares of Arteris in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.17.

Institutional Investors Weigh In On Arteris

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Arteris in the second quarter valued at about $32,000. BNP Paribas Financial Markets increased its position in Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares during the period. New York State Common Retirement Fund raised 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 worth $147,000 after purchasing an additional 7,400 shares during the last quarter. Savant Capital LLC acquired a new position in Arteris during the 2nd quarter valued at about $97,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Arteris during the 4th quarter valued at about $162,000. Institutional investors own 64.36% of the company’s stock.

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.