Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 70,000 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 70,000 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $19.04, for a total value of $1,332,800.00. Following the completion of the transaction, the insider owned 9,119,071 shares of the company’s stock, valued at $173,627,111.84. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more 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 Tuesday, March 10th, Bayview Legacy, Llc sold 9,000 shares of Arteris stock. The shares were sold at an average price of $14.66, for a total value of $131,940.00.
• On Monday, March 9th, Bayview Legacy, Llc sold 41,000 shares of Arteris stock. The shares were sold at an average price of $14.21, for a total value of $582,610.00.
• On Tuesday, February 10th, Bayview Legacy, Llc sold 2,756 shares of Arteris stock. The shares were sold at an average price of $15.03, for a total value 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 value 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 value of $319,050.56.
• 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.

Arteris Stock Up 2.8%

Shares of NASDAQ AIP traded up $0.53 during trading on Thursday, hitting $19.56. 490,322 shares of the company traded hands, compared to its average volume of 475,683. Arteris, Inc. has a 1 year low of $5.64 and a 1 year high of $19.85. The company has a 50-day moving average price of $15.77 and a 200-day moving average price of $15.04. The firm has a market capitalization of $889.39 million, a P/E ratio of -23.85 and a beta of 1.43.

Arteris (NASDAQ:AIP) last announced 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 company had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. Research analysts predict that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Trading of Arteris

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in Arteris by 28.0% during the 4th quarter. Invesco Ltd. now owns 17,499 shares of the company’s stock worth $271,000 after purchasing an additional 3,830 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Arteris during the 4th quarter worth $162,000. VestGen Advisors LLC purchased a new stake in Arteris during the 4th quarter worth $218,000. Tudor Investment Corp ET AL purchased a new stake in Arteris during the 4th quarter worth $2,473,000. Finally, Numerai GP LLC purchased a new stake in Arteris during the 4th quarter worth $390,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Arteris in a research note on Friday, February 13th. Finally, Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.17.

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.