Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 192,686 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 192,686 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the completion of the sale, the insider directly owned 8,555,047 shares in the company, valued at approximately $310,719,307.04. This represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Bayview Legacy, Llc also recently made the following trade(s):

• 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 transaction of $2,443,700.00.
• On Friday, May 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The shares were sold at an average price of $31.20, for a total value of $2,184,000.00.
• On Wednesday, April 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The shares were sold at an average price of $19.04, for a total value of $1,332,800.00.

Arteris Trading Down 0.7%

Shares of NASDAQ:AIP traded down $0.24 on Monday, hitting $34.82. 1,091,305 shares of the company’s stock were exchanged, compared to its average volume of 747,970. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -44.08 and a beta of 1.92. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50 day simple moving average is $36.32 and its two-hundred day simple moving average is $23.54.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $21.03 million. Analysts anticipate that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on AIP. TD Cowen lifted their price objective on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Rosenblatt Securities boosted their price target on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 price objective on shares of Arteris in a research note on Wednesday, May 13th. Finally, Wall Street Zen lowered shares of Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.75.

Institutional Investors Weigh In On Arteris

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Arteris in the second quarter valued at $32,000. Versant Capital Management Inc raised its stake in shares of Arteris by 33.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after buying an additional 290 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of 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 buying an additional 2,595 shares during the period. Royal Bank of Canada lifted its holdings in shares of Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after buying an additional 3,161 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Arteris in the first quarter worth about $104,000. Hedge funds and other 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.