Insider Selling: Arteris (NASDAQ:AIP) Major Shareholder Sells $829,000.00 in Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $16.58, for a total transaction of $829,000.00. Following the sale, the insider owned 9,419,071 shares in the company, valued at $156,168,197.18. This represents a 0.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 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 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 shares were sold at an average price of $16.46, for a total value of $658,400.00.

Arteris Stock Down 2.1%

Shares of Arteris stock opened at $17.10 on Thursday. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.85. The stock has a market cap of $746.93 million, a PE ratio of -20.60 and a beta of 1.48. The business has a fifty day simple moving average of $15.63 and a 200-day simple moving average of $12.33.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Arteris

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC raised its stake in shares of Arteris by 40.6% in the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock valued at $6,222,000 after acquiring an additional 260,277 shares in the last quarter. Acuitas Investments LLC acquired a new position in Arteris during the second quarter valued at approximately $858,000. Worth Venture Partners LLC bought a new position in shares of Arteris in the second quarter valued at approximately $451,000. Franklin Resources Inc. raised its position in shares of Arteris by 9.6% in the second quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after purchasing an additional 142,936 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of Arteris by 143.8% in the second quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock worth $1,153,000 after buying an additional 71,340 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

About Arteris

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.