Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 9,000 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $14.66, for a total value of $131,940.00. Following the transaction, the insider directly owned 9,229,071 shares of the company’s stock, valued at approximately $135,298,180.86. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 transaction of $582,610.00.
• 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 stock was 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 shares were 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 stock was sold at an average price of $16.58, for a total transaction of $829,000.00.

Arteris Trading Up 2.4%

Shares of Arteris stock traded up $0.37 during trading hours on Wednesday, reaching $15.62. 430,133 shares of the company’s stock were exchanged, compared to its average volume of 490,737. The stock has a market cap of $710.24 million, a P/E ratio of -19.05 and a beta of 1.45. The company has a 50 day moving average of $15.84 and a two-hundred day moving average of $14.00. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. As a group, analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on AIP. Northland Securities set a $24.00 price target on Arteris in a research report on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Arteris in a report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arteris presently has a consensus rating of “Hold” and an average price target of $20.17.

Institutional Investors Weigh In On Arteris

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in Arteris during the first quarter worth approximately $1,621,000. Strs Ohio acquired a new stake in shares of Arteris in the first quarter valued at approximately $104,000. Savant Capital LLC acquired a new stake in shares of Arteris in the second quarter valued at approximately $97,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Arteris during the 2nd quarter worth approximately $151,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Arteris during the 2nd quarter worth approximately $254,000. 64.36% of the stock is currently 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.