Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 26,106 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 26,106 shares of Arteris stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.97, for a total transaction of $834,608.82. Following the completion of the transaction, the insider directly owned 8,329,071 shares of the company’s stock, valued at $266,280,399.87. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a 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 sales and purchases with the SEC.

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

• On Monday, August 3rd, Bayview Legacy, Llc sold 73,894 shares of Arteris stock. The shares were sold at an average price of $30.00, for a total transaction of $2,216,820.00.
• On Monday, July 6th, Bayview Legacy, Llc sold 125,976 shares of Arteris stock. The shares were sold at an average price of $35.79, for a total transaction of $4,508,681.04.
• On Thursday, July 2nd, Bayview Legacy, Llc sold 192,686 shares of Arteris stock. The stock was sold at an average price of $36.32, for a total value of $6,998,355.52.
• 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 value of $2,443,700.00.
• On Friday, May 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $31.20, for a total value of $2,184,000.00.

Arteris Trading Down 3.6%

Shares of AIP stock opened at $30.93 on Thursday. The company has a market cap of $1.43 billion, a PE ratio of -39.15 and a beta of 1.96. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26. The stock’s 50 day simple moving average is $36.17 and its two-hundred day simple moving average is $26.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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. Research analysts predict that Arteris, Inc. will post -0.6 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Oppenheimer began coverage on shares of Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 price target for the company. TD Cowen increased their price objective on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Jefferies Financial Group raised their price objective on shares of Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arteris has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Arteris News Summary

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Roth Capital began coverage of Arteris with a Buy rating and a $40 price target, implying roughly 29% upside from the referenced $30.93 level. The initiation provides a new positive valuation signal for the semiconductor-design software company. Benzinga coverage
• Neutral Sentiment: The latest insider filings show that CEO K. Charles Janac and major shareholder Bayview Legacy each reported sales of 73,894 shares on August 3 at approximately $30.00 per share, followed by 26,106 shares on August 4 at approximately $31.97. Because the transactions appear in separate ownership filings, the reported figures should not necessarily be treated as entirely separate economic sales. CEO SEC filing
• Negative Sentiment: Additional insider selling included Director Saiyed Atiq Raza’s sale of 70,000 shares for about $2.1 million and Vice President Paul L. Alpern’s sale of 4,000 shares for roughly $120,000. The cluster of sales by senior executives and directors may pressure the stock by signaling that insiders are monetizing holdings, even though substantial ownership remains. Director SEC filing

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Arteris in the second quarter worth about $32,000. Versant Capital Management Inc increased its stake in Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after buying an additional 290 shares during the period. BNP Paribas Financial Markets lifted its holdings in Arteris by 75.0% during 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 in the last quarter. Royal Bank of Canada lifted its holdings in Arteris by 366.7% during 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 in the last quarter. Finally, Strs Ohio purchased a new stake in Arteris in the 1st quarter valued at about $104,000. 64.36% of the stock is currently owned by institutional investors.

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.