Insider Selling: Arteris (NASDAQ:AIP) Major Shareholder Sells 40,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 40,000 shares of Arteris stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $16.46, for a total value of $658,400.00. Following the transaction, the insider owned 9,599,071 shares in the company, valued at approximately $158,000,708.66. The trade was a 0.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% 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 Wednesday, October 8th, Bayview Legacy, Llc sold 50,000 shares of Arteris stock. The shares were sold at an average price of $13.07, for a total value of $653,500.00.
• On Monday, October 6th, Bayview Legacy, Llc sold 100,000 shares of Arteris stock. The shares were sold at an average price of $13.10, for a total value of $1,310,000.00.

Arteris Trading Up 3.6%

NASDAQ AIP traded up $0.63 during trading hours on Monday, reaching $18.18. The company had a trading volume of 917,842 shares, compared to its average volume of 588,102. The stock has a market capitalization of $794.18 million, a P/E ratio of -21.90 and a beta of 1.49. The stock has a 50-day moving average of $13.59 and a 200 day moving average of $10.69. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $18.21.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. The business had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. As a group, sell-side analysts predict that Arteris, Inc. will post -0.73 EPS for the current year.

Analysts Set New Price Targets

AIP has been the subject of several research analyst reports. TD Cowen raised their price target on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Cowen restated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Jefferies Financial Group raised Arteris to a “hold” rating in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Arteris currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Institutional Investors Weigh In On Arteris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Penn Capital Management Company LLC acquired a new position in Arteris in the third quarter valued at $109,000. Worth Venture Partners LLC lifted its holdings in shares of Arteris by 24.2% in the 3rd quarter. Worth Venture Partners LLC now owns 58,731 shares of the company’s stock valued at $593,000 after purchasing an additional 11,446 shares during the last quarter. Westerly Capital Management LLC lifted its holdings in shares of Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after purchasing an additional 745,000 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Arteris in the 3rd quarter valued at about $113,000. Finally, Public Employees Retirement System of Ohio grew its stake in Arteris by 12.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after buying an additional 2,613 shares during the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.