Bayview Legacy, Llc Sells 2,116 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 2,116 shares of Arteris stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $17.79, for a total value of $37,643.64. Following the sale, the insider directly owned 9,416,955 shares of the company’s stock, valued at $167,527,629.45. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 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 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.
• On Monday, December 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The shares were 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 shares were 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 stock was sold at an average price of $16.46, for a total transaction of $658,400.00.

Arteris Stock Performance

NASDAQ AIP traded up $0.27 on Thursday, reaching $17.37. 684,250 shares of the company’s stock traded hands, compared to its average volume of 438,145. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The firm has a market cap of $758.72 million, a price-to-earnings ratio of -20.93 and a beta of 1.48. The stock has a 50 day moving average price of $15.63 and a 200-day moving average price of $12.33.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $17.00 million. As a group, equities research analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. acquired a new stake in Arteris during the 2nd quarter worth $32,000. BNP Paribas Financial Markets lifted its stake in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares in the last quarter. Savant Capital LLC acquired a new position in Arteris during the second quarter worth about $97,000. Kapitalo Investimentos Ltda acquired a new position in Arteris during the second quarter worth about $104,000. Finally, Strs Ohio purchased a new stake in Arteris during the 1st quarter valued at about $104,000. 64.36% of the stock is 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.