Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 125,976 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 125,976 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $35.79, for a total value of $4,508,681.04. Following the completion of the sale, the insider owned 8,429,071 shares in the company, valued at $301,676,451.09. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more 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 Thursday, July 2nd, Bayview Legacy, Llc sold 192,686 shares of Arteris stock. The shares were 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 shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00.
• On Friday, May 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The shares were sold at an average price of $31.20, for a total transaction of $2,184,000.00.

Arteris Stock Up 10.0%

AIP opened at $34.46 on Thursday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -43.62 and a beta of 1.92. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50-day simple moving average is $36.78 and its 200-day simple moving average is $23.92. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. Equities research analysts anticipate that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Arteris News Summary

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Arteris announced a collaboration with IC-Link by imec to accelerate next-generation AI and high-performance computing silicon, which could support future design wins and reinforce demand for its semiconductor IP in fast-growing end markets. Article Title
• Neutral Sentiment: The company continues to benefit from a generally constructive analyst backdrop after its last earnings report beat expectations on both EPS and revenue, which may be helping investor confidence in the stock’s outlook.
• Negative Sentiment: Several insiders, including CEO K. Charles Janac, VP Paul L. Alpern, and major shareholder Bayview Legacy, LLC, sold shares this week. While insider selling does not necessarily signal a business problem, the timing can pressure sentiment because it may suggest executives and owners view the recent share price strength as a good opportunity to take profits.

Hedge Funds Weigh In On Arteris

A number of large investors have recently modified their holdings of AIP. AQR Capital Management LLC acquired a new stake in shares of Arteris in the first quarter valued at approximately $1,621,000. Strs Ohio acquired a new position in Arteris during the 1st quarter worth $104,000. Geode Capital Management LLC raised its position in shares of Arteris by 4.8% during the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock worth $6,222,000 after acquiring an additional 30,018 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Arteris by 35.8% during the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock valued at $519,000 after acquiring an additional 14,350 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Arteris by 8.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock valued at $3,053,000 after acquiring an additional 25,448 shares during the period. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIP has been the topic of several recent analyst reports. Weiss Ratings downgraded Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Rosenblatt Securities lifted their price objective on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Jefferies Financial Group boosted their price objective on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Northland Securities set a $38.00 target price on Arteris in a report on Wednesday, May 13th. Finally, Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Two 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. According to data from MarketBeat, Arteris currently has a consensus rating of “Hold” and a consensus price target of $37.75.

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.