Insider Selling: Arteris (NASDAQ:AIP) Major Shareholder Sells 100,000 Shares of Company Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 100,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $23.82, for a total value of $2,382,000.00. Following the transaction, the insider owned 8,129,071 shares in the company, valued at approximately $193,634,471.22. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 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 Tuesday, September 1st, Bayview Legacy, Llc sold 100,000 shares of Arteris stock. The stock was sold at an average price of $20.75, for a total value of $2,075,000.00.
• On Tuesday, August 4th, Bayview Legacy, Llc sold 26,106 shares of Arteris stock. The shares were sold at an average price of $31.97, for a total value of $834,608.82.
• 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 value of $2,216,820.00.

Arteris Stock Performance

AIP traded down $0.69 on Monday, hitting $23.97. The company had a trading volume of 784,618 shares, compared to its average volume of 730,172. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -27.55 and a beta of 1.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company’s fifty day moving average price is $24.86 and its 200 day moving average price is $28.55. Arteris, Inc. has a 1-year low of $12.06 and a 1-year high of $50.26.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The company had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.48 million. Equities analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AIP. WINTON GROUP Ltd bought a new stake in shares of Arteris in the second quarter valued at about $384,000. Spark Investment Management LLC bought a new position in Arteris during the second quarter valued at about $1,074,000. Arizona State Retirement System acquired a new position in Arteris in the 2nd quarter valued at approximately $442,000. Corient Private Wealth LP acquired a new position in Arteris in the 2nd quarter valued at approximately $471,000. Finally, AXQ Capital LP bought a new stake in shares of Arteris in the 2nd quarter worth approximately $661,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Roth Capital started coverage on shares of Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 target price for the company. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $50.00 in a research note on Friday, August 7th. Oppenheimer started coverage on Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $38.00 target price on shares of Arteris in a report on Friday, August 7th. Finally, Craig Hallum assumed coverage on Arteris in a research report on Monday, September 21st. They issued a “buy” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.43.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.