Arteris (NASDAQ:AIP) Major Shareholder Sells $4,508,681.04 in Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 125,976 shares of Arteris stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $35.79, for a total transaction of $4,508,681.04. Following the completion of the transaction, the insider directly owned 8,429,071 shares in the company, valued at approximately $301,676,451.09. The trade was a 1.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 stock was sold at an average price of $36.32, for a total transaction 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 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%

NASDAQ AIP traded up $3.14 on Wednesday, reaching $34.46. The company had a trading volume of 1,084,650 shares, compared to its average volume of 755,391. The company’s fifty day moving average is $36.62 and its 200-day moving average is $23.79. The firm has a market capitalization 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. Arteris, Inc. has a 1-year low of $8.42 and a 1-year high of $50.26.

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

Hedge Funds Weigh In On Arteris

A number of hedge funds and other institutional investors have recently bought and sold shares of AIP. Needham Investment Management LLC increased its position in Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after acquiring an additional 86,500 shares during the period. Franklin Resources Inc. boosted its holdings in Arteris by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock valued at $27,017,000 after purchasing an additional 101,646 shares during the period. Vanguard Group Inc. grew its position in shares of Arteris by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after purchasing an additional 120,947 shares in the last quarter. Westerly Capital Management LLC increased its holdings in shares of Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after purchasing an additional 745,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Arteris by 144.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after purchasing an additional 598,840 shares during the period. Institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AIP. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen increased their price target on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings downgraded Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Jefferies Financial Group boosted their price target on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Finally, Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.