Bayview Legacy, Llc Sells 100,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 100,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total value of $2,075,000.00. Following the transaction, the insider directly owned 8,229,071 shares in the company, valued at approximately $170,753,223.25. This represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Bayview Legacy, Llc also recently made the following trade(s):

• On Tuesday, August 4th, Bayview Legacy, Llc sold 26,106 shares of Arteris stock. The stock was 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.
• On Monday, July 6th, Bayview Legacy, Llc sold 125,976 shares of Arteris stock. The stock was sold at an average price of $35.79, for a total value of $4,508,681.04.
• 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 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.

Arteris Trading Down 0.8%

NASDAQ:AIP traded down $0.16 during trading hours on Thursday, reaching $20.68. 624,268 shares of the company were exchanged, compared to its average volume of 734,831. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -23.77 and a beta of 1.91. The stock has a 50 day simple moving average of $30.68 and a 200 day simple moving average of $27.41. Arteris, Inc. has a 52-week low of $8.42 and a 52-week high of $50.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

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

Institutional Investors Weigh In On Arteris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Needham Investment Management LLC boosted its position in Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares during the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Arteris during the fourth quarter worth about $1,914,000. Sei Investments Co. lifted its stake in shares of Arteris by 43.1% in the first quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock worth $2,799,000 after acquiring an additional 51,279 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Arteris in the first quarter worth about $2,124,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Arteris in the second quarter valued at about $7,381,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AIP. Oppenheimer started coverage on shares of Arteris in a research note on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price on the stock. Northland Securities set a $38.00 price target on Arteris in a report on Wednesday, May 13th. Roth Capital initiated coverage on Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price objective on the stock. TD Cowen boosted their price objective on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

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.