Bayview Legacy, Llc Sells 50,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $16.58, for a total transaction of $829,000.00. Following the transaction, the insider directly owned 9,419,071 shares of the company’s stock, valued at $156,168,197.18. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% 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 Monday, December 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was 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 shares were sold at an average price of $16.46, for a total value of $658,400.00.

Arteris Price Performance

Shares of AIP traded up $0.14 during trading hours on Monday, hitting $17.37. The stock had a trading volume of 397,728 shares, compared to its average volume of 433,789. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.85. The firm has a market capitalization of $758.72 million, a PE ratio of -20.93 and a beta of 1.48. The stock has a fifty day moving average price of $15.41 and a 200 day moving average price of $12.18.

Arteris (NASDAQ:AIP) last posted its earnings results 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 firm had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. As a group, analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AIP. SG Americas Securities LLC bought a new position in Arteris in the fourth quarter worth approximately $344,000. Wealth Enhancement Advisory Services LLC bought a new position in Arteris during the 4th quarter worth about $255,000. Penn Capital Management Company LLC purchased a new position in Arteris during the 3rd quarter valued at about $109,000. Worth Venture Partners LLC raised its holdings in shares of Arteris by 24.2% in the 3rd quarter. Worth Venture Partners LLC now owns 58,731 shares of the company’s stock valued at $593,000 after purchasing an additional 11,446 shares in the last quarter. Finally, Westerly Capital Management LLC lifted its position in shares of Arteris by 109.6% in the 3rd 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. 64.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Cowen reiterated a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Wall Street Zen upgraded Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Monday, December 15th. Finally, TD Cowen raised their target price on shares of Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

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.