Bayview Legacy, Llc Sells 2,116 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 2,116 shares of Arteris stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $17.79, for a total value of $37,643.64. Following the completion of the sale, the insider directly owned 9,416,955 shares of the company’s stock, valued at $167,527,629.45. The trade was a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Thursday, January 8th, Bayview Legacy, Llc sold 50,000 shares of Arteris stock. The shares were sold at an average price of $16.58, for a total value of $829,000.00.
• 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 value 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 stock was sold at an average price of $16.46, for a total transaction of $658,400.00.

Arteris Trading Up 1.2%

AIP opened at $17.57 on Friday. The company’s 50 day moving average is $15.74 and its 200 day moving average is $12.42. The company has a market cap of $767.46 million, a price-to-earnings ratio of -21.17 and a beta of 1.48. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $17.00 million. As a group, analysts predict that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. bought a new stake in Arteris in the second quarter worth $32,000. BNP Paribas Financial Markets grew its stake in shares of Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares in the last quarter. Savant Capital LLC purchased a new position in shares of Arteris in the 2nd quarter worth $97,000. Penn Capital Management Company LLC bought a new stake in shares of Arteris in the 3rd quarter worth about $109,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Arteris during the 2nd quarter valued at about $104,000. Institutional investors own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

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. TD Cowen lifted their price objective on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Arteris to a “hold” rating in a research note on Tuesday, October 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Arteris in a report on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Arteris presently has a consensus rating of “Moderate Buy” and a consensus target price 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.