Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 70,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 70,000 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $34.91, for a total value of $2,443,700.00. Following the transaction, the insider owned 8,929,071 shares of the company’s stock, valued at $311,713,868.61. This trade represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, May 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $31.20, for a total value of $2,184,000.00.
• On Wednesday, April 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $19.04, for a total value of $1,332,800.00.

Arteris Trading Down 0.7%

Shares of Arteris stock opened at $33.51 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -42.42 and a beta of 1.98. The business has a fifty day simple moving average of $28.76 and a 200-day simple moving average of $20.39. Arteris, Inc. has a fifty-two week low of $7.92 and a fifty-two week high of $38.99.

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

Analyst Ratings Changes

Several research firms have recently weighed in on AIP. Wall Street Zen lowered shares of Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Rosenblatt Securities raised their price objective on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 price objective on shares of Arteris in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group raised their price objective on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.75.

Hedge Funds Weigh In On Arteris

A number of hedge funds have recently modified their holdings of AIP. Raymond James Financial Inc. acquired a new position in shares of Arteris in the 2nd quarter worth $32,000. BNP Paribas Financial Markets grew its holdings 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 acquiring an additional 2,595 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after acquiring an additional 3,161 shares during the last quarter. Strs Ohio acquired a new position in shares of Arteris in the 1st quarter worth $104,000. Finally, Penn Capital Management Company LLC acquired a new position in shares of Arteris in the 3rd quarter worth $109,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

About Arteris

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.