Insider Selling: Arteris (NASDAQ:AIP) Major Shareholder Sells $582,610.00 in Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 41,000 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $14.21, for a total transaction of $582,610.00. Following the sale, the insider directly owned 9,238,071 shares in the company, valued at approximately $131,272,988.91. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, March 10th, Bayview Legacy, Llc sold 9,000 shares of Arteris stock. The shares were sold at an average price of $14.66, for a total value of $131,940.00.
• On Tuesday, February 10th, Bayview Legacy, Llc sold 2,756 shares of Arteris stock. The shares were sold at an average price of $15.03, for a total value of $41,422.68.
• On Monday, February 9th, Bayview Legacy, Llc sold 47,244 shares of Arteris stock. The stock was sold at an average price of $15.21, for a total value of $718,581.24.
• On Thursday, January 15th, Bayview Legacy, Llc sold 17,884 shares of Arteris stock. The stock was sold at an average price of $17.84, for a total value of $319,050.56.
• On Tuesday, January 13th, Bayview Legacy, Llc sold 2,116 shares of Arteris stock. The shares were sold at an average price of $17.79, for a total value of $37,643.64.
• 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.

Arteris Price Performance

Arteris stock opened at $14.63 on Friday. The stock has a market capitalization of $665.23 million, a PE ratio of -17.84 and a beta of 1.45. The business has a 50 day simple moving average of $15.80 and a 200-day simple moving average of $14.05. 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 Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. On average, equities research analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Arteris

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in Arteris in the 2nd quarter valued at $32,000. BNP Paribas Financial Markets raised its holdings in shares of Arteris by 75.0% during 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 period. Savant Capital LLC purchased a new position in shares of Arteris during the 2nd quarter worth $97,000. Strs Ohio acquired a new position in shares of Arteris during the 1st quarter valued at about $104,000. Finally, Penn Capital Management Company LLC acquired a new position in shares of Arteris during the 3rd quarter valued at about $109,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Northland Securities set a $24.00 target price on shares of Arteris in a research note on Friday, February 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. 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 stock. Based on data from MarketBeat, Arteris presently has a consensus rating of “Hold” and a consensus price target of $20.17.

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.