Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 73,894 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 73,894 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $30.00, for a total value of $2,216,820.00. Following the transaction, the insider directly owned 8,355,177 shares of the company’s stock, valued at approximately $250,655,310. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, August 4th, Bayview Legacy, Llc sold 26,106 shares of Arteris stock. The shares were sold at an average price of $31.97, for a total value of $834,608.82.
• On Monday, July 6th, Bayview Legacy, Llc sold 125,976 shares of Arteris stock. The shares were sold at an average price of $35.79, for a total transaction 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 transaction of $6,998,355.52.
• On Monday, June 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $34.91, for a total transaction of $2,443,700.00.
• On Friday, May 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The shares were sold at an average price of $31.20, for a total transaction of $2,184,000.00.

Arteris Stock Down 3.6%

Shares of NASDAQ AIP opened at $30.93 on Thursday. The company’s 50-day simple moving average is $36.17 and its 200-day simple moving average is $26.06. Arteris, Inc. has a 52-week low of $8.42 and a 52-week high of $50.26. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. Equities analysts predict that Arteris, Inc. will post -0.6 EPS for the current fiscal year.

Trending Headlines about Arteris

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Roth Capital began coverage of Arteris with a Buy rating and a $40 price target, implying roughly 29% upside from the referenced $30.93 level. The initiation provides a new positive valuation signal for the semiconductor-design software company. Benzinga coverage
• Neutral Sentiment: The latest insider filings show that CEO K. Charles Janac and major shareholder Bayview Legacy each reported sales of 73,894 shares on August 3 at approximately $30.00 per share, followed by 26,106 shares on August 4 at approximately $31.97. Because the transactions appear in separate ownership filings, the reported figures should not necessarily be treated as entirely separate economic sales. CEO SEC filing
• Negative Sentiment: Additional insider selling included Director Saiyed Atiq Raza’s sale of 70,000 shares for about $2.1 million and Vice President Paul L. Alpern’s sale of 4,000 shares for roughly $120,000. The cluster of sales by senior executives and directors may pressure the stock by signaling that insiders are monetizing holdings, even though substantial ownership remains. Director SEC filing

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AIP shares. Rosenblatt Securities lifted their price target on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Roth Capital began coverage on Arteris in a research note on Tuesday. They issued a “buy” rating and a $40.00 price objective for the company. Jefferies Financial Group raised their price objective on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Oppenheimer began coverage on shares of Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Weiss Ratings lowered shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Institutional Investors Weigh In On Arteris

Large investors have recently made changes to their positions in the stock. Needham Investment Management LLC boosted its stake in Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after buying an additional 86,500 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Arteris by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock worth $27,017,000 after acquiring an additional 101,646 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Arteris by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after acquiring an additional 120,947 shares during the period. Westerly Capital Management LLC raised its holdings in shares of Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after acquiring an additional 745,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Arteris by 144.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after acquiring an additional 598,840 shares during the period. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

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.