Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 100,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total transaction of $2,075,000.00. Following the completion of the sale, the insider directly owned 8,229,071 shares of the company’s stock, valued at $170,753,223.25. This represents a 1.20% 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. Large 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 stock was sold at an average price of $31.97, for a total transaction of $834,608.82.
• On Monday, August 3rd, Bayview Legacy, Llc sold 73,894 shares of Arteris stock. The stock was sold at an average price of $30.00, for a total value of $2,216,820.00.
• 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 value 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 shares were sold at an average price of $34.91, for a total value of $2,443,700.00.

Arteris Stock Down 0.8%

Shares of AIP stock opened at $20.68 on Friday. Arteris, Inc. has a one year low of $8.42 and a one year high of $50.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a fifty day moving average price of $30.22 and a 200 day moving average price of $27.45. The stock has a market cap of $1.02 billion, a P/E ratio of -23.77 and a beta of 1.91.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%.The company had revenue of $24.13 million during the quarter, compared to analyst estimates of $23.48 million. Analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Arteris from a “hold” rating to a “buy” rating and raised their price target for the company from $35.00 to $50.00 in a report on Friday, August 7th. Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday, May 13th. Oppenheimer initiated coverage on Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $38.00 target price on shares of Arteris in a research note on Friday, August 7th. Finally, Roth Capital assumed coverage on Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Arteris currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Institutional Trading of Arteris

A number of large investors have recently bought and sold shares of the business. Needham Investment Management LLC lifted its stake in Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Arteris during the second quarter worth $160,129,000. California State Teachers Retirement System raised its holdings in shares of Arteris by 105,728.3% during the second quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company’s stock worth $87,829,000 after acquiring an additional 1,805,840 shares during the period. Franklin Resources Inc. raised its holdings in shares of Arteris by 6.2% during the fourth 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 period. Finally, Vanguard Group Inc. lifted its position in Arteris by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after acquiring an additional 120,947 shares in the last quarter. 64.36% of the stock is owned by institutional investors.

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.