Arteris (NASDAQ:AIP) Major Shareholder Sells $37,643.64 in Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 2,116 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $17.79, for a total value of $37,643.64. Following the completion of the sale, the insider 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 SEC, which is available through this link. Major shareholders that own 10% or more 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 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 stock was sold at an average price of $17.08, for a total value of $1,024,800.00.
• On Thursday, December 4th, Bayview Legacy, Llc sold 40,000 shares of Arteris stock. The shares were sold at an average price of $16.46, for a total value of $658,400.00.

Arteris Stock Up 1.6%

Shares of AIP stock traded up $0.27 on Thursday, hitting $17.37. The stock had a trading volume of 684,250 shares, compared to its average volume of 438,145. Arteris, Inc. has a one year low of $5.46 and a one year high of $19.85. The business has a 50 day moving average price of $15.63 and a 200 day moving average price of $12.33. The company has a market cap of $758.72 million, a PE ratio of -20.93 and a beta of 1.48.

Arteris (NASDAQ:AIP) last issued its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. Equities research analysts expect that Arteris, Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AIP. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. TD Cowen boosted their price target on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Arteris in a research report on Monday, December 15th. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th. Finally, Cowen reissued a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Four 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Hedge Funds Weigh In On Arteris

Several hedge funds have recently modified their holdings of AIP. Raymond James Financial Inc. purchased a new position in shares of Arteris in the 2nd quarter valued at approximately $32,000. BNP Paribas Financial Markets raised its stake in 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. Savant Capital LLC acquired a new stake in Arteris during the 2nd quarter worth about $97,000. Kapitalo Investimentos Ltda acquired a new stake in Arteris during the 2nd quarter worth about $104,000. Finally, Strs Ohio purchased a new stake in Arteris during the 1st quarter valued at about $104,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

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.