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

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 70,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $34.91, for a total value of $2,443,700.00. Following the completion of the transaction, the insider directly owned 8,929,071 shares of the company’s stock, valued at approximately $311,713,868.61. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 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%

AIP stock traded down $0.25 during trading on Wednesday, hitting $33.51. The company had a trading volume of 811,289 shares, compared to its average volume of 675,542. The business has a 50-day moving average of $28.39 and a 200-day moving average of $20.24. Arteris, Inc. has a one year low of $7.92 and a one year high of $38.99. The stock has a market cap of $1.55 billion, a PE ratio of -42.42 and a beta of 1.98. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17.

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

Hedge Funds Weigh In On Arteris

Several institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in Arteris by 10.4% in the first quarter. Janus Henderson Group PLC now owns 106,921 shares of the company’s stock valued at $1,758,000 after buying an additional 10,062 shares during the period. Royal Bank of Canada lifted its stake in Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after buying an additional 3,161 shares during the period. Quantinno Capital Management LP lifted its stake in Arteris by 21.5% in the first quarter. Quantinno Capital Management LP now owns 18,067 shares of the company’s stock valued at $297,000 after buying an additional 3,200 shares during the period. Lazard Asset Management LLC acquired a new position in Arteris in the first quarter valued at approximately $2,124,000. Finally, Granahan Investment Management LLC lifted its stake in Arteris by 201.0% in the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after buying an additional 476,181 shares during the period. 64.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. TD Cowen upped their target price on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Northland Securities set a $38.00 target price on Arteris in a report on Wednesday, May 13th. Rosenblatt Securities upped their target price on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.75.

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.