Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 9,000 Shares

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 9,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $14.66, for a total value of $131,940.00. Following the completion of the sale, the insider directly owned 9,229,071 shares of the company’s stock, valued at approximately $135,298,180.86. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% 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 Monday, March 9th, Bayview Legacy, Llc sold 41,000 shares of Arteris stock. The stock was sold at an average price of $14.21, for a total transaction of $582,610.00.
• 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 transaction of $41,422.68.
• On Monday, February 9th, Bayview Legacy, Llc sold 47,244 shares of Arteris stock. The shares were sold at an average price of $15.21, for a total transaction 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 transaction of $319,050.56.
• On Tuesday, January 13th, Bayview Legacy, Llc sold 2,116 shares of Arteris stock. The stock was sold at an average price of $17.79, for a total transaction of $37,643.64.
• On Thursday, January 8th, Bayview Legacy, Llc sold 50,000 shares of Arteris stock. The stock was sold at an average price of $16.58, for a total transaction of $829,000.00.

Arteris Trading Up 2.4%

Shares of AIP stock traded up $0.37 on Wednesday, hitting $15.62. The stock had a trading volume of 430,133 shares, compared to its average volume of 490,737. Arteris, Inc. has a twelve month low of $5.46 and a twelve month high of $19.85. The company has a fifty day moving average price of $15.84 and a two-hundred day moving average price of $14.00. The firm has a market cap of $710.24 million, a P/E ratio of -19.05 and a beta of 1.45.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. On average, analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Arteris

A number of large investors have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. acquired a new stake in shares of Arteris in the 2nd quarter valued at about $32,000. BNP Paribas Financial Markets lifted its holdings in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Arteris by 352.4% during the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $147,000 after buying an additional 7,400 shares during the period. Savant Capital LLC bought a new position in shares of Arteris during the second quarter worth about $97,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Arteris during the fourth quarter worth about $162,000. Institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

AIP has been the topic of several recent analyst reports. Rosenblatt Securities reiterated 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 Arteris in a research note on Friday, February 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.17.

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.