Insider Selling: Arteris (NASDAQ:AIP) Major Shareholder Sells $6,998,355.52 in Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 192,686 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the transaction, the insider owned 8,555,047 shares in the company, valued at $310,719,307.04. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Bayview Legacy, Llc also recently made the following trade(s):

• On Monday, July 6th, Bayview Legacy, Llc sold 125,976 shares of Arteris stock. The stock was sold at an average price of $35.79, for a total transaction of $4,508,681.04.
• 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 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.
• On Wednesday, April 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The shares were sold at an average price of $19.04, for a total transaction of $1,332,800.00.

Arteris Trading Up 10.0%

Shares of AIP stock opened at $34.46 on Thursday. 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, Inc. has a 12-month low of $8.42 and a 12-month high of $50.26. The stock has a market capitalization of $1.59 billion, a P/E ratio of -43.62 and a beta of 1.92. The firm’s 50 day moving average is $36.78 and its 200 day moving average is $23.92.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating 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. Research analysts expect that Arteris, Inc. will post -0.54 earnings per share for the current year.

Trending Headlines about Arteris

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Arteris announced a collaboration with IC-Link by imec to accelerate next-generation AI and high-performance computing silicon, which could support future design wins and reinforce demand for its semiconductor IP in fast-growing end markets. Article Title
• Neutral Sentiment: The company continues to benefit from a generally constructive analyst backdrop after its last earnings report beat expectations on both EPS and revenue, which may be helping investor confidence in the stock’s outlook.
• Negative Sentiment: Several insiders, including CEO K. Charles Janac, VP Paul L. Alpern, and major shareholder Bayview Legacy, LLC, sold shares this week. While insider selling does not necessarily signal a business problem, the timing can pressure sentiment because it may suggest executives and owners view the recent share price strength as a good opportunity to take profits.

Institutional Investors Weigh In On Arteris

Several hedge funds and other institutional investors have recently modified their holdings of AIP. Raymond James Financial Inc. purchased a new position in Arteris during the second quarter valued at $32,000. Versant Capital Management Inc increased its position in Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after buying an additional 290 shares in the last quarter. BNP Paribas Financial Markets increased its position in Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after buying an additional 3,161 shares during the period. Finally, Strs Ohio bought a new position in shares of Arteris in the first quarter worth about $104,000. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AIP has been the topic of a number of recent research reports. Northland Securities set a $38.00 target price on Arteris in a report on Wednesday, May 13th. TD Cowen boosted their price target on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Jefferies Financial Group upped their price target on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities raised their price objective on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.75.

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.