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

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 100,000 shares of Arteris stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $23.82, for a total transaction of $2,382,000.00. Following the sale, the insider owned 8,129,071 shares in the company, valued at $193,634,471.22. This represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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 Tuesday, September 1st, Bayview Legacy, Llc sold 100,000 shares of Arteris stock. The shares were sold at an average price of $20.75, for a total transaction of $2,075,000.00.
• 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 shares were sold at an average price of $30.00, for a total transaction of $2,216,820.00.

Arteris Price Performance

NASDAQ AIP traded down $0.69 on Monday, reaching $23.97. The company’s stock had a trading volume of 784,618 shares, compared to its average volume of 730,172. The firm has a market cap of $1.18 billion, a PE ratio of -27.55 and a beta of 1.90. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Arteris, Inc. has a 52 week low of $12.06 and a 52 week high of $50.26. The business has a 50-day moving average price of $24.86 and a 200 day moving average price of $28.55.

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

Analysts Set New Price Targets

AIP has been the topic of several recent analyst reports. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $38.00 target price on shares of Arteris in a research note on Friday, August 7th. Oppenheimer started coverage on shares of Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price on the stock. Craig Hallum began coverage on shares of Arteris in a research report on Monday, September 21st. They set a “buy” rating and a $30.00 target price for the company. Finally, Roth Capital began coverage on shares of Arteris in a report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.43.

Hedge Funds Weigh In On Arteris

A number of institutional investors and hedge funds have recently bought and sold shares of AIP. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Arteris during the second quarter worth $53,000. Versant Capital Management Inc raised its holdings in shares of Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after buying an additional 290 shares during the last quarter. Royal Bank of Canada lifted its position in Arteris by 366.7% during the 1st 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 in the last quarter. Allworth Financial LP bought a new stake in Arteris during the 2nd quarter worth about $87,000. Finally, State of Wyoming bought a new stake in Arteris during the 2nd quarter worth about $165,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

About Arteris

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.