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 Arteris stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $19.04, for a total transaction of $1,332,800.00. Following the sale, the insider directly owned 9,119,071 shares of the company’s stock, valued at $173,627,111.84. This trade represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more 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 Tuesday, March 10th, Bayview Legacy, Llc sold 9,000 shares of Arteris stock. The shares were sold at an average price of $14.66, for a total transaction of $131,940.00.
• On Monday, March 9th, Bayview Legacy, Llc sold 41,000 shares of Arteris stock. The shares were 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 shares were 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 shares were sold at an average price of $17.79, for a total transaction of $37,643.64.

Arteris Trading Down 1.1%

AIP stock opened at $19.34 on Friday. Arteris, Inc. has a 1 year low of $5.64 and a 1 year high of $19.93. The company has a fifty day simple moving average of $15.94 and a 200 day simple moving average of $15.14. The firm has a market cap of $879.39 million, a PE ratio of -23.59 and a beta of 1.43.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AIP. Wall Street Zen raised shares of Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 13th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Needham Investment Management LLC raised its holdings in Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after acquiring an additional 86,500 shares during the period. Franklin Resources Inc. raised its holdings in Arteris by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock worth $27,017,000 after acquiring an additional 101,646 shares during the period. Vanguard Group Inc. raised its holdings in Arteris by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after acquiring an additional 120,947 shares during the period. Westerly Capital Management LLC raised its holdings in Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after acquiring an additional 745,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Arteris by 144.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after acquiring an additional 598,840 shares during the period. Institutional investors 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.