Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 17,884 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 17,884 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $17.84, for a total value of $319,050.56. Following the completion of the transaction, the insider owned 9,399,071 shares in the company, valued at approximately $167,679,426.64. The trade was a 0.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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, 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 value 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 value of $829,000.00.
• On Monday, December 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $17.71, for a total value of $1,239,700.00.
• On Friday, December 5th, Bayview Legacy, Llc sold 60,000 shares of Arteris stock. The shares were sold at an average price of $17.08, for a total transaction of $1,024,800.00.
• On Thursday, December 4th, Bayview Legacy, Llc sold 40,000 shares of Arteris stock. The stock was sold at an average price of $16.46, for a total transaction of $658,400.00.

Arteris Trading Down 4.7%

Arteris stock opened at $16.74 on Wednesday. The firm has a market capitalization of $731.20 million, a price-to-earnings ratio of -20.17 and a beta of 1.48. The firm’s fifty day moving average price is $15.82 and its two-hundred day moving average price is $12.58. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. On average, research analysts forecast that Arteris, Inc. will post -0.73 EPS for the current year.

Institutional Investors Weigh In On Arteris

Several large investors have recently modified their holdings of AIP. Acuitas Investments LLC bought a new position in Arteris during the second quarter valued at $858,000. Worth Venture Partners LLC purchased a new position in shares of Arteris during the 2nd quarter valued at $451,000. Franklin Resources Inc. grew its stake in shares of Arteris by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock worth $15,602,000 after acquiring an additional 142,936 shares during the period. Squarepoint Ops LLC increased its holdings in Arteris by 143.8% in the 2nd quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock worth $1,153,000 after acquiring an additional 71,340 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Arteris in the 2nd quarter worth about $254,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

AIP has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Arteris to a “hold” rating in a report on Tuesday, October 28th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Arteris in a report on Monday, December 15th. Cowen reaffirmed a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Finally, TD Cowen lifted their target price on shares of Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Arteris has an average rating of “Moderate Buy” and a consensus price target of $17.50.

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.