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 the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00. Following the sale, the insider owned 8,929,071 shares of the company’s stock, valued at approximately $311,713,868.61. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 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 Friday, May 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The stock was sold at an average price of $31.20, for a total value 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 value of $1,332,800.00.

Arteris Trading Up 11.3%

NASDAQ AIP opened at $37.31 on Friday. The firm has a market cap of $1.72 billion, a PE ratio of -47.23 and a beta of 1.98. Arteris, Inc. has a 1-year low of $7.92 and a 1-year high of $38.99. The stock has a 50-day moving average of $29.17 and a 200-day moving average of $20.56. 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 (NASDAQ:AIP) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. As a group, sell-side analysts forecast that Arteris, Inc. will post -0.54 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on AIP shares. Jefferies Financial Group lifted their target price on shares of Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Northland Securities set a $38.00 price target on shares of Arteris in a research report on Wednesday, May 13th. TD Cowen raised their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Rosenblatt Securities boosted their price objective on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note 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 stock. According to MarketBeat.com, Arteris presently has an average rating of “Hold” and a consensus price target of $37.75.

Institutional Trading of Arteris

Several large investors have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. purchased a new position in Arteris during the 2nd quarter valued at $32,000. BNP Paribas Financial Markets raised its holdings in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after purchasing an additional 3,161 shares during the period. Strs Ohio purchased a new stake in shares of Arteris in the 1st quarter worth about $104,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Arteris during the 3rd quarter valued at about $109,000. 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.