Bayview Legacy, Llc Sells 125,976 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 125,976 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $35.79, for a total value of $4,508,681.04. Following the sale, the insider directly owned 8,429,071 shares in the company, valued at approximately $301,676,451.09. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, July 2nd, Bayview Legacy, Llc sold 192,686 shares of Arteris stock. The stock was sold at an average price of $36.32, for a total value of $6,998,355.52.
• 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 value of $2,443,700.00.
• 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 transaction of $2,184,000.00.

Arteris Trading Up 4.8%

Shares of Arteris stock opened at $36.11 on Friday. The company has a quick ratio of 0.73, a current 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 company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -45.71 and a beta of 1.92. The firm’s 50-day moving average price is $36.99 and its two-hundred day moving average price is $24.06.

Arteris (NASDAQ:AIP) last issued its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. On average, analysts forecast that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AIP has been the topic of several recent analyst reports. Northland Securities set a $38.00 price target on Arteris in a research note on Wednesday, May 13th. TD Cowen boosted their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Jefferies Financial Group lifted their price target on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Finally, Rosenblatt Securities increased their price objective on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.75.

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, a partnership that could support future design wins and strengthen demand for its semiconductor IP in growth markets. Article Title
• Neutral Sentiment: Investor sentiment remains supported by Arteris’ recent earnings beat, with the company topping analyst expectations on both EPS and revenue in its last quarterly report, which may be helping confidence in the outlook.
• Negative Sentiment: Several insiders sold shares this week, including CEO K. Charles Janac, VP Paul L. Alpern, and major shareholder Bayview Legacy, LLC. While insider sales do not necessarily indicate operational weakness, they can weigh on the stock because investors may view them as profit-taking after recent share-price strength.

Hedge Funds Weigh In On Arteris

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in shares of Arteris by 33.7% during the 2nd 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. Raymond James Financial Inc. purchased a new position in shares of Arteris during the second quarter valued at approximately $32,000. Royal Bank of Canada boosted its holdings 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 acquiring an additional 3,161 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Arteris by 75.0% during the third 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 during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Arteris by 352.4% in the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $147,000 after buying an additional 7,400 shares during the last quarter. Institutional investors own 64.36% of the company’s stock.

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.