Bayview Legacy, Llc Sells 73,894 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) major shareholder Bayview Legacy, Llc sold 73,894 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $30.00, for a total value of $2,216,820.00. Following the sale, the insider owned 8,355,177 shares of the company’s stock, valued at approximately $250,655,310. The trade was a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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, 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, July 6th, Bayview Legacy, Llc sold 125,976 shares of Arteris stock. The stock was sold at an average price of $35.79, for a total transaction of $4,508,681.04.
• On Thursday, July 2nd, Bayview Legacy, Llc sold 192,686 shares of Arteris stock. The shares were sold at an average price of $36.32, for a total transaction 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 transaction 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 Stock Performance

AIP traded down $1.16 on Wednesday, reaching $30.93. The company had a trading volume of 521,833 shares, compared to its average volume of 734,745. 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 1 year low of $8.42 and a 1 year high of $50.26. The stock has a market capitalization of $1.43 billion, a PE ratio of -39.15 and a beta of 1.96. The stock has a 50-day moving average price of $36.29 and a 200-day moving average price of $25.97.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data 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 firm had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. As a group, research analysts forecast that Arteris, Inc. will post -0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AIP has been the topic of a number of research reports. TD Cowen raised their target price on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Rosenblatt Securities increased their price target on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Oppenheimer started coverage on shares of Arteris in a research report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price objective on the stock. Northland Securities set a $38.00 price objective on shares of Arteris in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group upped their target price on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.50.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in 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 purchasing an additional 290 shares during the period. Raymond James Financial Inc. acquired a new position in Arteris during the 2nd quarter worth approximately $32,000. Royal Bank of Canada increased 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 purchasing an additional 3,161 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Arteris by 352.4% during 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 in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.