Bayview Legacy, Llc Sells 26,106 Shares of Arteris (NASDAQ:AIP) Stock

Key Points

• Bayview Legacy sold 26,106 Arteris shares at an average price of $31.97, generating $834,609. After the transaction, the major shareholder retained 8.33 million shares valued at approximately $266.3 million.
• Arteris shares fell to $30.93, while the company reported quarterly revenue of $22.94 million and an adjusted loss of $0.03 per share, beating analyst estimates on both measures.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $38.50 price target, although institutional investors own 64.36% of the stock and several funds have recently increased their positions.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) major shareholder Bayview Legacy, Llc sold 26,106 shares of Arteris stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.97, for a total value of $834,608.82. Following the transaction, the insider owned 8,329,071 shares of the company's stock, valued at approximately $266,280,399.87. This represents a 0.31% decrease in their ownership of the stock. The sale 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 stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, August 3rd, Bayview Legacy, Llc sold 73,894 shares of Arteris stock. The stock was sold at an average price of $30.00, for a total transaction of $2,216,820.00.
• On Monday, July 6th, Bayview Legacy, Llc sold 125,976 shares of Arteris stock. The shares were 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 stock was 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 Price Performance

Shares of NASDAQ:AIP traded down $1.16 during trading on Wednesday, reaching $30.93. 521,833 shares of the company's stock traded hands, compared to its average volume of 734,745. The firm has a market cap of $1.43 billion, a PE ratio of -39.15 and a beta of 1.96. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $36.29 and a 200-day simple moving average of $25.97.

Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. As a group, analysts predict that Arteris, Inc. will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Arteris

Several hedge funds and other institutional investors have recently modified their holdings of AIP. Needham Investment Management LLC boosted its position in Arteris by 2.6% during the fourth 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 last quarter. Franklin Resources Inc. grew its position in shares of Arteris by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company's stock valued at $27,017,000 after purchasing an additional 101,646 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company's stock valued at $16,103,000 after purchasing an additional 120,947 shares during the last quarter. Westerly Capital Management LLC lifted its position in Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company's stock worth $14,392,000 after buying an additional 745,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Arteris by 144.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company's stock worth $15,696,000 after buying an additional 598,840 shares during the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on AIP shares. Roth Capital began coverage on shares of Arteris in a research report on Tuesday. They issued a "buy" rating and a $40.00 target price on the stock. Oppenheimer initiated coverage on shares of Arteris in a research note on Thursday, July 16th. They issued an "outperform" rating and a $40.00 price target on the stock. Weiss Ratings cut Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Wall Street Zen lowered Arteris from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Northland Securities set a $38.00 target price on Arteris in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

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.

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