Bayview Legacy, Llc Sells 50,000 Shares of Arteris, Inc. (NASDAQ:AIP) Stock

Key Points

• Bayview Legacy, LLC sold 50,000 shares of Arteris, Inc. stock for a total of $656,000, decreasing their ownership by 0.51% to approximately 9.84 million shares.
• Arteris, Inc. shares fell by 5.9%, closing at $9.31, with a market cap of around $390.83 million and a price-to-earnings ratio of -11.35.
• Recent analyst ratings for Arteris include upgrades, with TD Cowen raising the price target to $15.00 and maintaining a "buy" rating.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) major shareholder Bayview Legacy, Llc sold 50,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $13.12, for a total value of $656,000.00. Following the completion of the sale, the insider directly owned 9,839,071 shares of the company's stock, valued at approximately $129,088,611.52. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Arteris Stock Down 5.9%

Shares of Arteris stock traded down $0.58 during trading on Thursday, reaching $9.31. 2,288,956 shares of the stock were exchanged, compared to its average volume of 535,557. The firm has a market cap of $390.83 million, a price-to-earnings ratio of -11.35 and a beta of 1.45. Arteris, Inc. has a 1 year low of $5.46 and a 1 year high of $14.29. The stock's fifty day moving average is $9.09 and its 200 day moving average is $8.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Needham Investment Management LLC grew its position in shares of Arteris by 2.5% in the 1st quarter. Needham Investment Management LLC now owns 2,812,500 shares of the company's stock worth $19,434,000 after buying an additional 67,500 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Arteris by 9.6% in the second quarter. Acadian Asset Management LLC now owns 987,011 shares of the company's stock worth $9,403,000 after acquiring an additional 86,288 shares during the period. Next Century Growth Investors LLC boosted its holdings in Arteris by 46.4% in the first quarter. Next Century Growth Investors LLC now owns 407,721 shares of the company's stock valued at $2,817,000 after acquiring an additional 129,143 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Arteris by 97.2% in the first quarter. Federated Hermes Inc. now owns 327,119 shares of the company's stock valued at $2,260,000 after acquiring an additional 161,241 shares in the last quarter. Finally, Roubaix Capital LLC increased its position in Arteris by 33.2% during the 1st quarter. Roubaix Capital LLC now owns 281,450 shares of the company's stock valued at $1,945,000 after purchasing an additional 70,111 shares during the period. Institutional investors own 64.36% of the company's stock.

Analyst Ratings Changes

AIP has been the topic of a number of analyst reports. TD Cowen lifted their price target on Arteris from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday. Rosenblatt Securities restated a "buy" rating and issued a $14.00 target price on shares of Arteris in a report on Wednesday, May 21st.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.

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