Bayview Legacy, Llc Sells 70,000 Shares of Arteris (NASDAQ:AIP) Stock

Key Points

• Bayview Legacy, LLC sold 70,000 shares of Arteris on April 8 at an average price of $19.04 for proceeds of $1,332,800, executed under a pre‑arranged Rule 10b5‑1 plan and reducing its stake by 0.76% to 9,119,071 shares.
• Arteris shares traded around $19.56 (near a 1‑year high of $19.85) with a market cap of roughly $889M; the company beat the latest quarterly revenue and EPS estimates (EPS -$0.05 vs. -$0.08; revenue $20.14M) but remains unprofitable, and analysts maintain a consensus “Hold” with an average price target of $20.17.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) major shareholder Bayview Legacy, Llc sold 70,000 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $19.04, for a total value of $1,332,800.00. Following the transaction, the insider owned 9,119,071 shares in the company, valued at $173,627,111.84. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Tuesday, March 10th, Bayview Legacy, Llc sold 9,000 shares of Arteris stock. The shares were sold at an average price of $14.66, for a total value of $131,940.00.
• On Monday, March 9th, Bayview Legacy, Llc sold 41,000 shares of Arteris stock. The shares were sold at an average price of $14.21, for a total value of $582,610.00.
• On Tuesday, February 10th, Bayview Legacy, Llc sold 2,756 shares of Arteris stock. The shares were sold at an average price of $15.03, for a total value of $41,422.68.
• On Monday, February 9th, Bayview Legacy, Llc sold 47,244 shares of Arteris stock. The shares were sold at an average price of $15.21, for a total value of $718,581.24.
• On Thursday, January 15th, Bayview Legacy, Llc sold 17,884 shares of Arteris stock. The shares were sold at an average price of $17.84, for a total value of $319,050.56.
• On Tuesday, January 13th, Bayview Legacy, Llc sold 2,116 shares of Arteris stock. The stock was sold at an average price of $17.79, for a total value of $37,643.64.

Arteris Stock Performance

Shares of Arteris stock traded up $0.53 during trading hours on Thursday, reaching $19.56. 490,322 shares of the company were exchanged, compared to its average volume of 475,683. Arteris, Inc. has a 1 year low of $5.64 and a 1 year high of $19.85. The stock's fifty day moving average is $15.77 and its 200 day moving average is $15.04. The firm has a market cap of $889.39 million, a PE ratio of -23.85 and a beta of 1.43.

Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The company had revenue of $20.14 million for the quarter, compared to analysts' expectations of $18.55 million. Research analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AIP has been the topic of several recent analyst reports. Wall Street Zen raised Arteris from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Arteris in a report on Wednesday, January 21st. Rosenblatt Securities reissued a "buy" rating and set a $20.00 price target on shares of Arteris in a report on Friday, February 13th. Finally, Northland Securities set a $24.00 price objective on shares of Arteris in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Arteris presently has a consensus rating of "Hold" and an average price target of $20.17.

Institutional Investors Weigh In On Arteris

A number of large investors have recently bought and sold shares of the stock. Westerly Capital Management LLC increased 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. Nuveen LLC raised its holdings in Arteris by 872.3% in the 4th quarter. Nuveen LLC now owns 737,281 shares of the company's stock valued at $11,428,000 after acquiring an additional 661,454 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Arteris by 144.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company's stock valued at $15,696,000 after acquiring an additional 598,840 shares during the last quarter. Granahan Investment Management LLC raised its holdings in Arteris by 725.7% in the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company's stock valued at $6,278,000 after acquiring an additional 546,341 shares during the last quarter. Finally, Informed Momentum Co LLC acquired a new position in Arteris in the 4th quarter valued at $5,755,000. Institutional investors and hedge funds 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.

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