Insider Selling: Arteris (NASDAQ:AIP) Major Shareholder Sells $2,075,000.00 in Stock

by · The Markets Daily

Arteris, Inc. (NASDAQ:AIP – Get Free Report) major shareholder Bayview Legacy, Llc sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total transaction of $2,075,000.00. Following the sale, the insider directly owned 8,229,071 shares of the company’s stock, valued at $170,753,223.25. This represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 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 Tuesday, August 4th, Bayview Legacy, Llc sold 26,106 shares of Arteris stock. The shares were sold at an average price of $31.97, for a total transaction of $834,608.82.
  • On Monday, August 3rd, Bayview Legacy, Llc sold 73,894 shares of Arteris stock. The shares were 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 stock was sold at an average price of $34.91, for a total transaction of $2,443,700.00.

Arteris Stock Performance

Shares of NASDAQ:AIP opened at $21.37 on Friday. The company’s 50 day simple moving average is $29.78 and its 200 day simple moving average is $27.41. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -24.56 and a beta of 1.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26.

Arteris (NASDAQ:AIP – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $24.13 million for the quarter, compared to the consensus estimate of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. As a group, research analysts predict that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on AIP. TD Cowen lifted their target price on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Oppenheimer began 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 upgraded shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Roth Capital began coverage on shares of Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Northland Securities set a $38.00 target price on shares of Arteris in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Check Out Our Latest Stock Analysis on Arteris

Hedge Funds Weigh In On Arteris

Hedge funds and other institutional investors have recently bought and sold shares of the company. Needham Investment Management LLC raised its position in shares of Arteris by 2.6% in the 4th 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 in the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Arteris in the 4th quarter valued at about $1,914,000. Sei Investments Co. boosted its position in shares of Arteris by 43.1% during the 1st quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock valued at $2,799,000 after purchasing an additional 51,279 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Arteris during the 1st quarter valued at about $2,124,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Arteris during the second quarter worth approximately $7,381,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Company Profile

(Get Free Report)

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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