Arteris, Inc. (NASDAQ:AIP – Get Free Report) major shareholder Bayview Legacy, Llc sold 73,894 shares of the stock in a transaction 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 completion of the transaction, the insider owned 8,355,177 shares of the company’s stock, valued at $250,655,310. The trade was a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 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 value of $2,184,000.00.
Arteris Price Performance
NASDAQ AIP traded down $1.16 during mid-day trading on Wednesday, hitting $30.93. The stock had a trading volume of 521,833 shares, compared to its average volume of 734,745. The company has a 50 day simple moving average of $36.29 and a 200 day simple moving average of $25.97. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96. Arteris, Inc. has a 52-week low of $8.42 and a 52-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.
Wall Street Analysts Forecast Growth
AIP has been the topic of a number of research reports. Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Jefferies Financial Group upped their price target on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Rosenblatt Securities lifted their price objective on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Oppenheimer began coverage on Arteris in a research note on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.50.
Get Our Latest Stock Report on Arteris
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIP. Versant Capital Management Inc boosted its stake in shares of Arteris by 33.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Arteris during the second quarter valued at approximately $32,000. Royal Bank of Canada lifted its stake in shares of Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after buying an additional 3,161 shares during the period. BNP Paribas Financial Markets boosted its position in Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after acquiring an additional 2,595 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Arteris by 352.4% during the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $147,000 after acquiring an additional 7,400 shares during the last quarter. 64.36% of the stock is currently owned by hedge funds and other institutional investors.
About Arteris
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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