Arteris (NASDAQ:AIP) Major Shareholder Bayview Legacy, Llc Sells 60,000 Shares

by · The Cerbat Gem

Arteris, Inc. (NASDAQ:AIP – Get Free Report) major shareholder Bayview Legacy, Llc sold 60,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $17.08, for a total transaction of $1,024,800.00. Following the transaction, the insider owned 9,539,071 shares of the company’s stock, valued at $162,927,332.68. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 Monday, December 8th, Bayview Legacy, Llc sold 70,000 shares of Arteris stock. The shares were sold at an average price of $17.71, for a total transaction of $1,239,700.00.
  • On Thursday, December 4th, Bayview Legacy, Llc sold 40,000 shares of Arteris stock. The shares were sold at an average price of $16.46, for a total value of $658,400.00.
  • On Wednesday, October 8th, Bayview Legacy, Llc sold 50,000 shares of Arteris stock. The stock was sold at an average price of $13.07, for a total value of $653,500.00.
  • On Monday, October 6th, Bayview Legacy, Llc sold 100,000 shares of Arteris stock. The shares were sold at an average price of $13.10, for a total transaction of $1,310,000.00.

Arteris Trading Up 5.6%

AIP traded up $1.01 during trading on Tuesday, reaching $19.19. The stock had a trading volume of 1,112,895 shares, compared to its average volume of 590,407. The stock’s 50 day moving average is $13.75 and its two-hundred day moving average is $10.77. The company has a market capitalization of $838.22 million, a price-to-earnings ratio of -23.12 and a beta of 1.48. Arteris, Inc. has a one year low of $5.46 and a one year high of $19.30.

Arteris (NASDAQ:AIP – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. Arteris had a negative return on equity of 8,546.17% and a negative net margin of 52.25%.The company had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. On average, equities research analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Arteris

A number of institutional investors and hedge funds have recently modified their holdings of AIP. Penn Capital Management Company LLC acquired a new position in Arteris during the third quarter valued at $109,000. Worth Venture Partners LLC raised its stake in shares of Arteris by 24.2% during the 3rd quarter. Worth Venture Partners LLC now owns 58,731 shares of the company’s stock worth $593,000 after buying an additional 11,446 shares during the period. Westerly Capital Management LLC raised 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 acquiring an additional 745,000 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Arteris in the 3rd quarter valued at about $113,000. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Arteris by 12.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after acquiring an additional 2,613 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

AIP has been the subject of several recent research reports. Wall Street Zen raised Arteris from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Rosenblatt Securities lifted their target price on Arteris from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Cowen reiterated a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Jefferies Financial Group raised Arteris to a “hold” rating in a research report on Tuesday, October 28th. Finally, TD Cowen raised their price objective on shares of Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Arteris currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Check Out Our Latest Research Report on Arteris

Arteris Company Profile

(Get Free Report)

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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