Key Points
- Bayview Legacy sold 50,000 Arteris shares on Jan. 8 at $16.58 for $829,000, part of a series of recent disposals (Dec. sales of 40k, 60k and 70k shares) that reduced its stake to 9,419,071 shares, a 0.53% decrease.
- Arteris trades near $17.37 with a market cap of about $758.7M; analysts have a consensus Moderate Buy and an average price target of $17.50, and the company recently slightly beat quarterly EPS estimates (‑$0.09 vs. ‑$0.11 expected).
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 Thursday, January 8th. The shares were sold at an average price of $16.58, for a total transaction of $829,000.00. Following the completion of the transaction, the insider owned 9,419,071 shares in the company, valued at approximately $156,168,197.18. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's stock 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 stock was sold at an average price of $17.71, for a total transaction of $1,239,700.00.
- On Friday, December 5th, Bayview Legacy, Llc sold 60,000 shares of Arteris stock. The stock was sold at an average price of $17.08, for a total transaction of $1,024,800.00.
- 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.
Arteris Trading Up 0.8%
Shares of NASDAQ AIP opened at $17.37 on Tuesday. The stock has a fifty day simple moving average of $15.50 and a two-hundred day simple moving average of $12.24. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85. The firm has a market cap of $758.72 million, a price-to-earnings ratio of -20.93 and a beta of 1.48.
Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The firm had revenue of $17.41 million for the quarter, compared to analysts' expectations of $17.00 million. Analysts forecast that Arteris, Inc. will post -0.73 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on AIP shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Arteris in a research note on Wednesday, October 8th. Jefferies Financial Group raised shares of Arteris to a "hold" rating in a report on Tuesday, October 28th. TD Cowen increased their target price on Arteris from $15.00 to $16.50 and gave the stock a "buy" rating in a research report on Wednesday, November 5th. Cowen reiterated a "buy" rating on shares of Arteris in a research report on Wednesday, November 5th. Finally, Wall Street Zen upgraded Arteris from a "sell" rating to a "hold" rating in a research note on Monday, September 15th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arteris currently has a consensus rating of "Moderate Buy" and an average price target of $17.50.
Get Our Latest Analysis on Arteris
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in AIP. Westerly Capital Management LLC raised its position in shares of Arteris by 109.6% in 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. Granahan Investment Management LLC increased its stake in Arteris by 725.7% in the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company's stock worth $6,278,000 after acquiring an additional 546,341 shares during the last quarter. Acadian Asset Management LLC increased its stake in Arteris by 40.6% in the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company's stock worth $6,222,000 after acquiring an additional 260,277 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Arteris in the 1st quarter valued at about $1,621,000. Finally, Roubaix Capital LLC bought a new stake in shares of Arteris during the 3rd quarter valued at about $2,361,000. 64.36% of the stock is currently owned by hedge funds and other institutional investors.
About Arteris
(
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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