Stock market today: S&P 500 rides Apple-led tech rally to close higher
These sales were made through Bayview Legacy, LLC, where Charles holds voting and dispositive power. Following these transactions, Charles maintains ownership of 10,078,800 shares indirectly through Bayview Legacy, LLC, and holds additional shares in other capacities. The transactions were carried out under a pre-established 10b5-1 trading plan adopted earlier this year. With a market capitalization of $413 million, Arteris is currently trading above its InvestingPro Fair Value, which subscribers can access along with 11 additional ProTips and comprehensive financial analysis. With a market capitalization of $413 million, Arteris is currently trading above its InvestingPro Fair Value, which subscribers can access along with 11 additional ProTips and comprehensive financial analysis. These sales were made through Bayview Legacy, LLC, where Charles holds voting and dispositive power.
Following these transactions, Charles maintains ownership of 10,078,800 shares indirectly through Bayview Legacy, LLC, and holds additional shares in other capacities. The transactions were carried out under a pre-established 10b5-1 trading plan adopted earlier this year.
In other recent news, Arteris, Inc. reported a strong third quarter in its 2024 earnings call. The company announced a record annual contract value (ACV) plus royalties of $60.5 million, an 11% year-over-year revenue increase to $14.7 million, and a positive free cash flow of $1.1 million. Arteris also reported a GAAP gross margin of 90% and a non-GAAP net loss of $3.1 million for the quarter.
These developments come as Arteris expands its presence in the microcontroller market and sees strong demand in AI-driven enterprise computing and automotive SoC solutions. The company has also secured a significant deal with one of the top five global tech companies.
Looking ahead, Arteris anticipates strong bookings for the fourth quarter and expects continued positive free cash flow. The company projects full-year revenue for 2024 to be between $56.9 million and $57.9 million, with a non-GAAP operating loss estimated between $17.1 million and $16.1 million. These recent developments underscore Arteris's robust financial performance and optimism for the future.
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