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Arteris CFO Hawkins sells $113,621 in common stock

Published 05/02/2025, 23:38
Arteris CFO Hawkins sells $113,621 in common stock
AIP
-8.22%

Nicholas B. Hawkins (NASDAQ:HWKN), Vice President and Chief Financial Officer of Arteris , Inc. (NASDAQ:AIP), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Hawkins sold 11,000 shares of common stock on February 3, 2025. The timing is notable as the stock has seen a 12% decline over the past week, though it maintains a strong 35% gain over the past six months, according to InvestingPro data. The shares were sold at a weighted average price of $10.3292, resulting in a total transaction value of approximately $113,621.

This sale was conducted under a 10b5-1 trading plan, which Hawkins adopted on May 20, 2024. Following the transaction, Hawkins retains ownership of 154,308 shares in Arteris. The shares were sold at prices ranging from $10.06 to $10.44.

In other recent news, Arteris Inc. has reported strong Q3 results, with a focus on AI-driven enterprise computing and automotive SoC solutions. The company announced a record annual contract value (ACV) plus royalties of $60.5 million, a year-over-year revenue increase of 11% to $14.7 million, and a positive free cash flow of $1.1 million for the quarter ending in September 2024. These developments are driven by robust demand in the AI and automotive sectors.

Arteris also secured a significant deal with one of the top five global tech companies and is expanding into the microcontroller market. The company received positive feedback on its new NoC Tiling product and expects strong bookings for Q3 and Q4.

Looking ahead, Arteris forecasts Q4 2024 ACV plus royalties to be between $63 million and $67 million, and full-year revenue projections for 2024 are estimated between $56.9 million and $57.9 million. Despite a non-GAAP net loss of $3.1 million for the quarter, the company anticipates continued positive free cash flow for three consecutive quarters.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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