In a recent transaction filed with the Securities and Exchange Commission, Moll Laurent R, Chief Operating Officer of Arteris, Inc. (NASDAQ:AIP), sold 1,161 shares of the company’s common stock. The shares were sold at an average price of $12.52 per share, amounting to a total transaction value of $14,535. According to InvestingPro data, AIP’s stock has shown remarkable strength with a 113% return over the past year, trading near its 52-week high of $12.64. Following this sale, Laurent holds 450,600 shares in the company. The transaction was executed under a 10b5-1 trading plan, which was adopted on March 15, 2024. The $452M market cap company maintains impressive gross profit margins of 89%, though InvestingPro analysis suggests the stock is currently overvalued. For deeper insights into insider trading patterns and 12 additional ProTips, consider exploring the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Arteris Inc. reported a robust Q3 performance in their earnings call, highlighting a record annual contract value (ACV) plus royalties of $60.5 million. The company’s revenue saw an 11% year-over-year increase, reaching $14.7 million, and a positive free cash flow of $1.1 million was reported for the quarter ending September 2024. Arteris also reported a GAAP gross margin of 90% and an improved operating loss of $7.9 million.
These recent developments have been influenced by strong demand in the AI and automotive sectors, which have bolstered Arteris’s bookings and spurred new product innovations. The company secured a significant deal with one of the top five global tech companies and has received positive feedback for its new NoC Tiling product. Despite a non-GAAP net loss of $3.1 million for the quarter, Arteris is expanding into the microcontroller market.
Looking ahead, the company forecasts Q4 2024 ACV plus royalties to be between $63 million to $67 million. Full-year revenue projections for 2024 are estimated between $56.9 million and $57.9 million. With strong bookings for Q3 and Q4, Arteris 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.