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Moll Laurent R, the Chief Operating Officer of Arteris, Inc. (NASDAQ:AIP), recently sold a significant portion of the company's common stock. The sales come as the company's shares trade near their 52-week high of $12.39, having surged over 127% in the past year. According to a Form 4 filing with the Securities and Exchange Commission, Laurent completed several sales transactions on January 2 and January 3, 2025.
The transactions involved two separate batches of stock sales. The first batch, executed on January 2, consisted of 4,307 shares sold at an average price of $11.4133, totaling approximately $49,157. These sales were conducted to cover the reporting person's tax liabilities related to the release of restricted stock units.
The second batch, which occurred over January 2 and January 3, involved the sale of 35,524 shares. These transactions were made under a 10b5-1 trading plan adopted by Laurent on March 15, 2024. The shares were sold at prices ranging from $10.9501 to $12.08, generating a total of $408,161.
Following these transactions, Laurent's direct ownership in Arteris stands at 451,761 shares.
In other recent news, Arteris Inc. disclosed robust financial results in its third quarter 2024 earnings call. The company reported an impressive annual contract value plus royalties of $60.5 million and an 11% year-over-year revenue increase to $14.7 million. Additionally, a positive free cash flow of $1.1 million was achieved for the quarter. The GAAP gross margin stood at 90%, with an improved operating loss of $7.9 million. These recent developments were driven by a strong demand in the AI and automotive sectors.
In analyst notes, Arteris' expansion into the microcontroller market and the introduction of its new NoC Tiling product have generated positive feedback. A significant deal was also secured with one of the top five global tech companies. However, the non-GAAP metrics indicated a net loss of $3.1 million for the quarter. Looking ahead, the company forecasts a Q4 2024 ACV plus royalties between $63 million to $67 million and full-year revenue projections for 2024 between $56.9 million and $57.9 million.
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