Figma Shares Indicated To Open $105/$110
Raza Saiyed Atiq, a director at Arteris, Inc. (NASDAQ:AIP), sold shares worth $271,842 over two consecutive days, according to a recent SEC filing. The transactions, executed on December 17 and 18, were conducted under a pre-arranged 10b5-1 trading plan. The timing is notable as InvestingPro data shows AIP's stock has declined nearly 8% over the past week, though it maintains an impressive 58.57% gain year-to-date. The shares were sold at prices ranging from $10.0068 to $10.0749 per share. Following these transactions, Raza holds 731,560 shares indirectly through the Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust. The $375 million market cap company boasts remarkable gross profit margins of 89%. For deeper insights into Arteris's financials and 10+ additional ProTips, check out the comprehensive research available on InvestingPro.
In other recent news, Arteris Inc. reported a robust Q3 performance during its earnings call. The company recorded an annual contract value (ACV) plus royalties of $60.5 million, marking a record for the firm. Revenues also saw an 11% year-over-year increase, reaching $14.7 million, and the company reported a positive free cash flow of $1.1 million for the quarter ending September 2024.
These recent developments reflect strong demand in the AI and automotive sectors, contributing to Arteris' optimistic outlook. The company also secured a significant deal with one of the top five global tech companies, further enhancing its position.
Analysts from the earnings call anticipate continued positive free cash flow for three consecutive quarters. They project 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.
Arteris is also expanding into the microcontroller market and has received positive feedback on its new NoC Tiling product. Despite the non-GAAP net loss of $3.1 million for the quarter, the company's focus on AI-driven enterprise computing and automotive SoC solutions, coupled with new partnerships and product innovations, indicate a positive trajectory for the firm.
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