Crispr Therapeutics shares tumble after significant earnings miss
Paul L. Alpern, Vice President and General Counsel of Arteris , Inc. (NASDAQ:AIP), a technology company with impressive gross profit margins of nearly 90% and a market capitalization of $340M, recently sold 276 shares of the company’s common stock. The shares were sold at an average price of $8.3833 per share, totaling approximately $2,313. Following this transaction, Alpern retains ownership of 90,610 shares. The sale was conducted to cover tax liabilities arising from the release of restricted stock units. According to InvestingPro analysis, the stock has taken a significant hit, dropping over 10% in the past week, though the company maintains a strong balance sheet with more cash than debt. For deeper insights and additional ProTips about Arteris, including its comprehensive Pro Research Report, visit InvestingPro.
In other recent news, Arteris, Inc. has been the focus of analyst attention following its latest financial and strategic developments. Northland analysts raised their price target for Arteris to $16, maintaining an Outperform rating, highlighting the company’s revenue meeting expectations and strong bookings of approximately $33.6 million. The introduction of the FlexGen product, which offers a 30% average selling price uplift, has been a significant factor in this revised target, with 13 customers currently evaluating the product. Jefferies also adjusted its price target for Arteris, increasing it to $11 while keeping a Hold rating, citing recent progress in the microcontroller unit market and the potential impact of the FlexGen solution.
Both analyst firms pointed to the potential for growth and improved financial performance due to Arteris’ strategic moves and product introductions. Jefferies remains cautious, however, awaiting more evidence of improved execution before considering a more optimistic stance. Meanwhile, Northland’s confidence in Arteris’ market position and potential revenue growth from FlexGen has been reflected in their upgraded price target. These recent developments suggest a strategic shift for Arteris, with opportunities for growth and a faster path to profitability.
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