Antonio J. Viana, a director at Arteris, Inc. (NASDAQ:AIP), disclosed the sale of 2,781 shares of the company's common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $6.8377, resulting in a total transaction value of $19,015. This transaction was executed under a 10b5-1 trading plan that Viana adopted in November 2023. Following this sale, Viana holds 198,750 shares indirectly through the Viana Family Trust and maintains direct ownership of 24,359 shares.
In other recent news, Arteris, Inc. has reported a robust Q2 performance, recording an annual contract value plus royalties of $60.1 million and total revenue for the quarter of $14.6 million. This success is attributed to the addition of seven new customers, four new license deals with existing clients, and 21 confirmed design starts in the AI-enabled autonomous driving sector. Furthermore, the company announced the appointment of Joachim Kunkel to its Board of Directors. Kunkel, who has recently served as General Manager of the IP business unit at Synopsys (NASDAQ:SNPS), brings over three decades of experience to Arteris.
Looking ahead, Arteris expects its Q3 annual contract value plus royalties to range between $58.5 million and $62.5 million, with revenues projected at $14.2 million to $15.2 million. For the full year of 2024, the company's guidance includes an annual contract value plus royalties of $62 million to $68 million and revenue of $56 million to $58 million. These recent developments indicate ongoing growth for Arteris, Inc. in the semiconductor industry.
InvestingPro Insights
While Antonio J. Viana's recent stock sale provides insight into insider activity at Arteris, Inc. (NASDAQ:AIP), a deeper look at the company's financials reveals some interesting points. According to InvestingPro data, Arteris boasts a market capitalization of $270.09 million, with a revenue of $53.3 million over the last twelve months as of Q2 2024.
One of the standout metrics is the company's impressive gross profit margin of 89.39% for the same period, which aligns with an InvestingPro Tip highlighting Arteris's "impressive gross profit margins." This suggests that despite recent insider selling, the company maintains strong pricing power and efficiency in its core operations.
However, investors should note that Arteris is currently not profitable, with a negative operating income of $34.28 million over the last twelve months. This is reflected in the company's P/E ratio of -6.93, indicating that the company is currently operating at a loss. An InvestingPro Tip also points out that analysts do not anticipate the company to be profitable this year.
On a positive note, another InvestingPro Tip reveals that 4 analysts have revised their earnings upwards for the upcoming period, which could signal improving expectations for the company's financial performance.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights beyond what's mentioned here. In fact, there are 7 more InvestingPro Tips available for Arteris, providing a deeper understanding of the company's financial health and market position.
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