In a recent filing with the Securities and Exchange Commission, Arteris, Inc. (NASDAQ:AIP), a $370 million market cap company, disclosed that Isabelle F. Geday, a director of the company, sold 15,550 shares of common stock. The transaction, completed on December 4, 2024, was executed under a prearranged 10b5-1 trading plan adopted earlier in the year. The stock has shown remarkable strength, gaining over 67% in the past year. The shares were sold at a weighted average price of $9.0325 per share, resulting in a total transaction value of approximately $140,455. Following this sale, Geday retains ownership of 121,213 shares of Arteris stock. According to InvestingPro analysis, the stock is trading near its 52-week high of $9.54, with impressive gross profit margins of 89%. For deeper insights into insider trading patterns and comprehensive financial analysis, including 10+ additional ProTips, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Arteris Inc. showcased a strong third quarter performance, underpinned by a focus on AI and automotive SoC. The company reported a record annual contract value plus royalties of $60.5 million, and a year-over-year revenue increase of 11% to $14.7 million. The quarter ended with a positive free cash flow of $1.1 million. Arteris also secured a significant deal with one of the top five global tech companies and received positive feedback on its new NoC Tiling product. In terms of future expectations, the company forecasts 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. These recent developments reflect the company's resilience and growth potential in the AI and automotive sectors.
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