Nicholas B. Hawkins (NASDAQ:HWKN), Vice President and Chief Financial Officer of Arteris, Inc. (NASDAQ:AIP), recently sold 4,560 shares of the company's common stock. The shares were sold at a weighted average price of $12.34, with individual transaction prices ranging from $12.19 to $12.56, near the stock's 52-week high of $12.64. The total value of the transaction amounted to $56,267. The sale comes as the stock has delivered an impressive 113% return over the past year, according to InvestingPro data. Following the sale, Hawkins retains ownership of 165,308 shares in the semiconductor company, which currently has a market capitalization of $452 million and maintains impressive gross profit margins of 89%. This transaction was executed as part of a pre-established 10b5-1 trading plan adopted in May 2024. For deeper insights into Arteris's financial health and valuation metrics, including 12 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Arteris Inc. has reported strong Q3 results, with a focus on AI and automotive system-on-chip (SoC) solutions. The company revealed a record annual contract value (ACV) plus royalties of $60.5 million, an 11% year-over-year revenue increase to $14.7 million, and a positive free cash flow of $1.1 million for the quarter ending September 2024. Arteris also highlighted a GAAP gross margin of 90% and a reduced operating loss of $7.9 million.
Furthermore, Arteris has secured a significant deal with one of the top five global tech companies and is expanding into the microcontroller market. The company's new NoC Tiling product has received positive feedback. Analysts project a strong Q4, with ACV plus royalties forecasted at $63 million to $67 million.
Despite a non-GAAP net loss of $3.1 million for the quarter, Arteris remains optimistic about its future. The company anticipates continued positive free cash flow for three consecutive quarters and full-year revenue projections for 2024 between $56.9 million and $57.9 million. These are recent developments that highlight the company's resilience and growth in the competitive tech landscape.
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