In a recent transaction, Saiyed Atiq Raza, a director at Arteris, Inc. (NASDAQ:AIP), sold a portion of his holdings in the semiconductor company. According to a filing with the Securities and Exchange Commission, Raza sold 2,776 shares of Arteris common stock on January 6, 2025. The shares were sold at a weighted average price of $12.3366, resulting in a total transaction value of $34,246. The sale comes as Arteris, with a market capitalization of $452 million, has demonstrated impressive performance with a 113% return over the past year and maintains strong gross profit margins of 89%.
These transactions were executed under a 10b5-1 trading plan, which Raza adopted on June 6, 2024. Following the sale, Raza holds 684,320 shares indirectly through the Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust, and 19,287 shares directly. The sales were carried out in multiple transactions with prices ranging from $12.19 to $12.56. According to InvestingPro, which offers comprehensive analysis and 12 additional exclusive tips for this stock, Arteris is currently trading above its Fair Value, near its 52-week high of $12.64.
In other recent news, Arteris Inc. has reported a strong third quarter, with a focus on AI and automotive SoC. The company announced a record annual contract value plus royalties of $60.5 million and a year-over-year revenue increase of 11% to $14.7 million. Furthermore, it achieved a positive free cash flow of $1.1 million for the quarter.
Arteris has also 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, and bookings for the third and fourth quarters are expected to be strong.
Looking ahead, Arteris forecasts Q4 2024 ACV plus royalties between $63 million and $67 million and full-year revenue projections for 2024 between $56.9 million and $57.9 million. Despite a non-GAAP net loss of $3.1 million for the quarter, the company anticipates continued positive free cash flow for three consecutive quarters. These recent developments underline the company's resilience and growth potential in the competitive tech landscape.
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