Paul L. Alpern, Vice President and General Counsel of Arteris, Inc. (NASDAQ:AIP), has recently sold shares of the company's common stock. According to a recent SEC filing, Alpern sold 3,326 shares on January 6, 2025. The shares were sold at a weighted average price of $12.3484, amounting to a total transaction value of approximately $41,070. The transaction comes as Arteris stock has shown remarkable strength, delivering a 113% return over the past year, with the company maintaining impressive gross profit margins of 89%.
The sale was conducted under a 10b5-1 trading plan, which Alpern adopted on May 8, 2024. Following this transaction, Alpern holds 61,604 shares of Arteris stock. The shares were sold in multiple transactions at prices ranging from $12.18 to $12.60. According to InvestingPro analysis, Arteris currently appears overvalued based on its Fair Value calculation. Investors can access 12 additional key insights and a comprehensive Pro Research Report covering Arteris's financial health and growth prospects through InvestingPro's extensive analysis tools.
In other recent news, Arteris Inc. disclosed strong financial performance in its Q3 2024 earnings call. 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. Arteris also generated a positive free cash flow of $1.1 million for the quarter ending September 30, 2024. These robust results were driven by high demand in the AI and automotive sectors.
In addition to this, Arteris has secured a significant deal with one of the top five global tech companies and is expanding into the microcontroller market. The company has received positive feedback on its new NoC Tiling product. Looking ahead, Arteris expects strong bookings for Q3 and Q4, with the latter typically being the peak quarter.
These recent developments reflect the company's resilience and growth, with a focus on AI and automotive SoC solutions, strategic partnerships, and product innovations. The company's future outlook includes a Q4 2024 ACV plus royalties forecast of $63 million to $67 million and full-year revenue projections for 2024 between $56.9 million and $57.9 million.
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