Arteris (NASDAQ:AIP – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07), Zacks reports. The company had revenue of $14.58 million for the quarter, compared to analyst estimates of $13.68 million. Arteris had a negative return on equity of 229.27% and a negative net margin of 68.37%. During the same period in the previous year, the business posted ($0.25) earnings per share. Arteris updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.
Arteris Trading Down 1.6 %
NASDAQ:AIP opened at $7.48 on Friday. Arteris has a 1 year low of $4.20 and a 1 year high of $9.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day moving average price of $7.98 and a two-hundred day moving average price of $7.36. The stock has a market capitalization of $287.83 million, a price-to-earnings ratio of -7.26 and a beta of 1.12.
Insiders Place Their Bets
In other news, CFO Nicholas B. Hawkins sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $8.01, for a total value of $80,100.00. Following the completion of the transaction, the chief financial officer now owns 242,896 shares in the company, valued at approximately $1,945,596.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arteris news, VP Paul L. Alpern sold 11,250 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $7.86, for a total transaction of $88,425.00. Following the sale, the vice president now directly owns 71,042 shares in the company, valued at $558,390.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Nicholas B. Hawkins sold 10,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $8.01, for a total value of $80,100.00. Following the completion of the transaction, the chief financial officer now owns 242,896 shares of the company’s stock, valued at approximately $1,945,596.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,825 shares of company stock worth $677,733. Corporate insiders own 33.70% of the company’s stock.
Analysts Set New Price Targets
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About Arteris
Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.
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