Arteris (NASDAQ:AIP – Get Free Report) issued its earnings results on Thursday. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07), Zacks reports. Arteris had a negative return on equity of 198.35% and a negative net margin of 69.70%. The firm had revenue of $14.58 million for the quarter, compared to analysts’ expectations of $13.68 million. During the same period last year, the firm earned ($0.25) earnings per share. Arteris updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.
Arteris Stock Performance
AIP stock traded down $0.26 on Friday, hitting $7.34. The company’s stock had a trading volume of 152,317 shares, compared to its average volume of 188,867. The stock has a market cap of $282.44 million, a price-to-earnings ratio of -7.48 and a beta of 1.12. The firm has a 50 day moving average of $8.00 and a two-hundred day moving average of $7.33. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.11. Arteris has a 1 year low of $4.20 and a 1 year high of $9.54.
Insiders Place Their Bets
In other Arteris news, CEO K Charles Janac sold 3,303 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $7.70, for a total transaction of $25,433.10. Following the completion of the sale, the chief executive officer now directly owns 315,341 shares of the company’s stock, valued at approximately $2,428,125.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arteris news, CFO Nicholas B. Hawkins sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $8.01, for a total transaction of $80,100.00. Following the sale, the chief financial officer now directly owns 242,896 shares of the company’s stock, valued at approximately $1,945,596.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO K Charles Janac sold 3,303 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $7.70, for a total transaction of $25,433.10. Following the completion of the transaction, the chief executive officer now directly owns 315,341 shares of the company’s stock, valued at approximately $2,428,125.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,825 shares of company stock valued at $677,733. Insiders own 33.70% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on AIP
Arteris Company Profile
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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