Arteris (NASDAQ:AIP) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Arteris (NASDAQ:AIP) released its quarterly earnings data on Thursday. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.07), Zacks reports. Arteris had a negative net margin of 69.70% and a negative return on equity of 198.35%. The firm had revenue of $14.58 million for the quarter, compared to analyst estimates of $13.68 million. During the same period last year, the business earned ($0.25) EPS. Arteris updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Arteris Trading Down 3.0 %

Shares of Arteris stock traded down $0.23 on Friday, reaching $7.37. The company had a trading volume of 235,187 shares, compared to its average volume of 189,213. 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 firm has a market cap of $283.60 million, a PE ratio of -7.48 and a beta of 1.12. The firm’s 50 day moving average price is $8.00 and its two-hundred day moving average price is $7.33. Arteris has a 52-week low of $4.20 and a 52-week high of $9.54.

Analysts Set New Price Targets

A number of brokerages have issued reports on AIP. Jefferies Financial Group reissued a “hold” rating and set a $9.00 target price (down previously from $11.00) on shares of Arteris in a report on Monday, May 13th. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 target price on shares of Arteris in a report on Friday, May 3rd. Finally, Westpark Capital reissued a “buy” rating and issued a $11.00 price target on shares of Arteris in a research note on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Insiders Place Their Bets

In other Arteris news, Director Antonio J. Viana sold 26,919 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $7.85, for a total transaction of $211,314.15. Following the transaction, the director now owns 203,639 shares in the company, valued at approximately $1,598,566.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Antonio J. Viana sold 26,919 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $7.85, for a total transaction of $211,314.15. Following the completion of the sale, the director now directly owns 203,639 shares in the company, valued at approximately $1,598,566.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Paul L. Alpern sold 3,615 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $7.18, for a total transaction of $25,955.70. Following the completion of the transaction, the vice president now directly owns 74,563 shares of the company’s stock, valued at $535,362.34. The disclosure for this sale can be found here. Insiders sold 88,825 shares of company stock valued at $677,733 in the last ninety days. Insiders own 33.70% of the company’s stock.

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.