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

Arteris (NASDAQ:AIP) released its quarterly earnings data on Thursday. The company reported ($0.21) EPS 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 the consensus estimate of $13.68 million. Arteris had a negative return on equity of 198.35% and a negative net margin of 69.70%. 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 Trading Down 3.4 %

AIP stock traded down $0.26 during midday trading on Friday, hitting $7.34. The stock had a trading volume of 152,317 shares, compared to its average volume of 188,867. 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. The business has a fifty day moving average price of $8.00 and a two-hundred day moving average price of $7.33. The firm has a market cap of $282.44 million, a P/E ratio of -7.48 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AIP shares. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of Arteris in a research report on Friday, May 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 price objective (down previously from $11.00) on shares of Arteris in a research note on Monday, May 13th. Finally, Westpark Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Arteris in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.00.

Insider Transactions at Arteris

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

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.