Arteris (AIP) Set to Announce Earnings on Thursday

Arteris (NASDAQ:AIP) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Arteris to post earnings of ($0.17) per share for the quarter. Arteris has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Arteris had a negative return on equity of 150.71% and a negative net margin of 68.70%. The business had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $11.90 million. On average, analysts expect Arteris to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Arteris Stock Performance

Shares of AIP traded up $0.03 during midday trading on Tuesday, hitting $6.66. 26,987 shares of the company traded hands, compared to its average volume of 139,063. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.09. Arteris has a 52 week low of $3.66 and a 52 week high of $8.08. The firm has a 50 day moving average of $6.95 and a 200-day moving average of $6.16.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an “outperform” rating and set a $17.00 price objective on shares of Arteris in a research note on Tuesday, February 20th.

Insider Buying and Selling

In related news, CEO K Charles Janac sold 10,103 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total value of $71,024.09. Following the completion of the sale, the chief executive officer now owns 318,644 shares of the company’s stock, valued at $2,240,067.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Paul L. Alpern sold 11,250 shares of Arteris stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $6.13, for a total value of $68,962.50. Following the completion of the sale, the vice president now directly owns 87,521 shares of the company’s stock, valued at $536,503.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO K Charles Janac sold 10,103 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total transaction of $71,024.09. Following the sale, the chief executive officer now owns 318,644 shares in the company, valued at $2,240,067.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,264 shares of company stock valued at $558,958. 36.10% of the stock is owned by corporate insiders.

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.