Atomera Inc (NASDAQ:ATOM), a semiconductor technology company with a market capitalization of approximately $178 million, recently disclosed that its CEO and President, Scott Bibaud, sold a portion of his holdings in the company. According to the SEC filing, Bibaud sold a total of 5,219 shares of common stock on December 2, 2024. The shares were sold at a price of $6.06 each, amounting to a total transaction value of approximately $31,627. The stock, which has shown significant volatility with a 56.5% gain over the past six months, currently trades near $6.20.
The sales were conducted to cover tax withholding obligations related to the vesting of restricted stock grants. Following these transactions, Bibaud continues to hold 333,287 shares directly. InvestingPro analysis reveals that while the company maintains impressive gross profit margins of 79% and holds more cash than debt, it currently appears slightly overvalued based on Fair Value calculations. For deeper insights into Atomera's financial health and 13 additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Atomera Incorporated reported advancements in semiconductor technology and ongoing collaborations with industry leaders in its Third Quarter Fiscal Year 2024 Earnings Call. Despite a net loss of $4.6 million for Q3 2024, an improvement from the previous year, and a decrease in revenues to $22,000, the company remains optimistic about its growth prospects. Key developments include a high-margin royalties anticipation from its collaboration with STMicroelectronics on smart power products, and the development of a 48-volt SPX technology to improve data center efficiency.
Atomera's financial position included cash reserves of $17.3 million as of September 2024. The company is also actively pursuing funding opportunities under the CHIPS Act and expects to make announcements in the near future. In addition to these, Atomera is making strides in advanced node transistors and memory segments, with promising negotiations for JDAs and licenses.
The company's future plans include an increase in investments for 2025 and a proposal submitted under the CHIPS Act for funding opportunities. Despite the challenges, Atomera is navigating the financial landscape with optimism, banking on its innovative technologies and strategic partnerships to drive future growth.
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