Arteris
AIP on Nasdaq. Arteris sells chip connection technology to companies that design and make semiconductors. Market value $1.2bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $0.57 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 34 of 100. Price score: 3 of 100. Our list needs 70 on quality and 60 on price.
$24.13 a share, 100% above its 1-year low
Over the past year the price has ranged from $12.06 to $50.26.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $38m | $50m | $54m | $58m | $71m |
| Operating margin | |||||
| Operating margin | -57.5% | -57.3% | -65.5% | -54.7% | -47.0% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.03bn | 0.04bn | 0.04bn | 0.04bn | 0.05bn |
Health checks
- Free cash flow positive1 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)4 of 8 checks we could run
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsStrong, 16.8% a year
- Buying back its own sharesNo, 47% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $24 million last quarter, up 46% on a year ago.
- A loss of $14 million, compared with a loss of $9 million a year ago.
- It loses 48 cents on each $1 of sales, compared with 49 cents a year earlier.
- Spare cash over the past 12 months: $7 million. A year earlier it spent $2 million more than it brought in.
- 13% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $15m |
| December 2024 | $15m |
| March 2025 | $17m |
| June 2025 | $17m |
| September 2025 | $17m |
| December 2025 | $20m |
| March 2026 | $23m |
| June 2026 | $24m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$8m |
| December 2024 | -$8m |
| March 2025 | -$8m |
| June 2025 | -$9m |
| September 2025 | -$9m |
| December 2025 | -$9m |
| March 2026 | -$8m |
| June 2026 | -$14m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 February 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
1 long-term investor we follow owns it, up from 0 last quarter. 211 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $345,038 | <0.1% | New |
Largest holders overall
- Needham Investment Management$191m
- BlackRock$160mAdded
- Vanguard Capital Management$74mAdded
- Franklin Resources$73mCut
- Federated Hermes$69mAdded
- Acadian Asset Management$61mAdded
- Nuveen$52mAdded
- Goldman Sachs Group$49mAdded
- Jacobs Levy Equity Management$48mAdded
- Geode Capital Management$43mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- NEEDHAM INVESTMENT MANAGEMENT L.L.C.Passive investorat least 7.8%(filed with 3 related holders)Since 30 September 2025
- BlackRock, Inc.Passive investor6.2%Since 30 June 2026
| Holder | Stake | Since | |
|---|---|---|---|
NEEDHAM INVESTMENT MANAGEMENT L.L.C. Passive investor | at least 7.8% (filed with 3 related holders) | 30 September 2025 | |
BlackRock, Inc. Passive investor | 6.2% | 30 June 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 8 sold $81m, $69m of it under preset trading plans.
- Moll Laurent RChief Operating OfficerSoldunder a preset trading plan
- Date
- 5 October 2026
- Shares
- 12,219
- Price
- $24.29
- Value
- $296,775
- Alpern Paul LVP and General CounselSoldunder a preset trading plan
- Date
- 5 October 2026
- Shares
- 6,003
- Price
- $24.24
- Value
- $145,500
- JANAC K CHARLESPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 5 October 2026
- Shares
- 11,452
- Price
- $24.27
- Value
- $277,987
- Moll Laurent RChief Operating OfficerSoldunder a preset trading plan
- Date
- 2 October 2026
- Shares
- 5,600
- Price
- $24.64
- Value
- $138,001
- Alpern Paul LVP and General CounselSoldunder a preset trading plan
- Date
- 2 October 2026
- Shares
- 3,648
- Price
- $24.64
- Value
- $89,898
- JANAC K CHARLESPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 2 October 2026
- Shares
- 9,359
- Price
- $24.64
- Value
- $230,635
- Alpern Paul LVP and General CounselSoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 6,500
- Price
- $23.84
- Value
- $154,933
- JANAC K CHARLESPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 100,000
- Price
- $23.82
- Value
- $2m
- Moll Laurent RChief Operating OfficerSoldunder a preset trading plan
- Date
- 14 September 2026
- Shares
- 9,219
- Price
- $20.85
- Value
- $192,223
- Alpern Paul LVP and General CounselSoldunder a preset trading plan
- Date
- 1 September 2026
- Shares
- 4,000
- Price
- $20.77
- Value
- $83,063
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 5 October 2026 | Moll Laurent R Chief Operating Officer | Sold under a preset trading plan | 12,219 | $24.29 | $296,775 |
| 5 October 2026 | Alpern Paul L VP and General Counsel | Sold under a preset trading plan | 6,003 | $24.24 | $145,500 |
| 5 October 2026 | JANAC K CHARLES President and CEO, Director | Sold under a preset trading plan | 11,452 | $24.27 | $277,987 |
| 2 October 2026 | Moll Laurent R Chief Operating Officer | Sold under a preset trading plan | 5,600 | $24.64 | $138,001 |
| 2 October 2026 | Alpern Paul L VP and General Counsel | Sold under a preset trading plan | 3,648 | $24.64 | $89,898 |
| 2 October 2026 | JANAC K CHARLES President and CEO, Director | Sold under a preset trading plan | 9,359 | $24.64 | $230,635 |
| 1 October 2026 | Alpern Paul L VP and General Counsel | Sold under a preset trading plan | 6,500 | $23.84 | $154,933 |
| 1 October 2026 | JANAC K CHARLES President and CEO, Director | Sold under a preset trading plan | 100,000 | $23.82 | $2m |
| 14 September 2026 | Moll Laurent R Chief Operating Officer | Sold under a preset trading plan | 9,219 | $20.85 | $192,223 |
| 1 September 2026 | Alpern Paul L VP and General Counsel | Sold under a preset trading plan | 4,000 | $20.77 | $83,063 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Feb 2026, plus the 10-Q filed 6 Aug 2026 and 4 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.