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Aehr Test Systems Sees Record AI Order and Growing Backlog Drive Surge in 2026 Aehr Test Systems received a record US$41 million follow-on production order from its lead hyperscale AI customer for Sonoma burn-in systems used to test custom AI processor ASICs.
Total bookings for the second half of fiscal 2026 reached more than US$92 million, and unfilled order backlog stood at US$38.7 million, nearly double the level a year earlier.
The company expanded its Fremont facility and contract manufacturing capacity, completed a US$60 million equity offering, and saw insider share sales from founder Rhea J. Posedel and hedge fund Halter Ferguson.
For investors, the key takeaway is the size and concentration of demand tied to a leading hyperscale AI customer. The record US$41 million order and more than US$92 million in second-half bookings indicate that burn-in systems for AI processors are becoming a more established part of semiconductor manufacturing, with Aehr participating as a supplier to this trend. The near doubling of backlog to US$38.7 million offers some visibility into future production needs, even as the most recent quarter showed declining net sales and mixed earnings.
The balance sheet has also changed. The US$60 million equity raise adds capital that can support capacity investments and working capital, though it also results in dilution for existing shareholders. Insider and hedge fund selling may prompt some investors to consider the balance between profit-taking and long-term conviction, especially after a year-to-date stock move of 327% in 2026 that has outpaced larger chip companies such as Nvidia and AMD. Recent Insider Transactions • Apr 16
Chief Operating Officer recently sold US$247k worth of stock On the 9th of April, Adil Engineer sold around 4k shares on-market at roughly US$66.30 per share. This transaction amounted to 8.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$420k. This was Adil's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Apr 12
President notifies of intention to sell stock Gayn Erickson intends to sell 96k shares in the next 90 days after lodging an Intent To Sell Form on the 10th of April. If the sale is conducted around the recent share price of US$70.58, it would amount to US$6.8m. For the year to May 2019, Gayn's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2025, Gayn's direct individual holding has increased from 374.92k shares to 418.78k. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months. Tillkännagivande • Apr 09
Aehr Test Systems, Inc. has filed a Follow-on Equity Offering in the amount of $60 million. Aehr Test Systems, Inc. has filed a Follow-on Equity Offering in the amount of $60 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Apr 08
Third quarter 2026 earnings released: US$0.10 loss per share (vs US$0.022 loss in 3Q 2025) Third quarter 2026 results: US$0.10 loss per share (further deteriorated from US$0.022 loss in 3Q 2025). Revenue: US$10.3m (down 44% from 3Q 2025). Net loss: US$3.20m (loss widened 398% from 3Q 2025). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Semiconductor industry in the US. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Tillkännagivande • Mar 30
Aehr Test Systems, Inc. to Report Q3, 2026 Results on Apr 07, 2026 Aehr Test Systems, Inc. announced that they will report Q3, 2026 results After-Market on Apr 07, 2026 Price Target Changed • Mar 05
Price target increased by 49% to US$36.33 Up from US$24.33, the current price target is an average from 3 analysts. New target price is 10% below last closing price of US$40.49. Stock is up 359% over the past year. The company posted a net loss per share of US$0.13 last year. New Risk • Mar 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risk Significant insider selling over the past 3 months (US$646k sold). Recent Insider Transactions • Feb 16
Founder & Independent Chairman recently sold US$420k worth of stock On the 13th of February, Rhea Posedel sold around 14k shares on-market at roughly US$30.02 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Rhea's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Feb 15
Founder & Independent Chairman notifies of intention to sell stock Rhea Posedel intends to sell 14k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of February. If the sale is conducted around the recent share price of US$27.89, it would amount to US$390k. Since September 2025, Rhea has owned 493.73k shares directly. Company insiders have collectively sold US$888k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jan 27
Independent Director recently sold US$143k worth of stock On the 22nd of January, Laura Oliphant sold around 5k shares on-market at roughly US$31.40 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$154k. Insiders have been net sellers, collectively disposing of US$715k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Jan 22
Independent Director notifies of intention to sell stock Laura Oliphant intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of January. If the sale is conducted around the recent share price of US$31.40, it would amount to US$143k. Since September 2025, Laura has owned 16.20k shares directly. Company insiders have collectively sold US$662k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Jan 09
Second quarter 2026 earnings released: US$0.11 loss per share (vs US$0.035 loss in 2Q 2025) Second quarter 2026 results: US$0.11 loss per share (further deteriorated from US$0.035 loss in 2Q 2025). Revenue: US$9.88m (down 27% from 2Q 2025). Net loss: US$3.23m (loss widened 214% from 2Q 2025). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Semiconductor industry in the US. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jan 09
Aehr Test Systems, Inc. Reinstates Earnings Guidance for the Second Half of Fiscal 2026 Aehr Test Systems, Inc. reinstated earnings guidance for the second half of fiscal 2026. For the period, which began November 29, 2025 and ends this May 29, 2026, Aehr expects revenue between $25 million and $30 million. Tillkännagivande • Dec 30
Aehr Test Systems, Inc. to Report Q2, 2026 Results on Jan 08, 2026 Aehr Test Systems, Inc. announced that they will report Q2, 2026 results After-Market on Jan 08, 2026 Buy Or Sell Opportunity • Nov 21
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to US$20.27. The fair value is estimated to be US$16.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.5% over the last 3 years. Meanwhile, the company became loss making. Recent Insider Transactions • Nov 07
Independent Director recently sold US$154k worth of stock On the 5th of November, Howard Slayen sold around 6k shares on-market at roughly US$25.73 per share. This transaction amounted to 2.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$223k. Insiders have been net sellers, collectively disposing of US$573k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Oct 24
Insider exercised options to buy US$2.8m worth of stock. On the 22nd of October, Vernon Rogers exercised options to buy 110k shares at a strike price of around US$2.03, costing a total of US$224k. This transaction amounted to 297% of their direct individual holding at the time of the trade. Since December 2024, Vernon's direct individual holding has increased from 19.35k shares to 147.62k. Company insiders have collectively sold US$508k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Oct 13
Independent Director recently sold US$223k worth of stock On the 9th of October, Fariba Danesh sold around 9k shares on-market at roughly US$24.79 per share. This transaction amounted to 73% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$418k more than they bought in the last 12 months. Reported Earnings • Oct 07
First quarter 2026 earnings released: US$0.07 loss per share (vs US$0.023 profit in 1Q 2025) First quarter 2026 results: US$0.07 loss per share (down from US$0.023 profit in 1Q 2025). Revenue: US$11.0m (down 16% from 1Q 2025). Net loss: US$2.08m (down 416% from profit in 1Q 2025). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Semiconductor industry in the US. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Tillkännagivande • Sep 29
Aehr Test Systems, Inc. to Report Q1, 2026 Results on Oct 06, 2025 Aehr Test Systems, Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Oct 06, 2025 Tillkännagivande • Sep 11
Aehr Test Systems, Inc., Annual General Meeting, Oct 20, 2025 Aehr Test Systems, Inc., Annual General Meeting, Oct 20, 2025. Location: 400kato terrace, california 94539, fremont United States New Risk • Aug 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risk Significant insider selling over the past 3 months (US$150k sold). Buy Or Sell Opportunity • Aug 25
Now 44% overvalued after recent price rise Over the last 90 days, the stock has risen 148% to US$24.59. The fair value is estimated to be US$17.08, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Recent Insider Transactions • Jul 30
Independent Director recently sold US$108k worth of stock On the 25th of July, Laura Oliphant sold around 5k shares on-market at roughly US$21.50 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$115k more than they sold in the last 12 months. Recent Insider Transactions Derivative • Jul 23
Founder & Independent Chairman notifies of intention to sell stock Rhea Posedel intends to sell 18k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of July. If the sale is conducted around the recent share price of US$19.83, it would amount to US$357k. Since September 2024, Rhea's direct individual holding has increased from 496.46k shares to 523.67k. Company insiders have collectively bought US$68k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Jul 21
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$88k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Significant insider selling over the past 3 months (US$88k sold). Buy Or Sell Opportunity • Jul 09
Now 30% undervalued Over the last 90 days, the stock has risen 63% to US$13.29. The fair value is estimated to be US$18.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Board Change • Jul 08
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Fariba Danesh was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jun 30
Aehr Test Systems, Inc. to Report Q4, 2025 Results on Jul 08, 2025 Aehr Test Systems, Inc. announced that they will report Q4, 2025 results After-Market on Jul 08, 2025 Reported Earnings • Apr 09
Third quarter 2025 earnings released: US$0.022 loss per share (vs US$0.051 loss in 3Q 2024) Third quarter 2025 results: US$0.022 loss per share (improved from US$0.051 loss in 3Q 2024). Revenue: US$18.3m (up 142% from 3Q 2024). Net loss: US$643.0k (loss narrowed 56% from 3Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor industry in the US. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$6.85, the stock trades at a trailing P/E ratio of 9.2x. Average forward P/E is 20x in the Semiconductor industry in the US. Total loss to shareholders of 28% over the past three years. Tillkännagivande • Mar 28
Aehr Test Systems, Inc. to Report Q3, 2025 Results on Apr 08, 2025 Aehr Test Systems, Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Apr 08, 2025 Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$9.77, the stock trades at a trailing P/E ratio of 13.2x. Average forward P/E is 21x in the Semiconductor industry in the US. Total loss to shareholders of 4.4% over the past three years. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to US$12.47, the stock trades at a trailing P/E ratio of 16.8x. Average forward P/E is 24x in the Semiconductor industry in the US. Total returns to shareholders of 6.3% over the past three years. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to US$12.46, the stock trades at a trailing P/E ratio of 16.8x. Average forward P/E is 21x in the Semiconductor industry in the US. Total returns to shareholders of 5.3% over the past three years. Price Target Changed • Jan 17
Price target decreased by 24% to US$19.00 Down from US$25.00, the current price target is provided by 1 analyst. New target price is 52% above last closing price of US$12.46. Stock is down 25% over the past year. The company posted earnings per share of US$1.15 last year. Reported Earnings • Jan 14
Second quarter 2025 earnings released: US$0.035 loss per share (vs US$0.21 profit in 2Q 2024) Second quarter 2025 results: US$0.035 loss per share (down from US$0.21 profit in 2Q 2024). Revenue: US$13.5m (down 37% from 2Q 2024). Net loss: US$1.03m (down 117% from profit in 2Q 2024). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Semiconductor industry in the US. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Tillkännagivande • Jan 14
Aehr Test Systems Reiterates Earnings Guidance for Fiscal Year Ending May 30, 2025 For the fiscal year ending May 30, 2025, Aehr Test Systems, Inc. reiterated its previously provided guidance for total revenue of at least $70 million. Tillkännagivande • Jan 01
Aehr Test Systems, Inc. to Report Q2, 2025 Results on Jan 13, 2025 Aehr Test Systems, Inc. announced that they will report Q2, 2025 results at 4:00 PM, US Eastern Standard Time on Jan 13, 2025 Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$16.98, the stock trades at a trailing P/E ratio of 17.3x. Average forward P/E is 20x in the Semiconductor industry in the US. Total loss to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$14.49, the stock trades at a trailing P/E ratio of 14.7x. Average forward P/E is 20x in the Semiconductor industry in the US. Total loss to shareholders of 5.8% over the past three years. Tillkännagivande • Dec 06
Gewirtz & Grossman LLC Notifies Class Action Lawsuit Filed Against Aehr Test Systems, Inc Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Aehr Test Systems, Inc. and certain of its officers. This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Aehr securities between January 9, 2024 and March 24, 2024, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site. The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) contrary to prior representations to investors, Aehr was continuing to experience substantial delays in customer orders; (2) the foregoing issue was likely to have a material negative impact on the Company's revenue growth; (3) accordingly, the Company's business and/or financial prospects were overstated; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times. A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/AEHR. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Aehr you have until February 3, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful. Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$14.08, the stock trades at a trailing P/E ratio of 14.3x. Average forward P/E is 21x in the Semiconductor industry in the US. Total loss to shareholders of 45% over the past three years. Tillkännagivande • Oct 16
Aehr Test Systems, Inc. has filed a Follow-on Equity Offering in the amount of $40 million. Aehr Test Systems, Inc. has filed a Follow-on Equity Offering in the amount of $40 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Oct 11
First quarter 2025 earnings released: EPS: US$0.023 (vs US$0.16 in 1Q 2024) First quarter 2025 results: EPS: US$0.023 (down from US$0.16 in 1Q 2024). Revenue: US$13.1m (down 36% from 1Q 2024). Net income: US$660.0k (down 86% from 1Q 2024). Profit margin: 5.0% (down from 23% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Semiconductor industry in the US. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Tillkännagivande • Oct 11
Aehr Test Systems, Inc. Reaffirms Earnings Guidance for the Fiscal Year Ending May 30, 2025 Aehr Test Systems, Inc. reaffirms earnings guidance for the fiscal year ending May 30, 2025. For the fiscal year ending May 30, 2025, Aehr is reiterating its previously provided guidance for total revenue of at least $70 million and net profit before taxes of at least 10% of revenue. Tillkännagivande • Oct 02
Aehr Test Systems, Inc. to Report Q1, 2025 Results on Oct 10, 2024 Aehr Test Systems, Inc. announced that they will report Q1, 2025 results After-Market on Oct 10, 2024 Tillkännagivande • Sep 12
Aehr Test Systems, Inc., Annual General Meeting, Oct 21, 2024 Aehr Test Systems, Inc., Annual General Meeting, Oct 21, 2024. Location: 400 kato terrace, california 94539, fremont United States Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$15.01, the stock trades at a trailing P/E ratio of 13.4x. Average forward P/E is 18x in the Semiconductor industry in the US. Total returns to shareholders of 131% over the past three years. Recent Insider Transactions • Aug 01
Independent Director recently sold US$186k worth of stock On the 30th of July, Fariba Danesh sold around 10k shares on-market at roughly US$18.59 per share. This transaction amounted to 70% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$967k more than they bought in the last 12 months. Price Target Changed • Jul 18
Price target increased by 108% to US$25.00 Up from US$12.00, the current price target is provided by 1 analyst. New target price is 33% above last closing price of US$18.83. Stock is down 61% over the past year. The company posted earnings per share of US$1.15 last year. Reported Earnings • Jul 17
Full year 2024 earnings released: EPS: US$1.15 (vs US$0.52 in FY 2023) Full year 2024 results: EPS: US$1.15 (up from US$0.52 in FY 2023). Revenue: US$66.2m (up 1.9% from FY 2023). Net income: US$33.2m (up 128% from FY 2023). Profit margin: 50% (up from 22% in FY 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Semiconductor industry in the US. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jul 17
Aehr Test Systems (NasdaqCM:AEHR) agreed to acquire Incal Technology, Inc for $23.1. Aehr Test Systems (NasdaqCM:AEHR) agreed to acquire Incal Technology, Inc for $23.1 on July 15, 2024. A cash consideration of $14 million will be paid by Aehr Test Systems. The consideration consists of 0.55 million common equity of Aehr Test Systems to be issued for common equity of Incal Technology, Inc. The transaction has been approved by the board of directors of both companies and the Acquisition is expected to close within 60 days, subject to customary closing conditions. The transaction is subject to certain post-closing adjustments with respect to working capital. Latham & Watkins LLP acted as legal advisor for Aehr Test Systems. Tillkännagivande • Jul 17
Aehr Test Systems Provides Earnings Guidance for the Fiscal Year Ending May 30, 2025 Aehr Test Systems provided earnings guidance for the fiscal year ending May 30, 2025. For the period, the company expects total revenue of at least $70 million and net profit before taxes of at least 10% of revenue. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to US$15.75, the stock trades at a trailing P/E ratio of 29.6x. Average forward P/E is 23x in the Semiconductor industry in the US. Total returns to shareholders of 363% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$9.07 per share. Tillkännagivande • Jul 04
Aehr Test Systems to Report Q4, 2024 Results on Jul 16, 2024 Aehr Test Systems announced that they will report Q4, 2024 results After-Market on Jul 16, 2024 Buy Or Sell Opportunity • Jul 01
Now 23% overvalued Over the last 90 days, the stock has fallen 6.6% to US$11.10. The fair value is estimated to be US$8.99, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 6.6% in a year. Earnings are forecast to decline by 22% in the next year. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$10.17, the stock trades at a trailing P/E ratio of 19.1x. Average forward P/E is 23x in the Semiconductor industry in the US. Total returns to shareholders of 268% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$8.97 per share. Buy Or Sell Opportunity • Jun 22
Now 20% overvalued Over the last 90 days, the stock has fallen 26% to US$10.80. The fair value is estimated to be US$8.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 6.6% in a year. Earnings are forecast to decline by 22% in the next year. New Risk • Jun 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 14% per year for the foreseeable future. High level of non-cash earnings (34% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$12.75, the stock trades at a trailing P/E ratio of 23.9x. Average forward P/E is 21x in the Semiconductor industry in the US. Total returns to shareholders of 381% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$8.78 per share. Board Change • Jun 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Fariba Danesh was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Apr 24
Now 24% overvalued Over the last 90 days, the stock has fallen 32% to US$11.14. The fair value is estimated to be US$8.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 6.6% in a year. Earnings are forecast to decline by 22% in the next year. New Risk • Apr 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 14% per year for the foreseeable future. High level of non-cash earnings (34% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Significant insider selling over the past 3 months (US$152k sold). Reported Earnings • Apr 10
Third quarter 2024 earnings released: US$0.051 loss per share (vs US$0.15 profit in 3Q 2023) Third quarter 2024 results: US$0.051 loss per share (down from US$0.15 profit in 3Q 2023). Revenue: US$7.56m (down 56% from 3Q 2023). Net loss: US$1.47m (down 136% from profit in 3Q 2023). Revenue is expected to decline by 5.7% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in the US are expected to grow by 16%. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 72% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Apr 10
Aehr Test Systems Provides Earnings Guidance for the Fiscal Year Ending May 31, 2024 Aehr Test Systems provides earnings guidance for the fiscal year ending May 31, 2024. For the period, the company reiterating its previously provided guidance for total revenue of greater than $65 million and GAAP net income of approximately $11 million or more, or $0.38 per diluted share. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$12.40, the stock trades at a trailing P/E ratio of 17x. Average forward P/E is 21x in the Semiconductor industry in the US. Total returns to shareholders of 382% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$7.15 per share. Tillkännagivande • Mar 26
Aehr Test Systems to Report Q3, 2024 Results on Apr 09, 2024 Aehr Test Systems announced that they will report Q3, 2024 results on Apr 09, 2024 Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$14.50, the stock trades at a trailing P/E ratio of 19.9x. Average forward P/E is 21x in the Semiconductor industry in the US. Total returns to shareholders of 464% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$7.14 per share. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$17.21, the stock trades at a trailing P/E ratio of 23.6x. Average forward P/E is 19x in the Semiconductor industry in the US. Total returns to shareholders of 450% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$7.30 per share. Recent Insider Transactions Derivative • Feb 10
Founder & Independent Chairman exercised options to buy US$310k worth of stock. On the 6th of February, Rhea Posedel exercised options to buy 18k shares at a strike price of around US$3.93, costing a total of US$71k. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. Since June 2023, Rhea's direct individual holding has decreased from 571.22k shares to 477.11k. Company insiders have collectively sold US$21m more than they bought, via options and on-market transactions in the last 12 months. 