Aehr Test Systems (AEHR) is a small-cap semiconductor test equipment provider experiencing explosive stock growth driven by AI-related demand for its wafer-level burn-in systems, with Q4 FY2026 earnings beating estimates and strong FY2027 guidance, though the stock remains highly volatile with negative trailing profitability and analyst targets below recent trading levels.
~$91.98 (as of ~2:01 PM EDT on July 15, 2026) +19.97 (+27.73%) intraday
Previous close: $72.01 (July 14, 2026)
Day's range: $87.00 - $110.20 | 52-week range: $14.01 - $126.62
Market Cap: ~$2.89 billion | Volume: ~10.68 million (vs avg ~2.51 million)
Links for more information: Yahoo Finance AEHR Quote | Google Finance
| Period | AEHR Return | S&P 500 Return |
|---|---|---|
| YTD | +355.47% | +10.57% |
| 1-Year | +554.52% | +21.23% |
| 3-Year | +87.83% | +68.00% |
| 5-Year | +3,172.60% | +73.60% |
Beta (5Y): 3.18 (high volatility). Shares outstanding: ~31.45 million. Short interest: ~13.24% of shares (as of June 30, 2026).
Links: Yahoo Finance Historical Prices | Performance Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $45.26 million |
| Net Income (TTM) | -$11.42 million |
| EPS (TTM) | -$0.38 |
| Gross Profit (TTM) | $13.9 million |
| Profit Margin | -25.23% |
| Operating Margin (TTM) | -41.01% |
| Cash (mrq) | $36.91 million |
| Total Debt (mrq) | $10.03 million |
| Book Value per Share (mrq) | $4.48 |
Interpretation: The company is transitioning toward profitability with AI-driven demand, but trailing twelve months show ongoing losses typical of growth-stage semi equipment firms.
Uncertainty: FY2027 revenue guidance of $130-150M (per earnings call) significantly exceeds analyst consensus of $85.14M; actual results depend on order conversion and customer ramps.
Links: Yahoo Financials | Key Statistics | Company IR
Consensus: Mixed - Moderate Buy / Hold (based on 4-5 analysts). Average price target: ~$71.33 (range $56-$90). Current price significantly above average target post-surge.
| Rating Breakdown (approx.) | Count |
|---|---|
| Strong Buy / Buy | 3 |
| Hold | 1-2 |
| Sell | 1 |
| Metric | Avg Estimate | Range | YoY Growth Est. |
|---|---|---|---|
| Revenue | $85.14M | $80M - $89.8M | +70% |
| EPS (Normalized) | $0.15 | $0.10 - $0.20 | +400% |
Interpretation: Analysts see substantial growth from AI and power semiconductor markets, but some note the stock may be fully valued after the rally (e.g., "Hold" or caution on backlog conversion).
Uncertainty: Targets largely pre-date the July 15 surge and strong guidance; revisions likely. Limited analyst coverage (small-cap stock).
Interpretation: Heavy reliance on AI hyperscalers and power semiconductor markets for growth; diversification into photonics and automotive noted.
Uncertainty: Specific customer names often undisclosed due to confidentiality; order conversion and future volumes not guaranteed.
| Company | Ticker | Focus / Notes | Market Cap (approx.) |
|---|---|---|---|
| Teradyne | TER | Broad semiconductor test equipment | ~$53B |
| FormFactor | FORM | Probe cards, test & measurement | ~$9B |
| Advantest | ATEYY / 6857.T | ATE systems (Japan) | ~$5B+ |
| Tokyo Electron | TOELY | Semi equipment including test | ~$16B+ |
| Photronics | PLAB | Photomasks / related | ~$1.7B |
| Axcelis Technologies | ACLS | Ion implantation / power semis | ~$4.5B |
AEHR specializes in niche wafer-level burn-in (WLBI) and full-wafer contactors (FOX platform), differentiating from broader ATE players.
Links: Aehr Official Site (Products/Customers) | Peer Comparison | GlobalData Competitors
Overview: Aehr Test Systems, Inc. (founded/incorporated 1977, HQ Fremont, CA) develops and sells test and burn-in equipment primarily for semiconductors. Key products: FOX-XP / FOX-NP (full wafer contact test & burn-in systems for up to 300mm wafers), Sonoma (package-level), WaferPak contactors, DiePak carriers. Focus areas include power semiconductors (SiC, GaN), AI processors, silicon photonics, memory, sensors, and automotive/power electronics. ~136 employees. Fiscal year ends May.
History: Long-established player in burn-in test since the late 1970s. Expanded into wafer-level solutions over time. Recent pivot/acceleration into AI and high-power applications with new platforms like FOX-XP and Sonoma. Publicly traded on NASDAQ (AEHR).
Links: Yahoo Company Profile | Official Website
Links: Yahoo News | Company Press Releases