Aehr Test Systems is engaged in test systems for burning-in and testing logic, optical, and memory integrated circuits... Show more
Aehr Test Systems, founded in 1977 and headquartered in Fremont, California, designs and manufactures advanced burn-in and test systems used to screen and stabilize semiconductor devices at the wafer level, singulated-die level, and packaged-part level. Its product portfolio includes the FOX-XP and FOX-NP wafer-level test and burn-in systems, the Sonoma package-level burn-in platform, and proprietary consumables such as the FOX WaferPak contactors and aligners and DiePak carriers.
The company has transformed its revenue base in recent years. Just two years ago, more than 95% of its business was tied to silicon carbide power devices for electric vehicles. Today, nearly 95% of fiscal 2026 revenue comes from markets outside electric-vehicle silicon carbide, led by AI accelerators, CPUs, network processors, and silicon photonics used in data-center infrastructure. Investors follow AEHR closely because its wafer-level burn-in technology addresses reliability and yield challenges in high-value AI and optical devices.
Over the trailing 30 days, AEHR advanced roughly 44.4%, rising from a closing price of $77.36 on July 20, 2026, to approximately $111.71 in intraday trading on August 19, 2026. The move was punctuated by pronounced volatility, including a spike above $110 on elevated volume in mid-July and a rapid climb through early August that carried the stock to an intraday high near $147 before a sharp pullback in mid-August.
The quarterly trend tells a similar but broader story. From a closing level of about $81.14 on May 19, 2026, the stock gained roughly 38% through mid-August, reflecting sustained momentum across AI, optical, and power-semiconductor demand rather than a single isolated catalyst. The stock's 52-week range underscores the scale of the move, with a low near $16.38 and a high near $147.40.
The primary catalyst was the company's fiscal fourth-quarter 2026 earnings report in mid-July. Aehr reported revenue of $18.8 million, up 34% year over year, and swung to non-GAAP net income of $0.11 per share from a prior-year loss. More importantly, bookings reached a record $60.7 million, up more than 500% from $11.1 million a year earlier, and management disclosed an effective backlog of roughly $100.6 million after receiving additional orders in the transition into fiscal 2027.
Guidance amplified the positive reaction. Aehr issued fiscal 2027 revenue guidance of $130 million to $150 million, representing approximately 160% to 200% growth, along with non-GAAP pretax profitability of 18% to 22% of revenue. Management also signaled that AI processors and silicon photonics accounted for more than 80% of quarterly revenue, up from 56% a year earlier.
Follow-on orders reinforced the narrative in early August. Aehr announced a $22 million production order from its lead AI processor customer for wafer-level burn-in systems, as well as a follow-on order from its lead silicon photonics customer for a fully automated FOX-XP multi-wafer burn-in system scheduled to ship in the first half of 2027. Analyst actions also supported sentiment, with firms raising ratings and price targets following the results.
The quarterly advance reflects a multi-month repricing of Aehr's growth outlook. Over the trailing three months, investors increasingly focused on the company's successful diversification from electric-vehicle silicon carbide into AI processors, optical interconnects, and power semiconductors for data-center applications. Record bookings and a rapidly expanding backlog gave the market greater confidence in revenue visibility, while management's expectation that its lead AI customer will significantly increase system and WaferPak purchases supported a longer-term growth thesis.
The move also brought valuation into sharper focus. Aehr now trades at a substantial premium to both its own history and industry peers such as Teradyne (TER) and Cohu (COHU), leaving limited room for execution missteps. Significant insider selling during the quarter, with no reported insider buying, added a note of caution amid the rally.
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Investors will be watching several factors. First is execution against the fiscal 2027 guidance range, including the cadence of Sonoma and FOX system shipments and the pace of WaferPak consumables demand. Second is order momentum from the lead AI processor and silicon photonics customers, where any expansion or delay in production ramps could move sentiment significantly. Third is the potential upside from new opportunities, including wafer-level burn-in evaluations with additional AI processor suppliers and the company's emerging work in memory applications, which management has not included in current guidance.
Macroeconomic conditions, semiconductor capital-spending cycles, and supply-chain pressures on high-power components also matter. Elevated valuation multiples and customer concentration mean the stock may remain volatile around earnings and order announcements. This information is not a forecast or recommendation; investors should conduct their own research.
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AEHR's Aroon Indicator triggered a bullish signal on August 12, 2026. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 254 similar instances where the Aroon Indicator showed a similar pattern. In of the 254 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
The Momentum Indicator moved above the 0 level on August 03, 2026. You may want to consider a long position or call options on AEHR as a result. In of 83 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for AEHR just turned positive on August 03, 2026. Looking at past instances where AEHR's MACD turned positive, the stock continued to rise in of 37 cases over the following month. The odds of a continued upward trend are .
AEHR moved above its 50-day moving average on August 03, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for AEHR crossed bullishly above the 50-day moving average on August 11, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a +2 3-day Advance, the price is estimated to grow further. Considering data from situations where AEHR advanced for three days, in of 277 cases, the price rose further within the following month. The odds of a continued upward trend are .
The 10-day RSI Indicator for AEHR moved out of overbought territory on August 18, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 42 similar instances where the indicator moved out of overbought territory. In of the 42 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 10 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AEHR declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
AEHR broke above its upper Bollinger Band on August 04, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 63, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. AEHR’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (16.026) is normal, around the industry mean (8.564). P/E Ratio (19.449) is within average values for comparable stocks, (179.037). AEHR's Projected Growth (PEG Ratio) (0.000) is very low in comparison to the industry average of (1.557). AEHR has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.006). P/S Ratio (66.225) is also within normal values, averaging (34.238).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of burn-in and test equipment for semiconductor manufacturing
Industry ElectronicProductionEquipment