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AEAEHR

Aehr Test Systems

$AEHR·$3.6B·Semiconductors·Technology
$93.77-8.4%YTD+387.1%1Y+810.1%
Mentions · last 7 days
2026-06-17: 271 posts2026-06-18: 186 posts2026-06-19: 66 posts2026-06-20: 26 posts2026-06-21: 30 posts2026-06-22: 76 posts2026-06-23: 26 posts692+2%
Price updated 6m ago·X counts updated 20h ago
AEAEHR
$AEHRAehr Test Systems
$93.77-8.42%692 posts+2%
AI analysisFundamentalsVoices on X
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AI verdict & sentimentAI analysisGenerated by AI from underlying data

Top X posts

Today's AI verdict on what's driving $AEHR, plus how loud the X conversation is and which way it's leaning.

AI analysis

TickerTalks’ read on the fundamentals and what’s driving the move.

Driven by hypeCooling offAI verdict · as of 2026-06-24

Catching its breath after a run — could pick back up or fade from here.

Wafer-level burn-in spike on real silicon-photonics order flow — up 810% in a year, today's 9.6% drop is the math arriving.

Aehr Test Systems makes wafer-level burn-in equipment — the FOX-XP and FOX-CP platforms that test silicon at scale before final packaging — and is the latest pick-and-shovel name to be repriced on AI-optical demand.

  • The fundamentals haven't yet caught up with the price: Q3 revenue actually fell 44% YoY to $10.3M (the AI-photonics ramp hasn't fully replaced legacy SiC test volume), with -34% operating margin and FY26 consensus of just $50M revenue (with a small loss) rising to $90M and a $0.15 profit in FY27 — at 68x trailing sales and 122% above the 200-day MA, the multiple is a clean function of the order book, not the income statement.
  • The order flow is the bull case: the freshly announced follow-on production order from a major silicon-photonics customer for fully automated wafer-level burn-in (with nine-wafer parallel testing capability) plus the recent $41M follow-on package-level burn-in order — that's the kind of scaling-customer-commitment that justifies the re-rate, IF it converts in the next 2-3 quarters.
  • The valuation skeptics have a real point: AEHR at 60-75x sales vs comparable tester Test Research (TRT) at ~2.5x sales is the cleanest relative-value flag in the group, with some traders explicitly rotating into TRT — today's 9.6% drop with no fundamental news suggests the relative-value framing is starting to bite.

The July 14 fiscal-Q4 earnings is the next test — visible AI-photonics revenue mix above 50% with a credible FY27 path to $90M+ keeps the parabolic move going; in-line revenue with no AI-customer concentration commentary, and the 810% TTM gives back fast. Manage position size accordingly; the float is low and beta is 3.18.

Agrees with X sentimentThe bullish case (silicon-photonics follow-on orders, $41M package-level burn-in, nine-wafer parallel testing capability, multiple hyperscaler-AI-customer adds) is real on the order-flow side. The valuation-skeptic minority pointing to TRT at 2.5x sales vs AEHR at 60-75x is mathematically right — partial agreement; relative-value rotation has started.

What to watch: July 14 fiscal-Q4 earnings — needs AI-photonics revenue mix above 50% AND a credible FY27 path to $90M+. In-line revenue with no AI-customer-concentration commentary, and the 810% TTM gives back; TRT rotation is the active relative-value short-circuit.

On the calendar: 2026-07-14 — Q4 FY26 earnings

extreme valuationrevenue declininglow floathigh beta

X sentiment

What the X crowd is saying right now — descriptive, summarised from the day’s posts.

Bullish sentiment51 posts analyzed · as of 2026-06-23

The conversation is dominated by a wave of follow-on production orders for Aehr's FOX-XP wafer-level burn-in systems from silicon photonics customers serving hyperscale AI data centers, including a recently announced order targeting nine-wafer parallel testing. Bulls frame Aehr as a validated pick-and-shovel play on the optics-for-AI transition, citing the move from the low $30s to over $100 and a record $41M follow-on package-level burn-in order. A vocal minority flags valuation, noting AEHR trades around 60-75x sales while comparable tester TRT trades around 2.5x, with some traders taking profits or rotating into TRT.

Read the AI verdict + X sentiment for $AEHR

  • One-line verdict on what's driving the move — fundamentals, momentum, both, or an event
  • Next dated catalyst when there is one (earnings, deal closing, activist clock)
  • X crowd read with bullish/bearish call + post volume
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What it does

Plain-English summary of the business — what they sell and how they make money.

Makes wafer-level burn-in test systems for silicon carbide semiconductors used in EV powertrains and charging infrastructure.

Industry overviewAI analysisGenerated by AI from underlying data

Where Semiconductors sits in its cycle right now — and what that implies for $AEHR.

Semiconductors · Technology

Hyperscaler AI capex remains the structural engine — Goldman Sachs' $1T+ AI infrastructure spend forecast for 2027 validates no capex retreat, keeping NVDA Blackwell allocation tight through 2H26. HBM3e pricing holds as LLM context-window expansion drives 5-8x per-server memory requirements vs. prior cycles, with Micron's June 24 earnings the week's key data point.

What this means for $AEHR

Partial — Aehr Test's wafer-level burn-in for SiC power semiconductors serves EV and industrial markets; AI data center exposure is indirect through power device testing.

Top industry ETF

$SMHVanEck Semiconductor ETF
+68.6%YTD
+137.5%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
-264.7How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
-8.3%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
-34.3%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
-0.4%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
68.4Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
-8.9%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
30.7%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
0.1Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q1 2026Apr 7, 2026$-0.05$-0.07+28.6%
Q4 2025Jan 8, 2026$-0.04$-0.08+50.0%
Q3 2025Oct 6, 2025$0.01$0.010.0%
Q2 2025Jul 8, 2025$-0.01$-0.01+33.3%
Next earningsTue, Jul 14·consensus EPS $-0.01

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q3 FY26$10.3M-43.7%32.7%-41.0%$-0.10$-2.9M
Q2 FY26$9.9M-26.5%25.7%-49.2%$-0.11$-1.9M
Q1 FY26$11.0M-16.4%33.9%-37.1%$-0.07$-1.7M
Q4 FY25$14.1M-15.1%30.3%-16.6%$-0.10$-5.1M

Forward consensus

5-year forecast · up to 3 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$49.9M$48.4M – $51.2M-$0.13-$0.14 – -$0.133
FY27$85.1M$82.6M – $87.4M$0.15$0.15 – $0.163
FY28$120.8M$117.2M – $124.1M$0.30$0.29 – $0.311
FY29$159.4M$154.7M – $163.8M$0.96$0.92 – $0.991
FY30$196.1M$190.2M – $201.4M$1.14$1.10 – $1.181

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.0.7×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.79%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.+6.7%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.+122.3%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatLow float · 29.8M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today5.1% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β3.185-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.FilingActive offeringA shelf registration (S-3 / S-3ASR / S-1) or prospectus supplement (424B*) was filed in the last 90 days — the company is registered to (or actively) issuing new shares. Dilution risk.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

SellMay 14Chris SiuCFO2.1K sh$222KSellMay 13Howard T SlayenDirector6.8K sh$714KSellApr 22Alistair N SporckVP Contactor Business Unit2.0K sh$187KSellApr 22Rhea J PosedelDirector17.7K sh$1.8MSellApr 21Alberto SalamoneEVP, PPBI BUSINESS15.0K sh$1.4MSellApr 21Scott Geoffrey GatesDirector60.0K sh$5.7MSellApr 21Rhea J PosedelDirector8.8K sh$844KSellApr 21Vernon RogersExec VP of Sales & Mktg.6.5K sh$610KSellApr 20Alberto SalamoneEVP, PPBI BUSINESS15.0K sh$1.3MSellApr 20Vernon RogersExec VP of Sales & Mktg.5.0K sh$450K
1–10 of 26
+ 21 other (17 inkinds · 3 gifts · 1 exempt) in window

See when $AEHR insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
  • Cluster-buy detection when multiple insiders pile in at once
  • 30 / 60 / 180-day windows so you can spot building conviction
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SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

8-KMaterial agreementApr 88-K — Item 1.01: Material agreement
AI summary

AEHR entered into a equity distribution agreement (8-K Item 1.01, dated 2026-04-08). Size: approximately $60,000,000. Material definitive agreement — investors should review the full exhibit for covenants, conditions, and use of proceeds.

424B5Prospectus supplement (offering)Apr 8424B5
AI summary

AEHR filed a 424B5 prospectus supplement dated 2026-04-08, representing an active capital markets transaction. Priced at $52.16 per share. This represents immediate dilution to existing shareholders.

8-KCharter amendmentApr 78-K — Item 2.02: Earnings release · Item 5.03: Charter amendment
AI summary

AEHR reported third quarter ended February 27, 2026. A copy of the financial results (8-K Item 2.02). Investors should review the full earnings press release and any management guidance for forward outlook.

+ 7 other (3 13Gs · 2 10-Qs · 1 routine 8-K · 1 earnings 8-K) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?marketbeat.com·1d agoAehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?marketbeat.com·5d agoWhy Aehr Test Systems Stock Jumped 18% on Wednesdayfool.com·7d agoAehr Receives Follow-On Order From Major Silicon Photonics Customer for Fully Automated Wafer-Level Burn-In System for Hyperscale Data Center Optical Interconnectaccessnewswire.com·7d agoAehr Test Systems: A Brilliant Order Book Wrapped In A Brutal Multipleseekingalpha.com·8d ago

In themes

Explore the broader themes this ticker is being talked about under.

Best PerformersSemiconductor OnshoringAdvanced Packaging & AI InterconnectAI Power Delivery

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Voices on X · top 15 · last 7 days

TickerTalks is a research tool, not financial advice. We surface social-attention data; we do not make stock recommendations. Past attention is not predictive of future price movements.

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