Aehr Test Systems
Builds semiconductor test and burn-in systems for wafers, die, modules, and packaged devices.
Something off on this page? Send us feedback.
Profile
Builds and sells FOX wafer-level and singulated-die test systems, WaferPak contactors, DiePak carriers, and Sonoma, Tahoe, and Echo packaged-device burn-in systems, plus fixtures and services. Revenue comes from semiconductor manufacturers and test providers worldwide, with a small customer group accounting for most sales.
Builds semiconductor reliability-test and burn-in equipment spanning full wafers, singulated die and modules, and packaged devices. The FOX-P family combines FOX-XP, FOX-NP, and FOX-CP systems with custom WaferPak contactors and DiePak carriers; Sonoma, Tahoe, and Echo cover ultra-high-, medium-, and low-power package-level burn-in.
Uses modular electrical, thermal, and automation capabilities for both engineering qualification and high-volume production. Full-wafer contact and parallel device monitoring screen defects before packaging, while custom interfaces, fixtures, upgrades, spares, and services extend revenue around installed systems.
Sells worldwide to semiconductor manufacturers, contract assemblers, electronics manufacturers, and test-service providers, with most revenue delivered outside the United States. Demand spans AI processors, silicon photonics, power semiconductors, sensors, and memory. A small customer group accounts for most sales, while production relies on outside suppliers and subcontractors.
Company facts
Categories
Key statistics
Year to date +265% · Average volume (30d) 2.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Jefferies | Initiate | Buy | $175 | ||
| Jul 15, 2026 | Craig-Hallum | Reiterate | Buy | $68 | $125 | |
| Jul 15, 2026 | Lake Street | Reiterate | Buy | $56 | $110 | |
| Apr 8, 2026 | Lake Street | Target | $29 | $56 | ||
| Apr 8, 2026 | Craig-Hallum | Target | $21 | $68 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 14, 2026Q4 FY26 | −$0.01 | $0.11 | +1,200.0% | $18.7M | $18.8M | +0.6% | +21.91% |
| Apr 7, 2026Q3 FY26 | −$0.08 | −$0.05 | +37.5% | $10.8M | $10.3M | −5.0% | +25.69% |
| Jan 8, 2026Q2 FY26 | −$0.08 | −$0.04 | +50.0% | $11.6M | $9.9M | −14.5% | +15.95% |
| Oct 6, 2025Q1 FY26 | $0.01 | $0.01 | 0.0% | $11.1M | $11.0M | −1.3% | −17.38% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $18.3M | $14.1M | $11.0M | $9.9M | $10.3M | $19.8M | |
| Gross profit | $7.2M | $4.3M | $3.7M | $2.5M | $3.4M | $8.0M | |
| Operating income | −$1.1M | −$2.3M | −$4.1M | −$4.9M | −$4.2M | −$993.0K | |
| Net income | −$643.0K | −$2.9M | −$2.1M | −$3.2M | −$3.2M | $1.4M | |
| Diluted EPS | −$0.02 | −$0.10 | −$0.07 | −$0.11 | −$0.10 | $0.05 | |
| Gross margin | 39.2% | 30.3% | 33.9% | 25.7% | 32.7% | 40.6% | |
| Operating margin | -6.1% | -16.6% | -37.1% | -49.2% | -41.0% | -5.0% |
Fiscal years (4-quarter sums)FY22 $50.8M · FY23 $65.0M · FY24 $66.2M · FY25 $59.0M · FY26 $50.9M
Balance sheet, May 29, 2026Cash & short-term investments $116.4M · Total debt $9.9M · Total assets $246.7M · Shareholders' equity $219.5M
Dividends
No dividends on record.
Ownership
Shares outstanding 32.62M · Float 30.80M · 94.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 2.66M | 8.15% | 13F | Aug 7, 2026 |
| Jane Street Group, LLC | 1.65M | 5.10% | 13G | Jul 29, 2026 |
| Vanguard Capital Management LLC | 1.32M | 4.05% | 13F | Aug 13, 2026 |
| D. E. Shaw & Co., Inc. | 1.18M | 3.61% | 13F | Aug 14, 2026 |
| Two Sigma Investments, LP | 1.16M | 3.57% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Vernon Rogers | officer: Exec VP of Sales & Mktg. | −3,994 | $143.77 |
| Aug 14, 2026 | Vernon Rogers | officer: Exec VP of Sales & Mktg. | −2,000 | $136.50 |
| Aug 14, 2026 | Howard T. Slayen | director: Director | −5,700 | $133.03 |
| Aug 14, 2026 | Rhea J. Posedel | director: Director | −5,973 | $140.00 |
| Aug 13, 2026 | Alberto Salamone | officer: EVP, PPBI BUSINESS | −9,672 | $127.72 |
Peers
- Teradyne
Large ATE rival in AI, memory, photonics, and system-level test
- Cohu
Packaged-test rival in handlers, thermal control, ATE, and contactors
- FormFactor
Wafer-test consumables rival in probe cards and probe systems
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Aehr Test Systems | $81.30 | +0.64% | $2.64B | — | 98.8 | 51.8 | +33.4% |
| Teradyne | $356.69 | +0.55% | $55.50B | 48.7 | 36.2 | 12.4 | +103.9% |
| Cohu | $49.21 | +2.54% | $2.26B | — | 32.8 | 4.3 | +38.4% |
| FormFactor | $101.76 | −0.01% | $7.93B | 70.1 | 29.4 | 8.8 | +31.9% |
| Median | 59.4 | 32.8 | 8.8 | +38.4% |