Symbols / AEHR Stock $97.36 +3.88% Aehr Test Systems, Inc.

Technology • Semiconductor Equipment & Materials • United States • NCM
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About

Aehr Test Systems, Inc. provides test solutions for testing, burning-in, and semiconductor devices in wafer level, singulated die, package part form, and installed systems in the United States, Asia, and Europe. Its product portfolio includes FOX-XP and FOX-NP systems that are full wafer contact and singulated die/module test and burn-in systems that test, burn-in, and stabilize range of devices, including silicon carbide-based and other power semiconductors, 2D, and 3D sensors used in mobile phones, tablets and other computing devices, memory semiconductors, processors, microcontrollers, systems-on-a-chip, and photonics and integrated optical devices. The company offers FOX-CP system, a low-cost single-wafer compact test solution for logic, memory, and photonic devices; and FOX WaferPak Contactor, a full wafer contactor capable of testing wafers up to 300mm that enables integrated circuit manufacturers to perform test, burn-in, and stabilization of full wafers on the FOX-P systems. In addition, it provides FOX DiePak Carrier, which allows testing, burning in, and stabilization of singulated bare die and modules; and FOX DiePak Loader. The company was incorporated in 1977 and is headquartered in Fremont, California.

Stock Fundamentals
Scroll to Statements
Market Cap 3.06B Enterprise Value 3.04B Income -11.42M Sales 45.26M Book/sh 4.48 Cash/sh 1.17
Dividend Yield — Payout 0.00% Employees 136 IPO — P/E — Forward P/E 649.07
PEG 0.90 P/S 67.67 P/B 21.71 P/C — EV/EBITDA -254.48 EV/Sales 67.07
Quick Ratio 5.79 Current Ratio 10.97 Debt/Eq 7.22 LT Debt/Eq — EPS (ttm) -0.38 EPS next Y 0.15
EPS Growth — Revenue Growth -43.70% Earnings 2026-04-07 ROA -6.10% ROE -8.68% ROIC —
Gross Margin 30.72% Oper. Margin -41.01% Profit Margin -25.23% Shs Outstand 31.45M Shs Float 29.54M Short Float 13.96%
Short Ratio 2.42 Short Interest — 52W High 101.99 52W Low 8.02 Beta 2.29 Avg Volume 2.48M
Volume 3.70M Target Price $63.67 Recom Strong_buy Prev Close $93.72 Price $97.36 Change 3.88%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$63.67
Mean price target
2. Current target
$97.36
Latest analyst target
3. DCF / Fair value
$-4.26
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$97.36
Low
$56.00
High
$68.00
Mean
$63.67

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-05 main Freedom Broker Hold → Hold $38
2026-03-02 up William Blair Market Perform → Outperform —
2026-02-13 main Freedom Broker Hold → Hold $24
2026-01-13 main Freedom Broker Hold → Hold $23
2026-01-09 main Craig-Hallum Hold → Hold $21
2025-12-17 init Lake Street — → Buy $29
2025-10-14 main Freedom Broker Hold → Hold $24
2024-03-26 down Craig-Hallum Buy → Hold $12
2024-03-25 down William Blair Outperform → Market Perform —
2022-10-17 init William Blair — → Outperform —
2016-10-10 init Craig-Hallum — → Buy —
News
RSS: Latest AEHR news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-22 SPORCK ALISTAIR N Officer — 2,000 $93.50 $186,990
2026-04-22 POSEDEL RHEA J Director — 17,719 $95.00 $1,768,880
2026-04-21 SCOTT GEOFFREY GATES Director — 60,000 $91.00 $5,660,000
2026-04-21 SALAMONE ALBERTO Officer — 30,000 $89.57 $2,761,950
2026-04-21 ROGERS VERNON Officer — 6,486 $94.09 $610,270
2026-04-21 POSEDEL RHEA J Director — 8,787 $96.02 $843,757
2026-04-20 ROGERS VERNON Officer — 2,431 $90.00 $218,790
2026-04-20 ROGERS VERNON Officer — 5,000 $90.00 $450,000
2026-04-20 POSEDEL RHEA J Director — 7,500 $88.09 $660,675
2026-04-17 SLAYEN HOWARD T Director — 25,000 $85.00 $2,125,000
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-05-31 2024-05-31 2023-05-31 2022-05-31
Total Revenue
58.97
-10.95%
66.22
+1.94%
64.96
+27.80%
50.83
Operating Revenue
58.97
-10.95%
66.22
+1.94%
64.96
+27.80%
50.83
Cost Of Revenue
35.03
+4.04%
33.67
+4.53%
32.22
+18.59%
27.16
Reconciled Cost Of Revenue
35.03
+4.04%
33.67
+4.53%
32.22
+18.59%
27.16
Gross Profit
23.93
-26.46%
32.54
-0.62%
32.75
+38.37%
23.66
Operating Expense
28.75
+27.96%
22.46
+15.97%
19.37
+22.10%
15.87
Research And Development
10.46
+20.00%
8.72
+22.22%
7.13
+22.62%
5.82
Selling General And Administration
18.28
+33.01%
13.75
+12.33%
12.24
+21.80%
10.05
Total Expenses
63.78
+13.61%
56.14
+8.83%
51.59
+19.89%
43.03
Operating Income
-4.81
-147.76%
10.08
-24.65%
13.38
+71.47%
7.80
Total Operating Income As Reported
-5.68
-156.33%
10.08
-24.65%
13.38
+71.47%
7.80
EBITDA
-1.43
-112.46%
11.44
-20.95%
14.47
+63.64%
8.85
Normalized EBITDA
-0.56
-104.90%
11.44
-20.95%
14.47
+102.52%
7.15
Reconciled Depreciation
3.39
+148.57%
1.36
+24.02%
1.10
+5.17%
1.04
EBIT
-4.81
-147.76%
10.08
-24.65%
13.38
+71.47%
7.80
Total Unusual Items
-0.86
0.00
0.00
-100.00%
1.70
Total Unusual Items Excluding Goodwill
-0.86
0.00
0.00
-100.00%
1.70
Special Income Charges
-0.86
0.00
0.00
-100.00%
1.70
Other Special Charges
—
—
—
-1.70
Restructuring And Mergern Acquisition
0.86
0.00
0.00
0.00
Net Income
-3.91
-111.79%
33.16
+127.77%
14.56
+54.04%
9.45
Pretax Income
-4.29
-134.44%
12.46
-14.77%
14.62
+53.20%
9.54
Net Non Operating Interest Income Expense
1.40
-41.33%
2.39
+91.81%
1.25
+9476.92%
0.01
Net Interest Income
1.40
-41.33%
2.39
+91.81%
1.25
+9476.92%
0.01
Interest Income Non Operating
1.40
-41.33%
2.39
+91.81%
1.25
+9476.92%
0.01
Interest Income
1.40
-41.33%
2.39
+91.81%
1.25
+9476.92%
0.01
Other Income Expense
-0.88
-10887.50%
-0.01
-166.67%
-0.00
-100.17%
1.73
Other Non Operating Income Expenses
-0.01
-87.50%
-0.01
-166.67%
-0.00
-110.00%
0.03
Gain On Sale Of Security
—
—
-0.00
-109.38%
0.03
Gain On Sale Of Business
—
—
0.00
0.00
Tax Provision
-0.38
+98.16%
-20.70
-34596.67%
0.06
-34.07%
0.09
Tax Rate For Calcs
0.00
-57.62%
0.00
+5150.00%
0.00
-63.64%
0.00
Tax Effect Of Unusual Items
-0.08
0.00
0.00
-100.00%
0.02
Net Income Including Noncontrolling Interests
-3.91
-111.79%
33.16
+127.77%
14.56
+54.04%
9.45
Net Income From Continuing Operation Net Minority Interest
-3.91
-111.79%
33.16
+127.77%
14.56
+54.04%
9.45
Net Income From Continuing And Discontinued Operation
-3.91
-111.79%
33.16
+127.77%
14.56
+54.04%
9.45
Net Income Continuous Operations
-3.91
-111.79%
33.16
+127.77%
14.56
+54.04%
9.45
Minority Interests
—
—
—
—
Normalized Income
-3.12
-109.42%
33.16
+127.77%
14.56
+87.33%
7.77
Net Income Common Stockholders
-3.91
-111.79%
33.16
+127.77%
14.56
+54.04%
9.45
Diluted EPS
—
1.12
+124.00%
0.50
+47.06%
0.34
Basic EPS
—
1.15
+121.15%
0.52
+44.44%
0.36
Basic Average Shares
—
28.82
+3.72%
27.79
+6.81%
26.01
Diluted Average Shares
—
29.62
+1.38%
29.21
+5.19%
27.77
Diluted NI Availto Com Stockholders
-3.91
-111.79%
33.16
+127.77%
14.56
+54.04%
9.45
Gain On Sale Of PPE
—
—
—
—
Total Other Finance Cost
—
—
-1.25
-9476.92%
-0.01
Line Item Trend 2025-05-31 2024-05-31 2023-05-31 2022-05-31
Total Assets
148.51
+16.10%
127.91
+30.33%
98.14
+57.46%
62.33
Current Assets
88.78
-9.27%
97.85
+9.90%
89.03
+48.37%
60.01
Cash Cash Equivalents And Short Term Investments
24.33
-50.51%
49.16
+2.61%
47.91
+52.16%
31.48
Cash And Cash Equivalents
24.33
-50.51%
49.16
+63.57%
30.05
-4.54%
31.48
Cash Equivalents
21.26
-51.82%
44.13
+64.22%
26.87
-5.81%
28.53
Cash Financial
3.07
-38.99%
5.03
+58.05%
3.18
+7.68%
2.96
Other Short Term Investments
—
0.00
-100.00%
17.85
0.00
Receivables
14.19
+44.87%
9.80
-40.97%
16.59
+29.05%
12.86
Accounts Receivable
14.19
+44.87%
9.80
-40.97%
16.59
+29.05%
12.86
Gross Accounts Receivable
—
—
16.59
+29.05%
12.86
Allowance For Doubtful Accounts Receivable
—
—
0.00
0.00
Inventory
42.00
+12.08%
37.47
+56.73%
23.91
+58.85%
15.05
Raw Materials
30.64
+36.74%
22.41
+40.48%
15.95
+67.80%
9.51
Work In Process
9.26
-31.85%
13.59
+135.83%
5.76
+5.55%
5.46
Finished Goods
2.09
+42.47%
1.47
-33.04%
2.19
+2539.76%
0.08
Prepaid Assets
—
—
—
0.61
Restricted Cash
0.20
—
—
—
Other Current Assets
8.06
+466.48%
1.42
+129.15%
0.62
+1.31%
0.61
Total Non Current Assets
59.73
+98.68%
30.06
+229.90%
9.11
+292.63%
2.32
Net PPE
18.57
+106.63%
8.99
+1.18%
8.88
+318.96%
2.12
Gross PPE
24.04
+72.27%
13.95
-15.85%
16.58
+76.78%
9.38
Accumulated Depreciation
-5.47
-10.09%
-4.97
+35.51%
-7.70
-6.06%
-7.26
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
5.18
+18.87%
4.36
-29.20%
6.15
+30.59%
4.71
Construction In Progress
0.36
-43.26%
0.64
—
—
Other Properties
12.50
+63.13%
7.66
-16.00%
9.12
+165.15%
3.44
Leases
6.00
+362.17%
1.30
-0.92%
1.31
+6.50%
1.23
Goodwill And Other Intangible Assets
21.50
0.00
—
—
Goodwill
10.72
0.00
—
—
Other Intangible Assets
10.78
—
—
—
Non Current Deferred Assets
19.11
-7.99%
20.77
0.00
—
Non Current Deferred Taxes Assets
19.11
-7.99%
20.77
0.00
—
Other Non Current Assets
0.55
+79.61%
0.30
+31.60%
0.23
+14.93%
0.20
Total Liabilities Net Minority Interest
25.64
+57.10%
16.32
-27.61%
22.54
+98.81%
11.34
Current Liabilities
15.64
+48.82%
10.51
-35.57%
16.31
+48.07%
11.01
Payables And Accrued Expenses
12.32
+45.56%
8.46
-36.59%
13.35
+80.51%
7.39
Payables
8.49
+59.23%
5.33
-42.08%
9.21
+118.77%
4.21
Accounts Payable
6.73
+26.18%
5.33
-42.08%
9.21
+119.45%
4.20
Other Payable
1.76
—
—
—
Current Accrued Expenses
3.83
+22.29%
3.13
-24.40%
4.14
+30.00%
3.19
Total Tax Payable
—
—
0.02
+69.23%
0.01
Current Debt And Capital Lease Obligation
0.91
+95.48%
0.47
+239.42%
0.14
-82.75%
0.79
Current Debt
—
—
—
—
Other Current Borrowings
—
—
—
—
Current Capital Lease Obligation
0.91
+95.48%
0.47
+239.42%
0.14
-82.75%
0.79
Current Deferred Liabilities
1.98
+47.29%
1.34
-52.34%
2.82
+16.85%
2.42
Current Deferred Revenue
1.98
+47.29%
1.34
-52.34%
2.82
+16.85%
2.42
Total Non Current Liabilities Net Minority Interest
10.00
+72.07%
5.81
-6.80%
6.24
+1818.46%
0.33
Long Term Debt And Capital Lease Obligation
9.92
+73.08%
5.73
-6.99%
6.16
+2807.08%
0.21
Long Term Capital Lease Obligation
9.92
+73.08%
5.73
-6.99%
6.16
+2807.08%
0.21
Non Current Deferred Liabilities
0.04
-12.20%
0.04
+32.26%
0.03
-55.07%
0.07
Non Current Deferred Revenue
0.04
-12.20%
0.04
+32.26%
0.03
-55.07%
0.07
Other Non Current Liabilities
0.04
+10.53%
0.04
-7.32%
0.04
-6.82%
0.04
Stockholders Equity
122.87
+10.11%
111.59
+47.61%
75.60
+48.27%
50.99
Common Stock Equity
122.87
+10.11%
111.59
+47.61%
75.60
+48.27%
50.99
Capital Stock
0.30
+3.46%
0.29
+1.40%
0.28
+5.17%
0.27
Common Stock
0.30
+3.46%
0.29
+1.40%
0.28
+5.17%
0.27
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
29.88
+3.04%
29.00
+1.60%
28.54
+5.23%
27.12
Ordinary Shares Number
29.88
+3.04%
29.00
+1.60%
28.54
+5.23%
27.12
Additional Paid In Capital
145.76
+11.60%
130.61
+2.22%
127.78
+8.57%
117.69
Retained Earnings
-23.06
-20.42%
-19.15
+63.39%
-52.31
+21.77%
-66.86
Gains Losses Not Affecting Retained Earnings
-0.13
+20.25%
-0.16
-1.94%
-0.15
-47.62%
-0.10
Minority Interest
—
—
—
0.00
Other Equity Adjustments
-0.13
+20.25%
-0.16
-1.94%
-0.15
-47.62%
-0.10
Total Equity Gross Minority Interest
122.87
+10.11%
111.59
+47.61%
75.60
+48.27%
50.99
Total Capitalization
122.87
+10.11%
111.59
+47.61%
75.60
+48.27%
50.99
Working Capital
73.14
-16.26%
87.34
+20.10%
72.72
+48.43%
48.99
Invested Capital
122.87
+10.11%
111.59
+47.61%
75.60
+48.27%
50.99
Total Debt
10.83
+74.76%
6.20
-1.63%
6.30
+526.24%
1.01
Capital Lease Obligations
10.83
+74.76%
6.20
-1.63%
6.30
+526.24%
1.01
Net Tangible Assets
101.37
-9.16%
111.59
+47.61%
75.60
+48.27%
50.99
Tangible Book Value
101.37
-9.16%
111.59
+47.61%
75.60
+48.27%
50.99
Current Provisions
0.43
+82.91%
0.23
-12.36%
0.27
-34.88%
0.41
Interest Payable
—
—
—
0.00
Line Of Credit
—
—
—
0.00
Line Item Trend 2025-05-31 2024-05-31 2023-05-31 2022-05-31
Operating Cash Flow
-7.40
-521.41%
1.76
-82.46%
10.01
+563.86%
1.51
Cash Flow From Continuing Operating Activities
-7.40
-521.41%
1.76
-82.46%
10.01
+563.86%
1.51
Net Income From Continuing Operations
-3.91
-111.79%
33.16
+127.77%
14.56
+54.04%
9.45
Depreciation Amortization Depletion
3.39
+148.57%
1.36
+24.02%
1.10
+5.17%
1.04
Depreciation
3.39
+148.57%
1.36
+24.02%
1.10
+5.17%
1.04
Depreciation And Amortization
3.39
+148.57%
1.36
+24.02%
1.10
+5.17%
1.04
Other Non Cash Items
—
—
0.09
+279.59%
-0.05
Stock Based Compensation
5.16
+105.00%
2.52
-8.37%
2.75
-8.58%
3.01
Provisionand Write Offof Assets
0.00
0.00
-100.00%
0.02
0.00
Asset Impairment Charge
0.58
0.00
0.00
—
Deferred Tax
-0.42
+97.97%
-20.77
0.00
0.00
Deferred Income Tax
-0.42
+97.97%
-20.77
0.00
0.00
Operating Gains Losses
—
—
—
-1.70
Gain Loss On Sale Of PPE
—
—
—
0.00
Change In Working Capital
-12.20
+15.13%
-14.38
-83.37%
-7.84
+23.84%
-10.29
Change In Receivables
-3.04
-144.73%
6.79
+279.25%
-3.79
+51.65%
-7.83
Changes In Account Receivables
-3.04
-144.73%
6.79
+279.25%
-3.79
+51.65%
-7.83
Change In Inventory
-2.44
+82.22%
-13.73
-45.02%
-9.47
-41.88%
-6.67
Change In Prepaid Assets
-5.01
-472.80%
-0.88
-3225.00%
0.03
+139.44%
-0.07
Change In Accrued Expense
-0.38
+52.27%
-0.79
-250.00%
0.53
-63.93%
1.46
Change In Payable
-0.78
+79.91%
-3.88
-176.74%
5.05
+270.93%
1.36
Change In Account Payable
-0.71
+81.65%
-3.89
-177.14%
5.04
+271.98%
1.36
Change In Other Working Capital
0.14
+109.73%
-1.47
-498.10%
0.37
-83.20%
2.20
Change In Other Current Liabilities
-0.70
-65.25%
-0.42
+24.60%
-0.56
+23.98%
-0.74
Investing Cash Flow
-16.07
-193.14%
17.25
+192.47%
-18.66
-4384.62%
-0.42
Cash Flow From Continuing Investing Activities
-16.07
-193.14%
17.25
+192.47%
-18.66
-4384.62%
-0.42
Net PPE Purchase And Sale
-4.99
-566.49%
-0.75
+45.01%
-1.36
-227.40%
-0.42
Purchase Of PPE
-4.99
-566.49%
-0.75
+45.01%
-1.36
-227.40%
-0.42
Capital Expenditure
-4.99
-566.49%
-0.75
+45.01%
-1.36
-227.40%
-0.42
Net Investment Purchase And Sale
0.00
-100.00%
18.00
+204.08%
-17.29
0.00
Purchase Of Investment
0.00
0.00
+100.00%
-33.29
0.00
Sale Of Investment
0.00
-100.00%
18.00
+12.50%
16.00
0.00
Net Business Purchase And Sale
-11.07
0.00
0.00
—
Purchase Of Business
-11.07
0.00
0.00
—
Gain Loss On Sale Of Business
—
—
0.00
0.00
Financing Cash Flow
0.62
+349.64%
0.14
-98.10%
7.32
-71.58%
25.76
Cash Flow From Continuing Financing Activities
0.62
+349.64%
0.14
-98.10%
7.32
-71.58%
25.76
Net Issuance Payments Of Debt
—
0.00
0.00
+100.00%
-1.40
Issuance Of Debt
—
—
—
0.00
Repayment Of Debt
—
0.00
0.00
+100.00%
-1.40
Long Term Debt Issuance
—
—
—
0.00
Long Term Debt Payments
—
0.00
0.00
+100.00%
-1.40
Net Long Term Debt Issuance
—
0.00
0.00
+100.00%
-1.40
Net Short Term Debt Issuance
—
—
0.00
+100.00%
-1.40
Net Common Stock Issuance
0.00
+100.00%
-0.07
-101.06%
6.82
-71.62%
24.03
Common Stock Payments
—
-0.07
+96.50%
-2.06
-380.19%
-0.43
Repurchase Of Capital Stock
—
-0.07
+96.50%
-2.06
-380.19%
-0.43
Proceeds From Stock Option Exercised
1.41
-22.03%
1.81
-29.47%
2.56
-28.03%
3.56
Net Other Financing Charges
-0.78
+50.88%
-1.60
+22.52%
-2.06
-380.19%
-0.43
Changes In Cash
-22.84
-219.30%
19.15
+1547.17%
-1.32
-104.93%
26.85
Effect Of Exchange Rate Changes
0.01
+131.71%
-0.04
-10.81%
-0.04
-175.51%
0.05
Beginning Cash Position
49.31
+63.25%
30.20
-4.31%
31.56
+577.05%
4.66
End Cash Position
26.48
-46.30%
49.31
+63.25%
30.20
-4.31%
31.56
Free Cash Flow
-12.39
-1330.59%
1.01
-88.36%
8.65
+692.03%
1.09
Interest Paid Supplemental Data
0.00
0.00
-100.00%
0.01
+25.00%
0.01
Income Tax Paid Supplemental Data
0.10
+11.11%
0.09
+328.57%
0.02
+425.00%
0.00
Amortization Of Securities
0.00
+100.00%
-0.13
+77.43%
-0.58
0.00
Change In Income Tax Payable
-0.07
-564.29%
0.01
+75.00%
0.01
+33.33%
0.01
Change In Tax Payable
-0.07
-564.29%
0.01
+75.00%
0.01
+33.33%
0.01
Common Stock Issuance
0.00
—
6.82
-71.62%
24.03
Issuance Of Capital Stock
0.00
—
6.82
-71.62%
24.03
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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