Aehr Test Systems (AEHR)

Aehr Test Systems' stock price has experienced fluctuations influenced by its financial performance and market shifts. The stock gained 1.75% on January 13, 2026, and has seen a substantial increase of 81.39% over the past six months. However, shares fell by 12.1% in December due to investors moving away from stocks perceived as riskier plays in the AI theme. Aehr reported a net revenue decrease of 27% year-over-year and a non-GAAP net loss in its second-quarter fiscal 2026 earnings report, leading to a stock drop. Despite these challenges, Aehr reinstated its guidance for the second half of fiscal year 2026 and announced new Sonoma system orders, leading to a stock increase.

Demand for Aehr Test Systems' products and services is influenced by the cyclical nature of the semiconductor industry and the growth trajectories of its target markets. Historically, the company has seen strong demand driven by the silicon carbide (SiC) market, particularly for electric vehicle (EV) applications. The EV market has experienced a slowdown, leading to reduced growth in demand for SiC devices and impacting Aehr's revenue. Aehr is strategically diversifying its focus to mitigate reliance on a single market, anticipating strong demand from the Artificial Intelligence (AI) processor market.

Aehr Test Systems is a provider of test solutions for semiconductor devices, specializing in testing, burning-in, and stabilizing devices at various levels. Their product portfolio includes the FOX-P™ families of test and burn-in systems, along with related products like the FOX WaferPak™ Contactor. Aehr has expanded its offerings to include high-power packaged part reliability/burn-in test solutions through the acquisition of Incal Technology, Inc. Aehr's products serve critical applications in industries such as automotive, mobile, photonics, artificial intelligence, computing, and telecommunications infrastructure.

Aehr Test Systems is headquartered in Fremont, California, USA, and has a global operational presence with operations spanning the US, China, Germany, Japan, and Taiwan. The company has installed thousands of its systems worldwide, indicating a broad international reach.

Aehr Test Systems' brand reputation has been tied to its financial performance and strategic market positioning. The company is recognized as a leader in wafer-level testing equipment, particularly for silicon carbide (SiC) devices used in electric vehicles (EVs). The slowdown in the EV market has impacted Aehr's revenue and market perception. Aehr is actively diversifying its market and customer base, with a strong focus on the rapidly growing Artificial Intelligence (AI) processor market. Strategic partnerships and the introduction of innovative testing solutions are positively influencing its reputation and investor sentiment.

Aehr Test Systems has a diverse ownership structure, with significant institutional and individual holdings. As of September 2025, institutional owners held 71.0% of the company's total shares outstanding. Major institutional owners include Fmr LLC, Vanguard Group Inc, and BlackRock, Inc. Individual insider ownership stands at approximately 5.8% of the company. The largest individual shareholder is Robert R. Anderson, followed by John M. Schneider. There was a significant insider sale in October 2025, when Independent Director Fariba Danesh divested a portion of her shares.