Aehr Test Systems (AEHR)
Builds semiconductor test and burn-in systems for wafers, die, modules, and packaged devices.
Something off on this page? Send us feedback.
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
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 10, 2026 | Oppenheimer | Initiate | Rating: —Target: — | Target: $120 |
| Aug 13, 2026 | Jefferies | Initiate | Rating: —Target: — | Target: $175 |
| Jul 15, 2026 | Craig-Hallum | Reiterate | Rating: —Target: $68 | Target: $125 |
| Jul 15, 2026 | Lake Street | Reiterate | Rating: —Target: $56 | Target: $110 |
| Apr 8, 2026 | Lake Street | Target | Target: $29 | Target: $56 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, May 29, 2026Cash & short-term investments $116.4M · Total debt $9.9M · Total assets $246.7M · Shareholders' equity $219.5M
- Revenue
- $19.8M
- Operating income
- −$993.0K
- Net income
- $1.4M
No dividends on record.
| Institutions | ≈ 70.10% | 22.87M shares | |
|---|---|---|---|
| 291 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 5.07% | 1.65M shares | |
| 14 holders · as of Sep 3, 2026 | |||
| Other | ≈ 24.83% | 8.10M shares | |
| remainder | |||
32.62M company shares as of Aug 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.15% | 2.66M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.05% | 1.32M | as of Jun 30, 2026 |
D. E. Shaw & Co., Inc.Institution | 3.61% | 1.18M | as of Jun 30, 2026 |
Two Sigma Investments, LPInstitution | 3.57% | 1.16M | as of Jun 30, 2026 |
FMR LLCInstitution | 3.09% | 1.01M | as of Jun 30, 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 |
- 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
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Aehr Test Systems | $98.09 | +1.20% | $3.16B | — | 171.2 | 62.1 | +33.4% |
| Teradyne | $395.12 | +3.56% | $59.65B | 52.3 | 40.3 | 13.4 | +103.9% |
| Cohu | $63.27 | +4.38% | $2.86B | — | 43.2 | 5.5 | +38.4% |
| FormFactor | $123.92 | +3.86% | $9.30B | 82.3 | 35.8 | 10.3 | +31.9% |
| Median | 67.3 | 40.3 | 10.3 | +38.4% |