Semiconductor equipment vendor Aehr Test Systems (AEHR) late Thursday beat Wall Street’s targets for its fiscal first quarter but kept its outlook unchanged for the full year. Aehr stock fell in extended trading.
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The Fremont, Calif.-based company earned an adjusted 18 cents a share on sales of $20.6 million in the quarter ended Aug. 31. Analysts polled by FactSet had expected Aehr earnings of 16 cents a share on sales of $19.2 million. In the year-earlier period, Aehr earned 5 cents a share on sales of $10.7 million.
In after-hours trading on the stock market today, Aehr stock dropped 9.7% to 39.94. During the regular session Thursday, Aehr stock slid 2.1% to close at 44.21.
Earnings report details to follow.
Aehr Stock Is In Cup-With-Handle Base
Aehr makes semiconductor test and reliability qualification equipment. Its recent growth has come from systems for test and burn-in of silicon-carbide power chips, mostly for electric vehicles. Burn-in is a stress test of a component to detect problems.
Aehr has formed a cup-with-handle base with a buy point of 53.05, according to IBD MarketSmith charts.
Further, Aehr stock is on the IBD Tech Leaders list.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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