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Aehr Test Systems (AEHR)

Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic, optical and memory integrated circuits and has over 2,500 systems installed worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, incremental capacity needs, and new opportunities for Aehr Test products in package, wafer level, and singulated die/module level test. Aehr Test has developed and introduced several innovative products, including the ABTSTM and FOX-PTM families of test and burn-in systems and FOX WaferPakTM Aligner, FOX-XP WaferPak Contactor, FOX DiePak® Carrier and FOX DiePak Loader. The ABTS system is used in production and qualification testing of packaged parts for both lower power and higher power logic devices as well as all common types of memory devices. The FOX-XP and FOX-NP systems are full wafer contact and singulated die/module test and burn-in systems used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers, systems-on-a-chip, and integrated optical devices. The FOX-CP system is a new low-cost single-wafer compact test and reliability verification solution for logic, memory and photonic devices and the newest addition to the FOX-P product family. The WaferPak contactor contains a unique full wafer probe card capable of testing wafers up to 300mm that enables IC manufacturers to perform test and burn-in of full wafers on Aehr Test FOX systems. The DiePak Carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of both bare die and modules.

Company profile

Ticker
AEHR
Exchange
Website
CEO
Gayn Erickson
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Aehr Test Systems GmbH • Aehr Test Systems Philippines Inc. ...
IRS number
942424084

AEHR stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

13 Apr 22
12 Aug 22
31 Dec 22
Quarter (USD) Feb 22 Nov 21 Aug 21 May 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) May 21 May 20 May 19 May 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 32.1M 32.1M 32.1M 32.1M 32.1M 32.1M
Cash burn (monthly) 1M (no burn) (no burn) (no burn) 978.67K (no burn)
Cash used (since last report) 5.54M n/a n/a n/a 5.4M n/a
Cash remaining 26.56M n/a n/a n/a 26.7M n/a
Runway (months of cash) 26.5 n/a n/a n/a 27.3 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Aug 22 Geoffrey Gates Scott Common Stock Gift Dispose G No No 0 6,778 0 165,368
10 Aug 22 Slayen Howard T Common Stock Sell Dispose S No No 17.5002 10,000 175K 190,762
9 Aug 22 Spink Kenneth B. Common Stock Sell Dispose S Yes Yes 16.23 17,707 287.38K 154,673
8 Aug 22 Spink Kenneth B. Common Stock Sell Dispose S Yes Yes 15.67 6,819 106.85K 172,380
4 Aug 22 Slayen Howard T Common Stock Sell Dispose S No No 14.7514 10,000 147.51K 200,762
2 Aug 22 Slayen Howard T Common Stock Sell Dispose S No No 12.5 10,000 125K 210,762
40.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 80 75 +6.7%
Opened positions 25 39 -35.9%
Closed positions 20 7 +185.7%
Increased positions 33 16 +106.3%
Reduced positions 11 17 -35.3%
13F shares Current Prev Q Change
Total value 3.52B 5.69B -38.2%
Total shares 10.82M 11.1M -2.5%
Total puts 254.8K 494.8K -48.5%
Total calls 416.1K 1.14M -63.5%
Total put/call ratio 0.6 0.4 +41.3%
Largest owners Shares Value Change
FMR 1.59M $16.14M -14.1%
AWM Investment 1.41M $14.34M +23.2%
Vanguard 1.21M $12.27M +5.6%
Renaissance Technologies 766.8K $7.79M +49.4%
BLK Blackrock 378.12K $3.84M +0.9%
Ameritas Advisory Services 364.55K $3.7M +76.9%
Two Sigma Investments 343.05K $3.49M +329.0%
Capital Fund Management 335.52K $3.41B +49.6%
Royce & Associates 310.46K $3.15M +18.7%
SAMG Silvercrest Asset Management 265.93K $2.7M +46.3%
Largest transactions Shares Bought/sold Change
Collaborative Holdings Management 0 -1.53M EXIT
Susquehanna International 197.37K -355.26K -64.3%
Arrowstreet Capital, Limited Partnership 45.6K -292.52K -86.5%
AWM Investment 1.41M +265.24K +23.2%
Two Sigma Investments 343.05K +263.09K +329.0%
FMR 1.59M -260.33K -14.1%
Renaissance Technologies 766.8K +253.7K +49.4%
EAM Investors 0 -230.15K EXIT
Citadel Advisors 200.65K +189.53K +1705.5%
Essex Investment Management 168.02K +168.02K NEW

Financial report summary

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Competition
TeradyneFormFactorAdvantest
Risks
  • The effects of the COVID-19 pandemic have disrupted, and may continue to significantly disrupt, our operations, including our ability to manufacture and supply products and perform research and development activities, and our customers’ usage of our products, all of which have had and may continue to have a material and adverse effect on our business, future revenues and financial condition. We are unable to predict the extent to which the pandemic and related impacts will continue to adversely impact our business operations, financial performance, results of operations and the achievement of our strategic objectives.
  • We generate a large portion of our sales from a small number of customers. If we were to lose one or more of our large customers, operating results could suffer dramatically.
  • The semiconductor equipment industry is intensely competitive. In each of the markets we serve, we face competition from established competitors and potential new entrants, many of which have greater financial, engineering, manufacturing and marketing resources than us.
  • We rely on increasing market acceptance for our FOX system, and we may not be successful in attracting new customers or maintaining our existing customers.
  • A substantial portion of our net sales is generated by relatively small volume, high value transactions.
  • We may experience increased costs associated with new product introductions.
  • The Company is exposed to cybersecurity threats or incidents.
  • Our industry is subject to rapid technological change and our ability to remain competitive depends on our ability to introduce new products in a timely manner.
  • A decrease in customer device failure rates may result in a decrease in demand for our products.
  • Future changes in semiconductor technologies may make our products obsolete.
  • Supply chain issues, including a shortage of critical components or contract manufacturing capacity, could result in a delay in fulfillment of customer orders, or an increase in costs, resulting in an adverse impact on our business and operating results.
  • We sell our products and services worldwide, and our business is subject to risks inherent in conducting business activities in geographic regions outside of the United States.
  • We purchase materials from suppliers worldwide, which subjects the Company to increased risk.
  • Our dependence on subcontractors and sole source suppliers may prevent us from delivering our products on a timely basis and expose us to intellectual property infringement.
  • Periodic economic and semiconductor industry downturns could negatively affect our business, results of operations and financial condition.
  • If we are not able to reduce our operating expenses sufficiently during periods of weak revenue, or if we utilize significant amounts of cash to support operating losses, we may erode our cash resources and may not have sufficient cash to operate our business.
  • We may be subject to litigation relating to intellectual property infringement which would be time-consuming, expensive and a distraction from our business.
  • While we believe we have complied with all applicable environmental laws, our failure to do so could adversely affect our business as a result of having to pay substantial amounts in damages or fees.
  • Our stock price may fluctuate.
  • We depend on our key personnel and our success depends on our ability to attract and retain talented employees.
  • If we fail to maintain effective internal control over financial reporting in the future, the accuracy and timing of our financial reporting may be adversely affected.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: demand, legacy, order, stronger, wrote
Removed: minimize, mortgage, negative, past, private, substantial, sufficient, utility