AEHR
TechnologyAehr Test Systems · Semiconductors · $3B
What is Aehr Test Systems?
Aehr Test Systems is a semiconductor equipment company specializing in burn-in and test systems for integrated circuits. Founded in 1997 and headquartered in Fremont, California, it serves IC manufacturers worldwide.
Aehr designs and sells systems that stress-test and burn-in logic, memory, and optical integrated circuits before they reach end products. Its equipment helps chipmakers identify early failures, improving reliability. Revenue comes from selling test systems and the consumable contactors and carriers that go with them.
Aehr Test Systems was incorporated in 1997 and operates out of Fremont, California.
- FOX-XP and FOX-NP wafer-level burn-in and test systems
- ABTS packaged-part burn-in systems for logic and memory
- WaferPak Contactor for full-wafer testing up to 300mm
- DiePak Carrier for bare-die and module burn-in
Is AEHR a Good Stock to Buy?
UQS Score rates AEHR as Poor overall.
Growth and Risk both register at a Neutral level, meaning the business is not in freefall and near-term volatility is not extreme relative to peers.
Quality and Moat both score Weak, pointing to limited competitive durability and below-average business fundamentals. Valuation is rated Elevated, adding further caution.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does AEHR pay dividends?
No — Aehr Test Systems does not currently pay a dividend.
Aehr Test Systems does not currently pay a dividend. As a smaller semiconductor equipment company, capital is directed toward product development and market expansion rather than shareholder distributions. Income-focused investors should factor this in.
When does AEHR report earnings?
Aehr Test Systems reports earnings on a quarterly cadence, typical for US-listed equities.
Results have reflected the cyclical nature of semiconductor equipment demand, with revenue sensitive to customer capex cycles. Pillar labels suggest growth trends are currently Neutral — neither accelerating strongly nor declining sharply.
For the most recent quarter's results, visit Aehr Test Systems' investor relations page directly.
AEHR Price History
+4065.3% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Aehr Test Systems?
Based on Aehr Test Systems's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
Frequently Asked Questions
What does Aehr Test Systems do?
Aehr Test Systems makes burn-in and test equipment for semiconductor manufacturers. Its systems stress-test logic, memory, and optical chips at the wafer and packaged-part level, helping chipmakers catch defects before products ship.
Does AEHR pay dividends?
No, AEHR does not pay a dividend. The company reinvests available capital into its product lines and business development rather than returning cash to shareholders through distributions.
When does AEHR report earnings?
Aehr Test Systems reports on a quarterly cadence. Specific upcoming dates are not covered by our data source — check the company's investor relations page for the current schedule.
Is AEHR a good stock to buy?
UQS Score rates AEHR as Poor, with Weak marks on Quality and Moat and an Elevated Valuation rating. That combination warrants careful scrutiny. The full pillar breakdown is available to Pro members at UQS Score.
Is AEHR overvalued?
The UQS Valuation pillar for AEHR is rated Elevated, suggesting the current price may not be well-supported by the underlying fundamentals. Investors should weigh this against the Weak Quality and Moat scores.
What is AEHR's market cap bracket?
AEHR is classified as a mid-cap stock. It occupies a niche within the semiconductor equipment space, sitting below the large integrated equipment vendors but above micro-cap peers.
Is AEHR a long-term quality investment?
From a long-term quality standpoint, AEHR's Weak Moat and Weak Quality pillar ratings raise questions about durable competitive advantage. Long-term investors typically look for stronger moat and quality profiles before committing capital.
What sector does AEHR belong to?
AEHR operates in the Technology sector, specifically within semiconductor capital equipment. Its systems support chipmakers across logic, memory, and photonic device categories.
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Pro Analysis
AEHR — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 22.9 | 4.4 | 21.0 | 44.8 | 47.3 | 3.0 | -1.1 |
| May 20, 2026 | 24.0 | 4.4 | 21.0 | 44.8 | 47.3 | 10.8 | +0.2 |
| May 19, 2026 | 23.8 | 4.4 | 21.0 | 44.8 | 47.3 | 9.5 | +1.3 |
| May 14, 2026 | 22.5 | 4.4 | 21.0 | 44.8 | 47.3 | 0.8 | -0.1 |
| May 13, 2026 | 22.6 | 4.4 | 21.0 | 44.8 | 47.3 | 1.0 | +0.1 |
| May 12, 2026 | 22.5 | 4.4 | 21.0 | 44.8 | 47.3 | 0.8 | -0.1 |
| May 11, 2026 | 22.6 | 4.4 | 21.0 | 44.8 | 47.3 | 0.8 | +1.2 |
| May 10, 2026 | 21.4 | 0.0 | 21.0 | 44.8 | 47.3 | 0.8 | -1.2 |
| May 9, 2026 | 22.6 | 4.4 | 21.0 | 44.8 | 47.3 | 0.8 | -0.4 |
| May 8, 2026 | 23.0 | 4.4 | 21.0 | 44.8 | 47.3 | 4.1 | +0.4 |
AEHR — Pillar Breakdown
Quality
— 4.4/100 (25%)Aehr Test Systems currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 44.8/100 (20%)Aehr Test Systems shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 47.3/100 (15%)Aehr Test Systems has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 3.0/100 (15%)Aehr Test Systems appears expensively valued relative to its fundamentals and growth prospects.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Moat
— 21/100 (25%)Aehr Test Systems operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for AEHR.
Score Composition
Financial Data
More Stock Analysis
How is the AEHR UQS Score Calculated?
The UQS (Unified Quality Score) for Aehr Test Systems is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Aehr Test Systems's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Aehr Test Systems is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.