Aehr Test Systems (NASDAQ:AEHR) Stock Hits New High After The Big News: Now What?
Aehr Test Systems (NASDAQ:AEHR) shares on July 19 surged by 30% in morning hours as it received $10.8 million single purchase order from the lead silicon carbide test and burn in for electric vehicles. The firm added that the order is for number of FOX-XP systems and complete sets of WaferPak Contactors in order to meet augmenting production capacity requirements.
The firm also confirmed that it is a Fortune 500 supplier of semiconductor deevices and expects both the FOX systems and WaferPaks to transport in next six months.
FOX-XP system is available with multiple WaferPak Contactors with capabilities of functional test and burn-in/cycling of integrated devices such as silicone carbide power devices, silicon photonics and optical devices, 2D and 3D sensors, flash memories, Gallium Nitride amongst other leading-edge ICs, before being assembled into single or multi-die stacked packages.
Aehr CEO Gayn Erickson said that the follow-on order for extra FOX-XP systems and WaferPaksare due to working closely with lead customer for achieving test requirements as well as validation of the FOX-P platform and WaferPak full wafer contactors.
He added that more orders are forecasted for the current fiscal due to electric vehicle semiconductor test and burn-in demand. With a market capitalisation of $80 million and a single order more than 10% of the same represents a significant increase in its top-line revenue.
Market Reaction:
As of 11:52, AEHR stock soared 30% at $4.42 with more than 70.35 million shares, compared to its average volume of 1.66 million shares. The stock has moved within a range of $4.2900 – 5.0800 after opening the trade at $4.93. Over the past 52-week, the stock has been trading within a range of $1.1500 – 5.0800.
