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Aehr Test Systems (AEHR) Surges 24.0%: Is This an Indication of Further Gains?

Zacks Equity Research
·2-min read

Aehr Test Systems (AEHR) shares soared 24% in the last trading session to close at $15.39. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.3% loss over the past four weeks.

Aehr Test Systems extended its rally, driven by the strong preliminary results for its fiscal 2024. The preliminary fiscal 2024 revenues and net income exceeded the management's previous guidance. Strength in wafer level test and burn-in of silicon carbide power semiconductors used in electric vehicles, drove the results primarily.

This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -52.2%. Revenues are expected to be $15.38 million, down 30.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Aehr Test Systems, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AEHR going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Aehr Test Systems is a member of the Zacks Electronics - Measuring Instruments industry. One other stock in the same industry, Keysight (KEYS), finished the last trading session 1.1% higher at $137.52. KEYS has returned -0.1% over the past month.

Keysight's consensus EPS estimate for the upcoming report has changed -1.9% over the past month to $1.35. Compared to the company's year-ago EPS, this represents a change of -38.4%. Keysight currently boasts a Zacks Rank of #4 (Sell).

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Aehr Test Systems (AEHR) : Free Stock Analysis Report

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Zacks Investment Research