BUZZ-AEHR shares surge after reporting record quarterly revenue

November 3 - ** Shares of semiconductor testing equipment manufacturer AEHR Test Systems AEHR.N rose 20.2% to $61.7

** Reports state that first-quarter revenue reached $33 million, a record high, three times the revenue of the same period last year

** The company also reported a profit of $7.2 million, whereas it had a loss of $2.1 million in the first quarter last year

** Full-year fiscal 2027 (FY27) revenue outlook (link) has been raised to $150 million from the previous forecast of $130 million to $150 million

** CEO Gayn Erickson said the order backlog is “quite substantial”

** Jefferies has cut its price target from $175 to $140, but reiterated its “Buy” rating

** The brokerage considers the FY27 revenue forecast “rather conservative”

** The average rating from six analysts is “Buy”, with three giving a “Strong Buy” recommendation; the median price target is $120—data compiled by LSEG

** Including the gains for the day, the stock has more than tripled so far this year

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