Shares of Aehr Test Systems surged 38.12% Wednesday morning, climbing to $99.46 as of 10:09 a.m. EDT, after the semiconductor test equipment maker reported fiscal fourth-quarter results that topped Wall Street estimates and issued fiscal 2027 revenue guidance that far exceeded analyst expectations.

The stock's gain of $27.45 on the day reflects investor enthusiasm following Tuesday's earnings release, in which the Fremont, California-based company detailed a dramatic acceleration in bookings tied to artificial intelligence infrastructure demand, alongside a full-year revenue forecast that implies significant growth over the coming fiscal year.

Guidance Well Above Analyst Expectations

Aehr forecast fiscal 2027 revenue of $130 million to $150 million, dramatically higher than the analyst consensus estimate of $85.13 million heading into the report. The outlook implies revenue growth of roughly 2.6 to 3 times compared with fiscal 2026, a scale of projected expansion that helped drive Wednesday's sharp rally in the stock.

Management indicated that the guidance could move even higher if additional customer orders are secured, pointing to the company's record backlog as support for that potential upside. Aehr also said it does not anticipate manufacturing capacity constraints even if revenue reaches the top end of its guidance range, and forecast a non-GAAP pre-tax margin of 18% to 22% for fiscal 2027.

Fourth-Quarter Bookings Surge

The company's fourth-quarter results showed a dramatic increase in new business. Bookings jumped more than fivefold to $60.7 million, compared with $11.1 million during the same period a year earlier, driven by demand for the company's Sonoma and FOX burn-in systems, WaferPaks, module boards, and testing applications tied to AI........

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