As previously reported, William Blair analyst Jed Dorsheimer downgraded Aehr Test Systems (AEHR) to Market Perform from Outperform after the company preannounced a Q3 revenue miss and further reduced its FY24 outlook. The firm had been “hopeful” that the company had lowered guidance enough last quarter with the potential for upside from a multi-system order from STMicroelectronics (STM), but “unfortunately it was not low enough” and the purchase order from STMicro has “yet to materialize” and negative electric vehicle sentiment has caused pushouts with SiC customers, says the analyst, who cites reduced visibility for the downgrade.
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