Craig-Hallum downgrades Aehr Test to Hold on weak pre-released Q3, guidance

As previously reported, Craig-Hallum downgraded Aehr Test Systems to Hold from Buy with a price target of $12, down from $25, after the company negatively pre-released its Q3 results and lowered its full year 2024 expectations. This is now the second quarter in a row the company has lowered its 2024 expectations, the firm notes. The company is seeing a soft semiconductor capital spending environment in automotive, and the shift in electric vehicle introductions and ramps impacting its bookings and revenue forecasts more than management previously anticipated, Craig-Hallum adds.