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24H | Aehr Test Systems Soars over 29% After Swinging to 4Q Profit; SK Hynix Falls 4% After a 27% Rally

Tiger Newspress08:00

Shares of Aehr Test Systems rose over 29% in overnight trading after the semiconductor equipment manufacturer swung to a profit in its fiscal fourth quarter.

Aehr reported net income of $1.4 million, or 4 cents a share in the quarter ended on May 29, compared with a loss of $2.9 million, or 10 cents a share, in the same quarter a year earlier.

Revenue rose nearly 35% to $18.8 million, topping analyst expectations for $18.7 million.

Chief Executive Gayn Erickson said significant bookings, revenue diversification and growing demand across AI processors, silicon photonics and power semiconductors drove growth last fiscal year.

SK Hynix fell 4% in overnight trading. The ADRs advanced 27% on Tuesday, more than offsetting a 9.3% decline from the prior session, which was influenced by a significant selloff in South Korea that affected US trading. The premium for SK Hynix ADRs compared to their shares listed in Korea has surged beyond 50%.

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