Rhea J. Posedel, a director on the board of Aehr Test Systems (NASDAQ: AEHR), completed a sale of 13,998 shares of common stock on February 13, 2026. The shares traded at $30.0151 each, producing proceeds of $420,151, according to a Form 4 filed with the U.S. Securities and Exchange Commission.
Following the transaction, Posedel's direct ownership stands at 71,163 shares - a total that explicitly includes shares subject to unvested restricted stock units. In addition to those directly held shares, Posedel indirectly owns 456,979 shares that are held in trust.
Company financials and operational developments
In recent corporate disclosures, Aehr Test Systems reported its results for the second quarter of fiscal year 2026. The company recorded a decline in revenue and posted a net loss for the quarter. Management highlighted that the firm continues to operate in a competitive semiconductor testing equipment market.
Despite the top-line contraction and the loss, Aehr secured a meaningful production order for its Sonoma systems from a leading hyperscale customer. The order is intended for use with next-generation AI processors, underscoring the company’s active role in AI processor applications.
Analyst updates and backlog
Craig-Hallum revised its price target on Aehr Test Systems to $21.00 from $24.00 while maintaining a Hold rating, citing a weaker revenue outlook for the second half of the fiscal year. The company itself lowered its revenue expectations to a range of $25 million to $30 million, which falls short of Craig-Hallum’s prior estimate.
William Blair reiterated a Market Perform rating, noting progress on AI wafer-level burn-in evaluations, but also observing that those improvements have not fully offset declines in silicon carbide-related revenue. Aehr reported a current backlog of $18.3 million, with quarter-end backlog recorded at $11.8 million.
Context and takeaway
The insider sale, recorded via Form 4, coincides with a period of mixed operational signals for Aehr Test Systems: a down quarter in revenue and a net loss on one hand, and a significant production order tied to AI processors on the other. Analyst adjustments and the noted backlog figures provide additional data points for market participants assessing the company’s near-term prospects.