Only just noticed that Intel is listed as a customer in the most recent investor presentation (July 2015) and had been added since the December presentation. Do you recall AEHR talking about this relationship on the calls? Wondering if this is in relation to 3d or not.
Delinquency rate 10.2%, should have clarified. Agreed, if Conn's is able to buy all shares at recent prices, which may be hard to do, they could accumulate up to 6.5M or around 20% as you said.
You may be right that the stock buyback may be a better use of cash from a near term shareholder value perspective, I wouldn't disagree. As I mentioned, the retirement of the senior notes is likely partially responsible for expanded credit facility as they would need to reduce debt...which also necessarily a bad thing. I wouldn't be surprised if they can borrow on the credit facility at rates lower than the senior notes, which would add shareholder value. The added facility may assist in ramping up the opening of more stores, making the facility a better use of capital structure than the notes.
Volume was particularly heavy the week of Sept 10-18, repurchase may have occurred that week when pricing was between 26 and 28.
Retirement of the senior notes may be part of the reason for the expanded credit facility.
Don't see any news on Sprouts. May be a reaction of the downgrade of Whole Foods this morning that caused Whole Foods to drop 5%+. Sprouts has higher leverage and P/E ratio, so is logical that it takes a more outsized hit. Looks like a good buying opportunity to me, but could be an indication of slower growth rate from increased competition in the future.