Maybe things are looking up.
Fremont, CA (April 30, 2015) - Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and burn-in equipment, today announced it has received an order from a new customer in China for immediate shipment of an ABTS burn-in and test system for high temperature operating life (HTOL) testing of devices for reliability characterization. The system is expected to ship within the next month.
Gayn Erickson, President and CEO of Aehr Test Systems, said, “We are very excited to announce this initial order from another new customer in China, which continues our expansion and success in the China market. Aehr Test has now been selected by eight customers in China to perform their HTOL and burn-in processes with our advanced ABTS burn-in and test platform. As China accelerates its growth in semiconductor manufacturing and test capacity, we look forward to continued expansion in this market.”
Guess I should have bought some of this back on Mar. 5 at about $4.00. It's now almost at $5.00. Oh well, if we can ever get the Fox-1P out the door and some additional customers looking at the Fox-XP, this will make a run also. I added shares (again) this week based on the recent order and the QVT investment. AEHR now has the cash to at least see if they can get the job done.
They must have filled some of the positions, or perhaps decided they weren't needed. There are now 38 open position. Still quite a few if business was really bad. Will be interested to see the financial results later today.
Probably another fairly small deal following the Envance deal last week, but at least they aren't just standing around waiting for higher corn prices.
American Vanguard Corporation and DuPont Crop Protection today announced that AMVAC C.V., the Netherlands-based international subsidiary of American Vanguard, has acquired the DuPont global Bromacil herbicide business assets. Financial terms of the agreement were not disclosed.
FWIW, this guy has been pushing AEHR for the last few days. He has 9,124 followers and is quite positive for the moment. Of course, he could turn on a dime.
Mr.Incredible @IncredibleTrade · 3h3 hours ago
$GPRO ready for the next target 46.63 as mentioned earlier. $AEHR next target 2.68 and 2.96 - moves SUPER FAST from that level..
Mr.Incredible @IncredibleTrade · 4h4 hours ago
***New Trade*** Bought $AEHR - This is heading to 3.50 - $4 in coming sessions..Low float with upside potential..
I'm not sure what to make of it either. Vintage Albany Acquisition, LLC (Brian Kahn) owns 40% of it and Steel Partners owns 20%, so maybe they have enough pull to assure the lenders.
Looks like Gabelli tendered about 110,000 shares also. So, between the insiders and Gabelli (another insider?), that pretty much took care of the TO. Not sure what that means going forward. Gabelli is down to 16.2% from a little over 19% before.
I could be wrong, but just reading the product descriptions, it sounds like the Fox-15 is geared toward automotive ICs, while the Fox-XP is geared towards the new 3D memory products. Nice to see the orders though. If we could get an equivalent order for the Fox-1P in the next month or two, I would feel pretty safe.
I also noticed that Fejes sold 30,000 shares back to the company during the tender offer. Since they only bought about 160,000 shares, he was one of the biggest sellers. Belardi also sold 3,529 shares in the TO.
FWIW, I saw this from Insider Monkey. Nothing new really.
As a new filing with the Securities and Exchange Commission showed, Daniel Gold‘s QVT Financial has initiated a passive stake in Aehr Test Systems (NASDAQ:AEHR). The position contains more than 1.41 million shares, which represent 9.99% of the company’s outstanding stock. The investor does not hold the shares directly, but via a convertible note with a value of $4.1 million. Moreover, Aehr Test and QVT’s agreement also involves a line of credit worth $2.0 million.
Aehr Test Systems (NASDAQ:AEHR) is a nano-cap company (market cap $27 million) that develops and markets systems for burning-in, testing and reliability screening of complex logic and memory devices. The company’s stock is down by 16% over the last 52 weeks as Aehr Test Systems reported a decline in revenue in the last several quarters and turned to a loss from a profit. For the first quarter of 2015, Aehr Test Systems (NASDAQ:AEHR)’s revenue dropped to around $2 million from $6 million a year ago and it reported a loss of $0.14 per share, versus a profit of $0.02 in the first quarter of 2014. Due to the company’s small size, it’s not very popular among the funds we track. In fact, only two funds out of over 700 reported long positions in Aehr Test Systems (NASDAQ:AEHR) as of the end of 2014, Jim Tarantino and Chris Galvin’s Westerly Capital Management and Jim Simons‘ Renaissance Technologies, holding 712,000 shares and 99,600 shares.
I don't know why it continues to surprise me, but it sure seems odd that the share price dropped 10% a couple days ago and now we get another earnings warning today. Hmmmm
From this mornings PR for next weeks earnings report.
Eric Wintemute, Chairman and CEO of American Vanguard commented: “In the first quarter of 2015, we continued to experience soft market conditions, primarily in the Midwest U.S. corn market. This situation has been cited by some of our industry peers and commented on by many expert observers of the U.S. agriculture sector. Lower crop commodity prices, that inevitably squeeze grower profitability, prompted purchasing restraint throughout the agricultural input distribution channel. Current conditions affected the procurement of equipment, seed, fertilizer, and crop protection products.” Mr. Wintemute concluded: “As a result, we will be reporting first quarter revenues that are approximately 18% below our prior year first quarter levels. Thanks to our significant efforts to manage our manufacturing costs and operating expenses, we expect to post earnings that will be approximately breakeven. We remain confident that our significant participation in other non-corn markets, our disciplined cost/expense control and our ability to pursue several growth initiatives, such as our recent acquisition of the Nemacur® product line in the E.U., will improve our future operating and financial performance.”
Looks like AVD has increased it's stake in Envance from 60% to 86.77% from a recent news article. AVD paid $500,000 to TyraTech for the increased stake in Envance.
Life sciences firm TyraTech (LON:TYR) is to receive around US$500,000 in cash after rejigging its Envance agricultural products joint venture arrangements.
With the strong demand for TyraTech's Vamousse head lice treatments, the company has opted to focus more on its core markets of personal care, where Vamousse is it flagship range, and animal health, where it has a range of anti-parasitic products.
Envance Technologies was formed in partnership with American Vanguard (NYSE:AVD) subsidiary AMVAC, to develop and commercialise a range of innovative pest control solutions for global consumer, commercial, and agriculture pest control markets.
Under the new joint venture (JV) terms, TyraTech will receive cash in repayment of loans and the transfer of some equity in Envance, which it will re-invest into working capital and geographical expansion of its Vamousse branded products.
Under the new arrangements, AMVAC's share of the JV has grown to 86.77% from 60% and, conversely, TyraTech's share has fallen to 13.33% from 40%.
"Over the past twelve months, having validated our entry into the personal care market with the successful launch of our Vamousse branded products in both the USA and the UK, our investment and growth pathway will be through geographic expansion of our current products, commercialisation of products in development, and continued development of our pipeline across both the personal care and animal health markets," said Bruno Jactel, chief executive officer of TyraTech.
"With our sharpened strategic focus in these two markets, I am very pleased that together with TyraTech's strategic investor, AMVAC, we were able to achieve our goal of strengthening Envance as the organisation best suited to develop and commercialise TyraTech's technology for the agriculture, household, and lawn and gar
Pretty good article in the Technology Week column in Barron's this week. AEHR may still have a chance to get part of the testing market for these chips. Below is an excerpt from the article. I posted the full article on the Investor Village AEHR message board.
Our gut feeling is that the memory-chip industry has improved. In future quarters, we’ll know for sure. SANDISK, MICRON, AND SAMSUNG are all working on the next big leap in flash, called 3D NAND. Basically, the circuits of a chip will stand upright, rather than lie flat, thus making it three-dimensional. This is a monumental engineering accomplishment, years in the making, that will bring far greater speed and efficiency to computing devices, from smartphones to servers.
On the one hand, new three-dimensional flash chips, with greater complexity, might help the whole industry by making memory chips less of a commodity. But they might also bring more supply to market, which would be bad for prices. Micron and Samsung appear to be making good progress on 3-D, prompting Drexel’s Whittington to write, “With Intel -Micron [INTC] about to ramp what appears a disruptive 3D NAND line, [and] Samsung also in the wings, SanDisk’s prices are already under the gun.”
Ha. They added AVD to the Strong Sell list again today. Whatever.
Saw an interesting post from Applied Machines on Facebook and Twitter.
Hurco Companies Inc. - Pictures of the Hurco Assembly line in Indianapolis, IN - USA. Hurco is increasing the production of Machines they build here in the USA!!!!! Building Machine Tools where the technology is developed. With their Headquarters in Indianapolis, it only makes sense to build the machines where Gerald Roch and the late Edward Humston founded Hurco in 1968.
Hope you are right, but there is still quite a bit of overhead resistance between 13 and 13.50. I think it will take a decent earnings report and favorable forecast to get us through there. Earnings should be around May 2 or so.