Polen Capital Management 13F: Adds $5.8M to AEHR Stake

Polen Capital Management has significantly increased its investment in Aehr Test Systems, Inc. (NasdaqCM: AEHR). According to its latest Form 13F filing with the SEC on May 14, 2026, Polen Capital added 49,285 shares, boosting its holdings by 163.68% to a total of 79,396 shares. The value of this position is approximately $9.62 million.

What Changed in Polen Capital's Aehr Test Systems Position

Polen Capital's recent move saw its stake in Aehr Test Systems grow from 30,111 shares to 79,396 shares, an increase of 49,285 shares or 163.68%. This substantial addition shows a strong vote of confidence in the company's future prospects. The total value of Polen's holdings in Aehr Test Systems now stands at about $9.62 million.

Other Institutional Activity in Aehr Test Systems

Several other institutional investors have also been active in Aehr Test Systems. BlackRock, Inc. increased its holdings by 159,794 shares, ending with 2,286,899 shares valued at approximately $84.8 million. In contrast, FMR LLC reduced its stake by 365,281 shares, bringing its total down to 2,142,639 shares worth around $79.4 million. AWM Investment Company, Inc. added 57,200 shares, resulting in 1,593,971 shares valued at $59.1 million. Meanwhile, Price T Rowe Associates Inc /MD/ significantly increased its position by 1,314,967 shares to a total of 1,349,351 shares, valued at $50.0 million. Vanguard Capital Management LLC also made a substantial addition of 1,281,857 shares, bringing its total to the same number, valued at $47.5 million.

Aehr Test Systems, Inc. Stock Up 64.0%

Shares of Aehr Test Systems are currently trading at $121.15. The company has a market capitalization of about $3.64 billion and a forward P/E ratio of 772.53, indicating high investor expectations for future earnings. With a beta of 3.183, the stock is quite volatile. Over the past 52 weeks, the stock has ranged from a low of $10.89 to a high of $126.62. The stock's 50-day moving average is $91.13, while the 200-day moving average is $43.95. Aehr has a strong liquidity position with a current ratio of 10.97 and a quick ratio of 5.79, though its debt-to-equity ratio is 7.223.

Recent Earnings

Aehr Test Systems reported revenue of $45.26 million, although it experienced a revenue decline of 43.7%. The company is not currently profitable, with a net margin of -25.23% and a return on equity of -8.68%. Aehr Test Systems is expected to announce its next earnings on July 14, 2026.

Insider Buying and Selling at Aehr Test Systems, Inc.

Recent insider transactions at Aehr Test Systems include several sales. On June 3, 2026, Executive VP of R&D Didier Wimmers sold 332 shares at an average price of $114.59. CFO Chris Siu sold 350 shares at $93.62 on June 1, 2026, and 2,070 shares at $107.06 on May 14, 2026. Additionally, Howard Slayen sold 6,819 shares at $104.73 on May 13, 2026.

Analysts Set New Price Targets

While there have been no recent changes, analysts have maintained various ratings on Aehr Test Systems. Craig-Hallum maintained a 'hold' rating with a $21 target on January 9, 2026. The overall analyst consensus is a 'strong buy' with a mean target price of $63.67, based on three analyst opinions.

About Aehr Test Systems

Aehr Test Systems, Inc. is a technology company based in Fremont, California, specializing in semiconductor testing solutions. The company offers products that test, burn-in, and stabilize semiconductor devices in wafer, die, and package forms. Its systems are used in various applications, including silicon carbide power semiconductors and sensors for mobile devices. Founded in 1977, Aehr Test Systems serves clients in the United States, Asia, and Europe and is led by CEO Gayn Erickson.

Bottom Line

Polen Capital's recent increase in Aehr Test Systems shares reflects a strong confidence in the company's potential. Investors often keep an eye on such moves to gauge institutional sentiment. However, it's important to remember that 13F filings are backward-looking and may not represent current positions.