Why Aehr Test Systems Plunged Today

Aehr Test Systems -6.00%
ON Semiconductor Corporation +1.20%

Aehr Test Systems




ON Semiconductor Corporation




Aehr Test Systems (NASDAQ:AEHR) shares are trading lower on Monday in sympathy with ON Semiconductor (NASDAQ:ON), which fell after reporting third-quarter results and issuing weak guidance.

What To Know: ON Semiconductor posted third-quarter earnings before the open of the market on Monday. The company reported quarterly earnings of $1.39 per share which beat the analyst consensus estimate of $1.34, a 4.14% decrease over earnings of $1.45 per share from the same period last year.

The company reported quarterly sales of $2.18 billion which beat the analyst consensus estimate of $2.15 billion, a 0.54% decrease over sales of $2.19 billion from the same period last year.

ON Semiconductor issued fourth-quarter revenue guidance of between $1.950 billion and $2.050 billion, versus the $2.18 billion estimate. Earnings per share is guided to be between $1.13 and $1.27, versus the estimate of $1.36.

Aehr Test Systems shares fell in sympathy with ON Semiconductor, on unusually high volume. According to data from Benzinga Pro, the stock experienced above-average trading volume of 5.70 million shares on Monday compared to its average volume of 995,030.

Related Link: SoFi Stock Is Headed Higher, Says Goldman Sachs: Q3 Earnings First Take

AEHR Price Action: Shares of AEHR were down 19.8% at $23.88 at the time of publication, according to Benzinga Pro.

Image by Willfried Wende from Pixabay

Every question you ask will be answered
Scan the QR code to contact us
Also you can contact us via