Semiconductor equipment vendor Aehr Test Systems (AEHR) late Thursday beat Wall Street’s targets for its fiscal third quarter, thanks to strong demand for gear to test power chips for electric vehicles. Aehr stock rose in extended trading.

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The Fremont, Calif.-based company earned 16 cents a share on sales of $17.2 million in the quarter ended Feb. 28. Analysts polled by FactSet had expected Aehr earnings of 14 cents a share on sales of $16 million. In the year-earlier period, Aehr earned 14 cents a share on sales of $15.3 million.

In after-hours trading on the stock market today, Aehr stock rose 3.7% to 38.60. During the regular session Thursday, Aehr stock fell 1.7% to close at 37.22.

Earnings report details to follow.

Aehr makes semiconductor test and reliability qualification equipment. Its recent growth has come from systems for test and burn-in of silicon carbide, or SiC, power chips, mostly for electric vehicles. Burn-in is a stress test of a component to detect problems.

Aehr Stock Is On Two IBD Lists

Aehr stock has a best-possible IBD Composite Rating of 99, according to IBD Stock Checkup. That puts it in the top 1% of stocks based on key fundamental and technical measures over the past 12 months.

Further, Aehr stock is on the IBD 50 and IBD Tech Leaders stock lists.

On March 22, Aehr stock broke out of a fourth-stage consolidation pattern with a buy point of 37.67, according to IBD MarketSmith charts. It notched a record high of 40.69 the next day before pulling back.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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