13 High Growth Semiconductor Stocks That Are Profitable in 2024

3. Aehr Test Systems (NASDAQ:AEHR)

TTM P/E Ratio: 22.33

3-Yr. Average Revenue Growth rate: 42.84%

Number of Q4 2023 Hedge Fund Shareholders: 21

Aehr Test Systems (NASDAQ:AEHR) is a semiconductor test equipment provider that also sells sensors and other products. With a market cap of just $335 million, it is one of the smallest semiconductor stocks on our list. Craig Hallum and William Blair both downgraded the stock in March 2024. The former cut the share rating to Hold from Buy and reduced the price target to $12 from $25. The latter reduced the share rating to Market Perform from Outperform.

Insider Monkey’s database of 933 hedge funds shows that 21 had bought a stake in Aehr Test Systems (NASDAQ:AEHR) as 2023 ended. One of Aehr Test Systems (NASDAQ:AEHR)’s largest hedge fund stakeholders is Andrew Weiss’ Weiss Asset Management as it holds $14.4 million worth of shares.

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