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Shares of Aehr Test Systems  (AEHR) - Get Free Report jumped on Monday after the company said it received a $10.8 million order from its lead silicon-carbide test and burn-in customer. 

A company statement identified the client as a leading Fortune 500  semiconductor-device supplier with a focus on the automotive market. 

"This customer continues to forecast orders for multiple additional FOX systems and WaferPak Contactors this fiscal year and a significant number of systems and WaferPaks over the next several years due to electric-vehicle semiconductor test and burn-in demand," Chief Executive Gayn Erickson said.

The company expects the products to be shipped within the next six months. 

Shares of Aehr Test Systems at last check jumped 28% to $4.37. The stock on Monday has traded up as much as 49% at a 52-week high $5.08.

On July 15 the company reported revenue for fiscal 2021 ended May 31 fell 26% to $16.6 million. For the year Aehr narrowed its loss to 9 cents a share from 12 cents a share in fiscal 2020. 

The company swung to fourth quarter profit of 2 cents a share from a year-earlier loss of 3 cents. 

The Fremont, Calif., company provides test systems for burning-in and testing logic, optical and memory integrated circuits. Aehr has installed over 2,500 systems worldwide. 

The power semiconductor market for electric vehicles is expected to triple between 2020 and 2026, growing at a 26% compound annual growth rate to $5.6 billion, Aehr said, citing Yole research.

Total electric vehicle sales are expected to grow at a 29% clip annually between 2020 and 2025, according to a Deloitte forecast.