<SEC-DOCUMENT>0001535264-25-000027.txt : 20250507
<SEC-HEADER>0001535264-25-000027.hdr.sgml : 20250507
<ACCEPTANCE-DATETIME>20250507144158
ACCESSION NUMBER:		0001535264-25-000027
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250507
DATE AS OF CHANGE:		20250507

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AEHR TEST SYSTEMS
		CENTRAL INDEX KEY:			0001040470
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				942424084
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-52329
		FILM NUMBER:		25920783

	BUSINESS ADDRESS:	
		STREET 1:		400 KATO TERRACE
		CITY:			FREMONT
		STATE:			CA
		ZIP:			94539
		BUSINESS PHONE:		5106239400

	MAIL ADDRESS:	
		STREET 1:		400 KATO TERRACE
		CITY:			FREMONT
		STATE:			CA
		ZIP:			94539

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AWM Investment Company, Inc.
		CENTRAL INDEX KEY:			0001535264
		ORGANIZATION NAME:           	
		EIN:				113086452
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		527 MADISON AVENUE
		STREET 2:		SUITE 2600
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-319-6670

	MAIL ADDRESS:	
		STREET 1:		527 MADISON AVENUE
		STREET 2:		SUITE 2600
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001535264</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001040470</issuerCik>
        <issuerName>AEHR TEST SYSTEMS</issuerName>
        <issuerCusip>00760J108</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>400 KATO TERRACE</com:street1>
          <com:city>FREMONT</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>94539</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>AWM Investment Company, Inc.</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>1587936.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1587936.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1587936.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>5.3</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
      <comments>AWM Investment Company, Inc., a Delaware Corporation (AWM), is the investment adviser to Special Situations Fund III QP, L.P. (SSFQP), Special Situations Cayman Fund, L.P. (Cayman), Special Situations Technology Fund, L.P. (TECH) and Special Situations Technology Fund II, L.P. (TECH II), (SSFQP, Cayman, TECH and TECH II will hereafter be referred to as the Funds).  As the investment adviser to the Funds, AWM holds sole voting and investment power over 431,238 Shares of Common Stock of the Issuer (the Shares) held by SSFQP, 125,152 Shares held by Cayman, 173,397 Shares held by TECH and 858,149 Shares held by TECH II. </comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>AEHR TEST SYSTEMS</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>400 KATO TERRACE, FREMONT, CALIFORNIA, 94539</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Item 2(a).  Name of Person Filing:

The person filing this report is AWM Investment Company, Inc., a Delaware corporation (AWM), which is the investment adviser to Special Situations Cayman Fund, L.P., a Cayman Islands Limited Partnership, Special Situations Fund III QP, L.P., a Delaware limited partnership, Special Situations Technology Fund, L.P., a Delaware limited partnership and Special Situations Technology Fund II, L.P., a Delaware limited partnership.  The principal business of each Fund is to invest in equity and equity-related securities and other securities of any kind or nature.

David M. Greenhouse (Greenhouse) and Adam C. Stettner (Stettner) are members of: SSCayman, L.L.C., a Delaware limited liability company (SSCAY), the general partner of CAYMAN. Greenhouse and Stettner are members of MGP Advisers Limited Partnership, a Delaware limited partnership (MGP), the general partner of SSFQP and SST Advisers, L.L.C., a Delaware limited liability company (SSTA), the general partner of TECH and TECH II. Greenhouse and Stettner are also controlling principals of AWM.

</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>527 Madison Avenue, Suite 2600
New York, NY 10022</principalBusinessOfficeOrResidenceAddress>
        <citizenship>AWM is a Delaware Corporation</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>1,587,936</amountBeneficiallyOwned>
        <classPercent>5.3</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole voting over 431,238 Shares of Common Stock of the Issuer (the Shares) held by SSFQP, 125,152 Shares held by Cayman, 173,397 Shares held by TECH and 858,149 Shares held by TECH II.  Greenhouse and Stettner are members of SSCAY, the general partner of CAYMAN. Greenhouse and Stettner are members of MGP, the general partner of SSFQP and SSTA, the general partner of TECH and TECH II. Greenhouse and Stettner are also controlling principals of AWM</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole investment power over 431,238 Shares of Common Stock of the Issuer (the Shares) held by SSFQP, 125,152 Shares held by Cayman, 173,397 Shares held by TECH and 858,149 Shares held by TECH II.  Greenhouse and Stettner are members of SSCAY, the general partner of CAYMAN. Greenhouse and Stettner are members of MGP, the general partner of SSFQP and SSTA, the general partner of TECH and TECH II. Greenhouse and Stettner are also controlling principals of AWM</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>AWM Investment Company, Inc.</reportingPersonName>
      <signatureDetails>
        <signature>Adam Stettner</signature>
        <title>Executive Vice President</title>
        <date>05/07/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
