Aehr Test Systems (NASDAQ:AEHR) Shares Up 10.3% – Time to Buy?

Aehr Test Systems (NASDAQ:AEHR) shot up 10.3% during mid-day trading on Monday . The stock traded as high as $76.73 and last traded at $77.1740. Approximately 940,841 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 2,263,599 shares. The stock had previously closed at $69.96.

Analyst Ratings Changes

AEHR has been the subject of several research reports. Craig Hallum upgraded Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Wednesday, April 8th. Wall Street Zen raised Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings raised Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Finally, Lake Street Capital reissued a “buy” rating on shares of Aehr Test Systems in a report on Wednesday, April 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Aehr Test Systems presently has an average rating of “Hold” and an average target price of $68.00.

Aehr Test Systems Price Performance

The business’s 50-day moving average price is $97.34 and its two-hundred day moving average price is $58.12. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -198.47 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR) last announced its earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $10.31 million for the quarter, compared to analyst estimates of $10.85 million. Aehr Test Systems had a negative net margin of 25.23% and a negative return on equity of 7.15%. As a group, sell-side analysts forecast that Aehr Test Systems will post -0.31 earnings per share for the current year.

Insider Activity at Aehr Test Systems

In other news, CEO Gayn Erickson sold 96,036 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $70.58, for a total transaction of $6,778,220.88. Following the sale, the chief executive officer owned 197,723 shares in the company, valued at $13,955,289.34. This trade represents a 32.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Howard T. Slayen sold 25,000 shares of Aehr Test Systems stock in a transaction on Friday, April 17th. The shares were sold at an average price of $85.00, for a total value of $2,125,000.00. Following the completion of the sale, the director directly owned 178,328 shares of the company’s stock, valued at approximately $15,157,880. This represents a 12.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 375,005 shares of company stock worth $28,656,178. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of Aehr Test Systems by 262.7% in the first quarter. Royal Bank of Canada now owns 50,207 shares of the semiconductor company’s stock worth $365,000 after acquiring an additional 36,364 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Aehr Test Systems by 8.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,225 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 1,344 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Aehr Test Systems by 7.9% during the second quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 1,145 shares during the period. Legal & General Group Plc raised its stake in Aehr Test Systems by 110.8% during the second quarter. Legal & General Group Plc now owns 6,882 shares of the semiconductor company’s stock worth $89,000 after purchasing an additional 3,617 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Aehr Test Systems by 3.1% in the 2nd quarter. Rhumbline Advisers now owns 41,466 shares of the semiconductor company’s stock valued at $536,000 after purchasing an additional 1,254 shares during the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

Aehr Test Systems Company Profile

Aehr Test Systems develops, manufactures and sells semiconductor test and burn-in equipment used by device manufacturers to ensure quality and reliability of integrated circuits. Its products are designed for wafer-level reliability assessment, functional test and stress screening of memory devices, system-on-chips, optical components and power semiconductors. By focusing on wafer-level burn-in and testing processes, the company helps reduce cost and improve yield for high-volume semiconductor production.

The company’s product portfolio includes FOX series wafer probe test and burn-in systems as well as ABTS burn-in ovens.