Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Here’s Why

Aehr Test Systems (NASDAQ:AEHR)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $72.32, but opened at $66.41. Aehr Test Systems shares last traded at $67.2090, with a volume of 299,612 shares traded.

Wall Street Analysts Forecast Growth

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

Aehr Test Systems Trading Up 1.4%

The business has a 50-day moving average price of $95.89 and a 200 day moving average price of $59.12. The stock has a market capitalization of $2.14 billion, a P/E ratio of -178.66 and a beta of 3.17.

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

Insider Transactions at Aehr Test Systems

In other Aehr Test Systems news, EVP Alberto Salamone sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $89.57, for a total transaction of $1,343,550.00. Following the sale, the executive vice president directly owned 63,025 shares of the company’s stock, valued at $5,645,149.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Alistair N. Sporck sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $93.50, for a total value of $187,000.00. Following the sale, the vice president owned 5,177 shares in the company, valued at approximately $484,049.50. This trade represents a 27.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 309,441 shares of company stock worth $24,130,018. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aehr Test Systems

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in Aehr Test Systems by 129.9% during the fourth quarter. Wellington Management Group LLP now owns 830,664 shares of the semiconductor company’s stock valued at $16,771,000 after acquiring an additional 469,400 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Aehr Test Systems by 1,137.2% in the 3rd quarter. Invesco Ltd. now owns 366,570 shares of the semiconductor company’s stock worth $11,037,000 after acquiring an additional 336,940 shares during the last quarter. Next Century Growth Investors LLC boosted its stake in shares of Aehr Test Systems by 99.9% during the 4th quarter. Next Century Growth Investors LLC now owns 552,506 shares of the semiconductor company’s stock worth $11,155,000 after purchasing an additional 276,160 shares during the period. Halter Ferguson Financial Inc. boosted its stake in shares of Aehr Test Systems by 41.7% during the 4th quarter. Halter Ferguson Financial Inc. now owns 642,129 shares of the semiconductor company’s stock worth $12,965,000 after purchasing an additional 189,117 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Aehr Test Systems by 1,321.9% during the 4th quarter. Squarepoint Ops LLC now owns 100,199 shares of the semiconductor company’s stock worth $2,023,000 after purchasing an additional 108,399 shares during the period. Institutional investors own 69.69% of the company’s stock.

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.