Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up – Here’s What Happened

Aehr Test Systems (NASDAQ:AEHR) gapped up prior to trading on Friday . The stock had previously closed at $76.87, but opened at $84.22. Aehr Test Systems shares last traded at $77.5510, with a volume of 565,845 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AEHR shares. Weiss Ratings lowered shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday. Freedom Capital raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Craig Hallum reaffirmed a “buy” rating and set a $125.00 price target on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Zacks Research upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $110.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $117.50.

Aehr Test Systems Stock Up 4.8%

The stock has a market cap of $2.63 billion, a PE ratio of -335.20 and a beta of 3.17. The firm has a 50 day moving average price of $91.61 and a 200 day moving average price of $65.52.

Insiders Place Their Bets

In other Aehr Test Systems news, Director Howard T. Slayen sold 6,819 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $104.73, for a total transaction of $714,153.87. Following the transaction, the director directly owned 169,709 shares in the company, valued at $17,773,623.57. This represents a 3.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aehr Test Systems

Several large investors have recently modified their holdings of AEHR. Vanguard Group Inc. increased its holdings in Aehr Test Systems by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,337,433 shares of the semiconductor company’s stock valued at $47,193,000 after buying an additional 49,243 shares during the period. Wellington Management Group LLP lifted its holdings 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 worth $16,771,000 after buying an additional 469,400 shares during the period. Geode Capital Management LLC lifted its holdings in Aehr Test Systems by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 685,694 shares of the semiconductor company’s stock worth $13,846,000 after buying an additional 5,591 shares during the period. Halter Ferguson Financial Inc. boosted its position in 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 valued at $12,965,000 after acquiring an additional 189,117 shares in the last quarter. Finally, State Street Corp boosted its position in Aehr Test Systems by 3.7% during the 4th quarter. State Street Corp now owns 624,085 shares of the semiconductor company’s stock valued at $12,600,000 after acquiring an additional 21,982 shares in the last quarter. Institutional investors own 69.69% of the company’s stock.

About Aehr Test Systems

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.