Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – What’s Next?

Shares of Aehr Test Systems (NASDAQ:AEHR) gapped down before the market opened on Monday . The stock had previously closed at $79.98, but opened at $75.61. Aehr Test Systems shares last traded at $82.5350, with a volume of 279,131 shares trading hands.

Wall Street Analysts Forecast Growth

AEHR has been the subject of several analyst reports. Freedom Capital raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Craig Hallum reiterated a “buy” rating and issued a $125.00 price target on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Zacks Research raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Weiss Ratings downgraded shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $117.50.

Aehr Test Systems Stock Up 11.1%

The company has a fifty day moving average price of $91.31 and a 200-day moving average price of $65.90. The stock has a market capitalization of $2.90 billion, a P/E ratio of -370.00 and a beta of 3.10.

Insider Transactions at Aehr Test Systems

In other news, Director Howard T. Slayen sold 6,819 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $104.73, for a total transaction of $714,153.87. Following the sale, the director directly owned 169,709 shares of the company’s stock, 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 insiders.

Institutional Investors Weigh In On Aehr Test Systems

Several institutional investors have recently modified their holdings of AEHR. Penn Capital Management Company LLC purchased a new position in Aehr Test Systems during the second quarter worth $14,476,000. Pictet Asset Management Holding SA raised its stake in shares of Aehr Test Systems by 187.7% during the second quarter. Pictet Asset Management Holding SA now owns 16,654 shares of the semiconductor company’s stock valued at $1,600,000 after acquiring an additional 10,866 shares in the last quarter. Ethic Inc. bought a new stake in Aehr Test Systems during the 2nd quarter valued at $215,000. Compagnie Lombard Odier SCmA purchased a new stake in Aehr Test Systems in the second quarter worth about $34,000. Finally, Advocate Investing Services LLC bought a new position in shares of Aehr Test Systems during the second quarter valued at approximately $26,000. 69.69% of the stock is owned by institutional investors.

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.