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

Aehr Test Systems (NASDAQ:AEHR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $86.26, but opened at $90.39. Aehr Test Systems shares last traded at $91.7720, with a volume of 1,472,161 shares trading hands.

Wall Street Analyst Weigh In

AEHR has been the topic of several recent analyst reports. Weiss Ratings cut Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. Lake Street Capital reiterated a “buy” rating and issued a $110.00 price objective on shares of Aehr Test Systems in a report on Wednesday, July 15th. Wall Street Zen upgraded Aehr Test Systems from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Jefferies Financial Group began coverage on Aehr Test Systems in a research note on Thursday, August 13th. They set a “buy” rating and a $175.00 target price on the stock. Finally, Zacks Research upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Aehr Test Systems has an average rating of “Buy” and an average target price of $136.67.

Aehr Test Systems Trading Up 8.8%

The company has a market cap of $3.06 billion, a PE ratio of -389.52 and a beta of 3.06. The stock has a 50 day moving average price of $90.22 and a 200 day moving average price of $79.41.

Insider Buying and Selling

In related news, EVP Alberto Salamone sold 9,672 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $127.72, for a total value of $1,235,307.84. Following the completion of the transaction, the executive vice president directly owned 41,962 shares in the company, valued at $5,359,386.64. This trade represents a 18.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard Slayen sold 20,000 shares of Aehr Test Systems stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the transaction, the director directly owned 146,367 shares of the company’s stock, valued at approximately $15,851,546.10. This trade represents a 12.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 109,475 shares of company stock worth $13,827,160 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Aehr Test Systems

A number of hedge funds have recently made changes to their positions in AEHR. California State Teachers Retirement System increased its stake in Aehr Test Systems by 7,836.7% during the 2nd quarter. California State Teachers Retirement System now owns 3,301,582 shares of the semiconductor company’s stock valued at $317,150,000 after purchasing an additional 3,259,983 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Aehr Test Systems during the second quarter valued at approximately $255,476,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Aehr Test Systems during the second quarter valued at approximately $64,433,000. Wellington Management Group LLP increased its position in shares of 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 in the last quarter. Finally, AWM Investment Company Inc. bought a new stake in shares of Aehr Test Systems during the second quarter valued at approximately $36,004,000. 69.69% of the stock is owned by 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.