Aehr Test Systems (NASDAQ:AEHR) Stock Price Up 3.9% – Still a Buy?

Shares of Aehr Test Systems (NASDAQ:AEHR) shot up 3.9% on Thursday . The stock traded as high as $99.06 and last traded at $99.3220. 1,037,876 shares traded hands during trading, a decline of 58% from the average session volume of 2,460,646 shares. The stock had previously closed at $95.56.

Wall Street Analyst Weigh In

AEHR has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of 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 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. Jefferies Financial Group initiated coverage on Aehr Test Systems in a research report on Thursday, August 13th. They issued a “buy” rating and a $175.00 target price on the stock. Freedom Capital upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Oppenheimer initiated coverage on Aehr Test Systems in a research note on Thursday. They issued an “outperform” rating and a $120.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Aehr Test Systems presently has an average rating of “Buy” and a consensus price target of $132.50.

Aehr Test Systems Price Performance

The firm has a market cap of $3.24 billion, a PE ratio of -411.94 and a beta of 3.06. The company’s 50 day moving average price is $90.33 and its 200 day moving average price is $80.31.

Insider Buying and Selling

In other news, Director Rhea J. Posedel sold 8,413 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,093,690.00. Following the sale, the director owned 387,962 shares of the company’s stock, valued at approximately $50,435,060. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard T. Slayen sold 20,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $108.30, for a total value of $2,166,000.00. Following the completion of the sale, the director owned 146,367 shares in the company, valued at approximately $15,851,546.10. The trade was a 12.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 109,475 shares of company stock worth $13,827,160 over the last three months. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Advocate Investing Services LLC acquired a new stake in Aehr Test Systems in the 2nd quarter valued at about $26,000. Nykredit A S acquired a new position in shares of Aehr Test Systems during the second quarter worth about $28,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Aehr Test Systems during the second quarter worth approximately $34,000. KBC Group NV purchased a new stake in shares of Aehr Test Systems during the first quarter worth approximately $30,000. Finally, Sunbelt Securities Inc. acquired a new stake in Aehr Test Systems in the third quarter valued at approximately $27,000. 69.69% of the stock is owned by institutional investors and hedge funds.

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.