Aehr Test Systems (NASDAQ:AEHR) Downgraded by Zacks Research to Hold

Aehr Test Systems (NASDAQ:AEHR) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

Other analysts have also issued research reports about the stock. Lake Street Capital reaffirmed a “buy” rating and set a $110.00 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. Wall Street Zen raised shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings lowered shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. Oppenheimer started coverage on shares of Aehr Test Systems in a report on Thursday, September 10th. They issued an “outperform” rating and a $120.00 price target on the stock. Finally, 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 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Aehr Test Systems Trading Down 2.1%

Shares of Aehr Test Systems stock opened at $81.58 on Monday. The company’s 50-day moving average price is $91.82 and its 200-day moving average price is $81.75. Aehr Test Systems has a 12-month low of $18.70 and a 12-month high of $147.40. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -339.90 and a beta of 3.06.

Insider Buying and Selling

In other news, COO Adil Engineer sold 15,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $131.02, for a total value of $1,965,300.00. Following the transaction, the chief operating officer owned 46,977 shares of the company’s stock, valued at $6,154,926.54. This represents a 24.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Howard T. Slayen sold 20,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the completion of the transaction, the director directly owned 146,367 shares in the company, valued at $15,851,546.10. The trade was a 12.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 109,475 shares of company stock valued at $13,827,160 in the last 90 days. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Aehr Test Systems in the second quarter valued at $255,476,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Aehr Test Systems during the second quarter worth about $64,433,000. AWM Investment Company Inc. bought a new stake in Aehr Test Systems during the second quarter worth about $36,004,000. Next Century Growth Investors LLC boosted its holdings in shares of Aehr Test Systems by 99.9% in 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 in the last quarter. Finally, Bard Associates Inc. purchased a new position in shares of Aehr Test Systems in the 2nd quarter worth about $15,072,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

About Aehr Test Systems

Aehr Test Systems (NASDAQ: AEHR) develops and manufactures semiconductor test and burn-in equipment used to verify the reliability and performance of integrated circuits, wafers and packaged devices. Its systems are designed to identify defects and reliability issues before semiconductor products are shipped to customers.

The company’s product portfolio includes the FOX family of test and burn-in systems, along with wafer-level and packaged-device solutions such as WaferPak contactors and DiePak carriers.