Aehr Test Systems (NASDAQ:AEHR) Trading 6.8% Higher – Here’s What Happened

Shares of Aehr Test Systems (NASDAQ:AEHR) traded up 6.8% on Monday . The stock traded as high as $88.95 and last traded at $89.5820. 980,987 shares were traded during trading, a decline of 55% from the average session volume of 2,164,906 shares. The stock had previously closed at $83.86.

Analysts Set New Price Targets

AEHR has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Aehr Test Systems from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Aehr Test Systems in a report on Monday. Lake Street Capital reissued a “buy” rating on shares of Aehr Test Systems in a research note on Wednesday, April 8th. Craig Hallum upgraded shares of Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, April 8th. Finally, William Blair upgraded shares of Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.00.

Aehr Test Systems Stock Performance

The stock has a market capitalization of $2.95 billion, a PE ratio of -246.63 and a beta of 2.28. The firm has a 50 day moving average of $45.40 and a 200-day moving average of $31.88.

Aehr Test Systems (NASDAQ:AEHR) last posted its quarterly earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $10.31 million during the quarter, compared to the consensus estimate of $10.85 million. Aehr Test Systems had a negative return on equity of 7.15% and a negative net margin of 25.23%. On average, sell-side analysts predict that Aehr Test Systems will post -0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Aehr Test Systems news, Director Rhea J. Posedel sold 30,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $70.00, for a total value of $2,100,000.00. Following the sale, the director directly owned 426,979 shares in the company, valued at $29,888,530. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Howard T. Slayen sold 25,000 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $85.00, for a total transaction of $2,125,000.00. Following the transaction, the director directly owned 178,328 shares of the company’s stock, valued at $15,157,880. This represents a 12.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 352,011 shares of company stock worth $25,205,558 in the last three months. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Aehr Test Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in shares of Aehr Test Systems in the 3rd quarter valued at $27,000. Jones Financial Companies Lllp grew its position in Aehr Test Systems by 3,448.3% in the third quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 1,000 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Aehr Test Systems in the fourth quarter valued at $25,000. RiverPark Advisors LLC acquired a new position in Aehr Test Systems during the third quarter worth $42,000. Finally, State of Wyoming acquired a new position in Aehr Test Systems during the second quarter worth $28,000. 69.69% of the stock is currently 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.