Aehr Test Systems (NASDAQ:AEHR) Stock Price Down 10.8% – Here’s What Happened

Aehr Test Systems (NASDAQ:AEHR)’s stock price dropped 10.8% on Tuesday . The stock traded as low as $92.15 and last traded at $93.2190. Approximately 1,649,733 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 2,354,648 shares. The stock had previously closed at $104.56.

Wall Street Analysts Forecast Growth

AEHR has been the topic of several analyst reports. William Blair raised shares of Aehr Test Systems from a “market perform” rating to an “outperform” rating in a report on Monday, March 2nd. Weiss Ratings upgraded shares of Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Lake Street Capital restated a “buy” rating on shares of Aehr Test Systems in a research report 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 on the stock in a research report on Wednesday, April 8th. Finally, Wall Street Zen upgraded shares of Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Aehr Test Systems Stock Up 3.0%

The company has a fifty day moving average of $63.41 and a two-hundred day moving average of $39.09. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -279.84 and a beta of 3.26.

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

Insider Activity

In related news, Director Laura Oliphant sold 4,665 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $85.59, for a total transaction of $399,277.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alistair N. Sporck sold 2,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $93.50, for a total value of $187,000.00. Following the sale, the vice president directly owned 5,177 shares of the company’s stock, valued at approximately $484,049.50. This represents a 27.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 382,184 shares of company stock valued at $28,362,244. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AEHR. Millennium Management LLC raised its stake in Aehr Test Systems by 0.8% in the 4th quarter. Millennium Management LLC now owns 59,219 shares of the semiconductor company’s stock valued at $1,196,000 after purchasing an additional 492 shares during the last quarter. State of Wyoming raised its stake in Aehr Test Systems by 26.7% in the 3rd quarter. State of Wyoming now owns 2,777 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 586 shares during the last quarter. KBC Group NV acquired a new position in Aehr Test Systems in the 1st quarter valued at about $30,000. Sunbelt Securities Inc. acquired a new position in Aehr Test Systems in the 3rd quarter valued at about $27,000. Finally, Jones Financial Companies Lllp raised its stake in Aehr Test Systems by 3,448.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

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.