Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up – Time to Buy?

Aehr Test Systems (NASDAQ:AEHR)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $96.43, but opened at $101.84. Aehr Test Systems shares last traded at $97.50, with a volume of 357,139 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group initiated coverage on Aehr Test Systems in a research report on Thursday, August 13th. They set a “buy” rating and a $175.00 target price for the company. Freedom Capital upgraded shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Zacks Research raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Craig Hallum restated a “buy” rating and issued a $125.00 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $136.67.

Aehr Test Systems Trading Down 4.7%

The stock has a 50-day simple moving average of $93.62 and a two-hundred day simple moving average of $76.40. The firm has a market capitalization of $2.97 billion, a P/E ratio of -379.65 and a beta of 3.10.

Insider Transactions at Aehr Test Systems

In related news, COO Adil Engineer sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $131.02, for a total transaction of $1,965,300.00. Following the sale, the chief operating officer owned 46,977 shares of the company’s stock, valued at $6,154,926.54. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alberto Salamone sold 9,672 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $127.72, for a total transaction of $1,235,307.84. Following the completion of the sale, the executive vice president owned 41,962 shares in the company, valued at $5,359,386.64. This represents a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 109,475 shares of company stock worth $13,827,160. Insiders own 6.80% of the company’s stock.

Institutional Trading of Aehr Test Systems

Institutional investors have recently made changes to their positions in the business. Advocate Investing Services LLC acquired a new position in shares of Aehr Test Systems in the second quarter worth about $26,000. Nykredit A S acquired a new position in shares of Aehr Test Systems during the 2nd quarter worth about $28,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Aehr Test Systems during the 2nd quarter worth about $34,000. Millennium Management LLC boosted its stake in Aehr Test Systems by 0.8% during the 4th quarter. Millennium Management LLC now owns 59,219 shares of the semiconductor company’s stock worth $1,196,000 after purchasing an additional 492 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of Aehr Test Systems in the first quarter valued at about $30,000. 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.