Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up – Still a Buy?

Aehr Test Systems (NASDAQ:AEHR)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $104.83, but opened at $114.46. Aehr Test Systems shares last traded at $116.6560, with a volume of 646,868 shares.

Wall Street Analyst Weigh In

AEHR has been the topic of several recent analyst reports. Weiss Ratings raised shares of Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Craig Hallum upgraded Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Wednesday, April 8th. Lake Street Capital reissued a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. Wall Street Zen raised Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, William Blair upgraded Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.00.

Aehr Test Systems Trading Up 2.4%

The company has a market cap of $3.63 billion, a PE ratio of -303.42 and a beta of 3.17. The business’s 50-day simple moving average is $94.06 and its 200-day simple moving average is $52.74.

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

Insider Transactions at Aehr Test Systems

In other news, insider Donald P. Richmond II sold 17,011 shares of Aehr Test Systems stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $73.18, for a total transaction of $1,244,864.98. Following the completion of the sale, the insider directly owned 181,512 shares in the company, valued at $13,283,048.16. The trade was a 8.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard T. Slayen sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $85.00, for a total value of $2,125,000.00. Following the completion of the sale, the director directly owned 178,328 shares of the company’s stock, valued at approximately $15,157,880. The trade was a 12.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 375,005 shares of company stock valued at $28,656,178. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Aehr Test Systems

A number of institutional investors have recently added to or reduced their stakes in AEHR. KBC Group NV bought a new stake in Aehr Test Systems in the first quarter worth approximately $30,000. Sunbelt Securities Inc. acquired a new stake in shares of Aehr Test Systems in the 3rd quarter valued at $27,000. Jones Financial Companies Lllp boosted its holdings 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 worth $31,000 after purchasing an additional 1,000 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Aehr Test Systems during the fourth quarter worth $25,000. Finally, RiverPark Advisors LLC acquired a new position in Aehr Test Systems during the third quarter worth $42,000. 69.69% of the stock is currently 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.