Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up – Here’s What Happened

Aehr Test Systems (NASDAQ:AEHR)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $95.20, but opened at $102.60. Aehr Test Systems shares last traded at $93.9850, with a volume of 243,841 shares traded.

Analyst Upgrades and Downgrades

AEHR has been the subject of several research analyst reports. Weiss Ratings upgraded Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Craig Hallum raised Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Wednesday, April 8th. William Blair upgraded Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. Wall Street Zen raised shares of Aehr Test Systems from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Lake Street Capital restated a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.00.

Aehr Test Systems Trading Up 1.6%

The firm’s 50-day moving average price is $97.10 and its 200-day moving average price is $55.07. The stock has a market capitalization of $3.04 billion, a PE ratio of -254.56 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR) last released its quarterly earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) EPS 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 company had revenue of $10.31 million during the quarter, compared to analyst estimates of $10.85 million. On average, equities 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 related news, insider Donald P. Richmond II sold 17,011 shares of the stock in a transaction on 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 sale, the insider owned 181,512 shares in the company, valued at approximately $13,283,048.16. This represents a 8.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alberto Salamone sold 15,000 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $89.57, for a total value of $1,343,550.00. Following the completion of the sale, the executive vice president owned 63,025 shares of the company’s stock, valued at approximately $5,645,149.25. This represents a 19.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 375,005 shares of company stock worth $28,656,178. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aehr Test Systems

Several hedge funds and other institutional investors have recently made changes to their positions in AEHR. Strait & Sound Wealth Management LLC bought a new stake in shares of Aehr Test Systems in the 1st quarter worth about $349,000. Cim LLC bought a new position in Aehr Test Systems during the 1st quarter valued at about $507,000. California State Teachers Retirement System grew its holdings in Aehr Test Systems by 2,271.7% during the 1st quarter. California State Teachers Retirement System now owns 41,599 shares of the semiconductor company’s stock valued at $1,542,000 after purchasing an additional 39,845 shares during the last quarter. Royal Bank of Canada grew its holdings in Aehr Test Systems by 15.3% during the 1st quarter. Royal Bank of Canada now owns 59,939 shares of the semiconductor company’s stock valued at $2,222,000 after purchasing an additional 7,968 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Aehr Test Systems in the 1st quarter worth about $291,000. Hedge funds and other institutional investors 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.