Aehr Test Systems (NASDAQ:AEHR) Hits New 52-Week High – Here’s Why

Aehr Test Systems (NASDAQ:AEHR) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $103.83 and last traded at $99.1950, with a volume of 3093577 shares trading hands. The stock had previously closed at $91.26.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings raised shares of Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Lake Street Capital reaffirmed a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. William Blair upgraded shares of Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, March 2nd. Wall Street Zen raised shares of Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Craig Hallum upgraded shares of Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Wednesday, April 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Aehr Test Systems presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Aehr Test Systems Stock Up 6.7%

The firm has a 50-day simple moving average of $57.33 and a 200 day simple moving average of $36.42. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -256.21 and a beta of 3.26.

Aehr Test Systems (NASDAQ:AEHR) last posted its quarterly earnings data on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business 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%. As a group, research analysts expect that Aehr Test Systems will post -0.31 EPS for the current year.

Insider Activity

In other news, Director Laura Oliphant sold 4,665 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $85.59, for a total value of $399,277.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alberto Salamone sold 15,000 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $89.57, for a total transaction of $1,343,550.00. Following the sale, the executive vice president owned 63,025 shares of the company’s stock, valued at $5,645,149.25. This trade represents a 19.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 382,184 shares of company stock worth $28,362,244 over the last 90 days. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aehr Test Systems

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in Aehr Test Systems by 262.7% during the 1st quarter. Royal Bank of Canada now owns 50,207 shares of the semiconductor company’s stock worth $365,000 after acquiring an additional 36,364 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Aehr Test Systems by 8.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,225 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 1,344 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Aehr Test Systems by 7.9% during the second quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 1,145 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Aehr Test Systems by 110.8% during the second quarter. Legal & General Group Plc now owns 6,882 shares of the semiconductor company’s stock worth $89,000 after purchasing an additional 3,617 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Aehr Test Systems by 3.1% during the second quarter. Rhumbline Advisers now owns 41,466 shares of the semiconductor company’s stock worth $536,000 after purchasing an additional 1,254 shares during the period. 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.