Aehr Test Systems (NASDAQ:AEHR) Shares Up 11.3% – What’s Next?

Aehr Test Systems (NASDAQ:AEHR)’s stock price shot up 11.3% during mid-day trading on Thursday . The company traded as high as $91.78 and last traded at $91.6190. 1,226,126 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 2,385,904 shares. The stock had previously closed at $82.34.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Aehr Test Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Lake Street Capital reiterated a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. Weiss Ratings upgraded Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report 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 for the company in a research report on Wednesday, April 8th. Finally, William Blair raised Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Aehr Test Systems has a consensus rating of “Hold” and a consensus price target of $68.00.

Aehr Test Systems Price Performance

The company has a 50 day simple moving average of $69.18 and a 200-day simple moving average of $41.65. The stock has a market cap of $2.99 billion, a P/E ratio of -250.05 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 (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 firm had revenue of $10.31 million during the quarter, compared to analyst estimates of $10.85 million. As a group, research analysts expect that Aehr Test Systems will post -0.31 earnings per share for the current year.

Insider Activity

In other news, Director Rhea J. Posedel sold 17,115 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $100.00, for a total value of $1,711,500.00. Following the completion of the sale, the director owned 45,261 shares of the company’s stock, valued at approximately $4,526,100. The trade was a 27.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alistair N. Sporck sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $93.50, for a total value of $187,000.00. Following the completion of the sale, the vice president directly owned 5,177 shares of the company’s stock, valued at approximately $484,049.50. This trade represents a 27.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 375,005 shares of company stock valued at $28,656,178. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Aehr Test Systems

A number of hedge funds and other institutional investors have recently modified their holdings of AEHR. Caitong International Asset Management Co. Ltd purchased a new position in Aehr Test Systems during the 4th quarter valued at about $25,000. Sunbelt Securities Inc. purchased a new position in Aehr Test Systems during the 3rd quarter valued at about $27,000. State of Wyoming purchased a new position in Aehr Test Systems during the 2nd quarter valued at about $28,000. KBC Group NV purchased a new position in Aehr Test Systems during the 1st quarter valued at about $30,000. Finally, Jones Financial Companies Lllp increased its holdings in Aehr Test Systems by 3,448.3% during 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 period. Institutional investors own 69.69% of the company’s stock.

About Aehr Test Systems

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.