Aehr Test Systems (NASDAQ:AEHR) Shares Up 5.8% – Here’s What Happened

Aehr Test Systems (NASDAQ:AEHR)’s share price was up 5.8% during mid-day trading on Wednesday . The company traded as high as $121.80 and last traded at $119.57. Approximately 1,327,226 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 2,365,548 shares. The stock had previously closed at $113.00.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AEHR shares. Wall Street Zen cut shares of Aehr Test Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Craig Hallum raised shares of Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Wednesday, April 8th. 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. William Blair raised shares of Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, March 2nd. Finally, Lake Street Capital reissued a “buy” rating on shares of Aehr Test Systems in a research note on Wednesday, April 8th. Three investment 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, Aehr Test Systems has an average rating of “Hold” and a consensus price target of $68.00.

Aehr Test Systems Stock Performance

The business’s 50 day moving average is $76.64 and its 200-day moving average is $44.92. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -303.08 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR) last announced its 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 net margin of 25.23% and a negative return on equity of 7.15%. The company had revenue of $10.31 million for the quarter, compared to analysts’ expectations of $10.85 million. Sell-side analysts anticipate that Aehr Test Systems will post -0.31 EPS for the current fiscal year.

Insider Transactions at Aehr Test Systems

In related news, Director Howard T. Slayen sold 6,819 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $104.73, for a total value of $714,153.87. Following the sale, the director directly owned 169,709 shares in the company, valued at approximately $17,773,623.57. The trade was a 3.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $187,000.00. Following the completion of the sale, the vice president owned 5,177 shares in the company, valued at approximately $484,049.50. This trade represents a 27.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 375,005 shares of company stock worth $28,656,178 in the last 90 days. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Aehr Test Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV acquired a new position in Aehr Test Systems in the first quarter valued at approximately $30,000. Sunbelt Securities Inc. acquired a new position in Aehr Test Systems in the third quarter valued at approximately $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 valued at $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 in the fourth quarter valued at approximately $25,000. Finally, RiverPark Advisors LLC acquired a new position in Aehr Test Systems in the third quarter valued at approximately $42,000. 69.69% of the stock is owned by institutional investors and hedge funds.

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.