Aehr Test Systems (NASDAQ:AEHR) Stock Price Up 11.5% – Should You Buy?

Aehr Test Systems (NASDAQ:AEHR)’s share price rose 11.5% on Tuesday. The stock traded as high as $62.74 and last traded at $63.11. Approximately 1,094,046 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 2,474,578 shares. The stock had previously closed at $56.60.

Wall Street Analysts Forecast Growth

Several research firms have commented on AEHR. Lake Street Capital reissued a “buy” rating and set a $110.00 target price on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Oppenheimer initiated coverage on shares of Aehr Test Systems in a research note on Thursday, September 10th. They issued an “outperform” rating and a $120.00 target price on the stock. Freedom Capital raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Wall Street Zen raised Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings downgraded Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $132.50.

Aehr Test Systems Stock Up 11.3%

The stock has a fifty day moving average of $89.98 and a 200-day moving average of $72.89. The firm has a market capitalization of $2.06 billion, a P/E ratio of -262.93 and a beta of 3.47.

Insiders Place Their Bets

In other news, CEO Gayn Erickson sold 40,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $130.84, for a total transaction of $5,233,600.00. Following the completion of the transaction, the chief executive officer directly owned 157,723 shares in the company, valued at approximately $20,636,477.32. The trade was a 20.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard Slayen sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the completion of the sale, the director directly owned 146,367 shares of the company’s stock, valued at $15,851,546.10. The trade was a 12.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 109,475 shares of company stock worth $13,827,160 over the last three months. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Aehr Test Systems during the second quarter worth about $255,476,000. State Street Corp lifted its holdings in Aehr Test Systems by 14.4% during the 2nd quarter. State Street Corp now owns 712,926 shares of the semiconductor company’s stock valued at $68,484,000 after purchasing an additional 89,620 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Aehr Test Systems during the 2nd quarter valued at $64,433,000. AWM Investment Company Inc. bought a new position in Aehr Test Systems during the second quarter worth $36,004,000. Finally, Wellington Management Group LLP increased its holdings in shares of Aehr Test Systems by 56.0% in the second quarter. Wellington Management Group LLP now owns 238,453 shares of the semiconductor company’s stock valued at $22,906,000 after purchasing an additional 85,568 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors.

Aehr Test Systems Company Profile

Aehr Test Systems (NASDAQ: AEHR) develops and manufactures test and burn-in equipment used to qualify and screen semiconductor devices. Its systems are designed to identify manufacturing defects and reliability issues before chips are shipped to customers, helping semiconductor manufacturers improve production yields and product quality.

The company’s product portfolio includes the FOX family of semiconductor test systems, including the FOX-XP, FOX-NP and FOX-1P platforms. Aehr also provides wafer contactors, DiePak carriers and related test fixtures and software.