Aehr Test Systems (NASDAQ:AEHR) Trading Down 6.4% – What’s Next?

Shares of Aehr Test Systems (NASDAQ:AEHR) were down 6.4% during mid-day trading on Thursday . The stock traded as low as $75.40 and last traded at $75.0970. Approximately 520,227 shares changed hands during trading, a decline of 78% from the average daily volume of 2,413,033 shares. The stock had previously closed at $80.24.

Analysts Set New Price Targets

AEHR has been the topic of several research reports. Freedom Capital upgraded shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Zacks Research upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Lake Street Capital restated a “buy” rating and issued a $110.00 target price on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Wall Street Zen upgraded Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Jefferies Financial Group initiated coverage on Aehr Test Systems in a report on Thursday, August 13th. They issued a “buy” rating and a $175.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Aehr Test Systems currently has a consensus rating of “Buy” and a consensus price target of $136.67.

Aehr Test Systems Stock Performance

The stock has a market capitalization of $2.55 billion, a P/E ratio of -324.88 and a beta of 3.06. The business has a fifty day simple moving average of $90.95 and a 200-day simple moving average of $78.27.

Insider Activity at Aehr Test Systems

In related 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 value of $5,233,600.00. Following the completion of the sale, the chief executive officer directly owned 157,723 shares of the company’s stock, valued at $20,636,477.32. The trade was a 20.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Howard T. Slayen sold 20,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total value of $2,166,000.00. Following the completion of the transaction, the director owned 146,367 shares in the company, valued at approximately $15,851,546.10. This represents a 12.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 109,475 shares of company stock worth $13,827,160 over the last ninety days. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Aehr Test Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Aehr Test Systems by 262.7% during the first quarter. Royal Bank of Canada now owns 50,207 shares of the semiconductor company’s stock valued at $365,000 after purchasing an additional 36,364 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Aehr Test Systems by 8.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,225 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 1,344 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Aehr Test Systems by 7.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 1,145 shares during the last quarter. Legal & General Group Plc increased its stake in Aehr Test Systems by 110.8% in the 2nd quarter. Legal & General Group Plc now owns 6,882 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 3,617 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Aehr Test Systems by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 41,466 shares of the semiconductor company’s stock worth $536,000 after buying an additional 1,254 shares in the last quarter. 69.69% of the stock is owned by institutional investors.

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.