Zacks Research Upgrades Aehr Test Systems (NASDAQ:AEHR) to “Hold”

Aehr Test Systems (NASDAQ:AEHR) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. Craig Hallum cut shares of Aehr Test Systems from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Aehr Test Systems in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $24.00.

Aehr Test Systems Price Performance

AEHR opened at $24.52 on Monday. The business has a fifty day moving average price of $24.69 and a 200 day moving average price of $20.79. Aehr Test Systems has a 12 month low of $6.27 and a 12 month high of $34.35. The stock has a market capitalization of $735.85 million, a price-to-earnings ratio of -111.45 and a beta of 2.40.

Aehr Test Systems (NASDAQ:AEHR) last announced its quarterly earnings data on Monday, October 6th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Aehr Test Systems had a negative return on equity of 2.41% and a negative net margin of 11.71%.The business had revenue of $11.00 million during the quarter, compared to analysts’ expectations of $13.69 million. During the same quarter last year, the business posted $0.07 EPS. On average, research analysts anticipate that Aehr Test Systems will post 0.1 earnings per share for the current year.

Insider Activity at Aehr Test Systems

In other Aehr Test Systems news, Director Fariba Danesh sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $24.79, for a total transaction of $223,110.00. Following the sale, the director owned 16,643 shares of the company’s stock, valued at approximately $412,579.97. This trade represents a 35.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard T. Slayen sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $25.73, for a total transaction of $154,380.00. Following the sale, the director owned 218,328 shares of the company’s stock, valued at $5,617,579.44. This represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Aehr Test Systems

Several large investors have recently bought and sold shares of AEHR. Sunbelt Securities Inc. acquired a new stake in shares of Aehr Test Systems during the third quarter worth about $27,000. State of Wyoming acquired a new stake in shares of Aehr Test Systems in the 2nd quarter valued at about $28,000. Quantbot Technologies LP purchased a new position in Aehr Test Systems during the 1st quarter worth approximately $31,000. Jones Financial Companies Lllp increased its position in Aehr Test Systems by 3,448.3% during the third quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock worth $31,000 after buying an additional 1,000 shares during the period. Finally, RiverPark Advisors LLC acquired a new position in Aehr Test Systems during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

About Aehr Test Systems

Aehr Test Systems provides test solutions for testing, burning-in, and semiconductor devices in wafer level, singulated die, and package part form, and installed systems worldwide. Its product portfolio includes FOX-XP and FOX-NP systems that are full wafer contact and singulated die/module test and burn-in systems that can test, burn-in, and stabilize range of devices, including silicon carbide-based and other power semiconductors, 2D and 3D sensors used in mobile phones, tablets and other computing devices, memory semiconductors, processors, microcontrollers, systems-on-a-chip, and photonics and integrated optical devices.