Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Here’s Why

Aehr Test Systems (NASDAQ:AEHR) shares gapped down prior to trading on Tuesday . The stock had previously closed at $72.32, but opened at $66.41. Aehr Test Systems shares last traded at $67.2090, with a volume of 299,612 shares.

Wall Street Analysts Forecast Growth

AEHR has been the subject of a number of research reports. 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. Wall Street Zen upgraded shares of Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Lake Street Capital reissued a “buy” rating on shares of Aehr Test Systems in a research note on Wednesday, April 8th. Finally, Craig Hallum upgraded shares of 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. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.00.

Aehr Test Systems Price Performance

The stock’s 50 day moving average is $96.88 and its 200-day moving average is $58.47. The company has a market capitalization of $2.05 billion, a P/E ratio of -171.49 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR) last posted its quarterly earnings data on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share for the quarter, beating 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 business had revenue of $10.31 million for the quarter, compared to analysts’ expectations of $10.85 million. On average, equities research analysts anticipate that Aehr Test Systems will post -0.31 EPS for the current year.

Insider Buying and Selling

In other news, Director Rhea J. Posedel sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $70.00, for a total value of $2,100,000.00. Following the completion of the transaction, the director owned 426,979 shares in the company, valued at $29,888,530. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alberto Salamone sold 15,000 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $89.57, for a total value of $1,343,550.00. Following the completion of the sale, the executive vice president directly owned 63,025 shares in the company, valued at approximately $5,645,149.25. The trade was a 19.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 375,005 shares of company stock worth $28,656,178 over the last quarter. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AEHR. Millennium Management LLC boosted its holdings in shares of Aehr Test Systems by 0.8% during the 4th quarter. Millennium Management LLC now owns 59,219 shares of the semiconductor company’s stock valued at $1,196,000 after acquiring an additional 492 shares during the last quarter. KBC Group NV purchased a new position in shares of Aehr Test Systems during the first quarter valued at approximately $30,000. CoreCap Advisors LLC lifted its position in Aehr Test Systems by 241.8% during the second quarter. CoreCap Advisors LLC now owns 1,251 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 885 shares during the period. Sunbelt Securities Inc. purchased a new stake in Aehr Test Systems in the third quarter worth approximately $27,000. Finally, JPMorgan Chase & Co. boosted its holdings in Aehr Test Systems by 7.9% in the second quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 1,145 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors.

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.