Aehr Test Systems (NASDAQ:AEHR) Trading 10.3% Higher – Here’s What Happened

Shares of Aehr Test Systems (NASDAQ:AEHR) traded up 10.3% on Monday . The company traded as high as $76.73 and last traded at $77.1740. Approximately 940,841 shares changed hands during trading, a decline of 58% from the average daily volume of 2,263,599 shares. The stock had previously closed at $69.96.

Wall Street Analysts Forecast Growth

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

Aehr Test Systems Price Performance

The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -177.74 and a beta of 3.17. The firm has a 50 day simple moving average of $96.30 and a two-hundred day simple moving average of $58.79.

Aehr Test Systems (NASDAQ:AEHR) last posted 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. The company had revenue of $10.31 million during the quarter, compared to analyst estimates of $10.85 million. Aehr Test Systems had a negative return on equity of 7.15% and a negative net margin of 25.23%. On average, sell-side analysts expect that Aehr Test Systems will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In other Aehr Test Systems news, Director Howard T. Slayen sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $85.00, for a total value of $2,125,000.00. Following the completion of the sale, the director owned 178,328 shares of the company’s stock, valued at approximately $15,157,880. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rhea J. Posedel sold 30,000 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $70.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director owned 426,979 shares in the company, valued at approximately $29,888,530. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 375,005 shares of company stock valued at $28,656,178. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Aehr Test Systems during the fourth quarter worth about $25,000. Sunbelt Securities Inc. bought a new stake in Aehr Test Systems during the 3rd quarter worth approximately $27,000. State of Wyoming bought a new stake in Aehr Test Systems during the 2nd quarter worth approximately $28,000. KBC Group NV acquired a new stake in Aehr Test Systems during the 1st quarter worth approximately $30,000. Finally, RiverPark Advisors LLC acquired a new stake in Aehr Test Systems during the 3rd quarter worth approximately $42,000. 69.69% of the stock is owned by institutional investors and hedge funds.

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.