Aehr Test Systems (NASDAQ:AEHR) Stock Price Up 10.3% – Here’s Why

Aehr Test Systems (NASDAQ:AEHR)’s share price traded up 10.3% during trading on Tuesday . The company traded as high as $101.78 and last traded at $101.19. 944,257 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 2,412,771 shares. The stock had previously closed at $91.71.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen upgraded Aehr Test Systems from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Craig Hallum restated a “buy” rating and issued a $125.00 target price on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Freedom Capital raised Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report 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. Finally, Lake Street Capital reissued a “buy” rating and issued a $110.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $117.50.

Aehr Test Systems Trading Up 18.5%

The company’s fifty day simple moving average is $91.25 and its 200 day simple moving average is $66.36. The stock has a market capitalization of $3.55 billion, a P/E ratio of -453.11 and a beta of 3.10.

Insider Activity

In related news, Director Howard T. Slayen sold 6,819 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $104.73, for a total value of $714,153.87. Following the sale, the director owned 169,709 shares in the company, valued at approximately $17,773,623.57. This trade represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Aehr Test Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advocate Investing Services LLC purchased a new position in shares of Aehr Test Systems in the second quarter worth about $26,000. Compagnie Lombard Odier SCmA purchased a new stake in Aehr Test Systems during the 2nd quarter valued at about $34,000. Millennium Management LLC grew its position in Aehr Test Systems by 0.8% during the 4th quarter. Millennium Management LLC now owns 59,219 shares of the semiconductor company’s stock worth $1,196,000 after acquiring an additional 492 shares during the last quarter. KBC Group NV bought a new position in Aehr Test Systems during the 1st quarter worth approximately $30,000. Finally, CoreCap Advisors LLC increased its stake in Aehr Test Systems by 241.8% in the 2nd quarter. CoreCap Advisors LLC now owns 1,251 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 885 shares during the period. 69.69% of the stock is currently owned by hedge funds and other 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.