Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Time to Sell?

Shares of Aehr Test Systems (NASDAQ:AEHR) gapped down before the market opened on Monday . The stock had previously closed at $101.73, but opened at $95.76. Aehr Test Systems shares last traded at $93.5310, with a volume of 425,543 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Lake Street Capital restated a “buy” rating and issued a $110.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Zacks Research upgraded shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Craig Hallum reiterated a “buy” rating and issued a $125.00 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Aehr Test Systems has a consensus rating of “Buy” and an average target price of $136.67.

Aehr Test Systems Trading Down 5.6%

The stock has a fifty day simple moving average of $94.63 and a 200-day simple moving average of $74.93. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -399.92 and a beta of 3.10.

Insider Buying and Selling

In related news, Director Laura Oliphant sold 1,717 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $133.00, for a total transaction of $228,361.00. Following the completion of the transaction, the director directly owned 16,100 shares in the company, valued at $2,141,300. This represents a 9.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Adil Engineer sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $131.02, for a total transaction of $1,965,300.00. Following the transaction, the chief operating officer owned 46,977 shares of the company’s stock, valued at approximately $6,154,926.54. The trade was a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 109,475 shares of company stock valued at $13,827,160 in the last ninety days. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System raised its stake in shares of Aehr Test Systems by 7,836.7% in the second quarter. California State Teachers Retirement System now owns 3,301,582 shares of the semiconductor company’s stock valued at $317,150,000 after purchasing an additional 3,259,983 shares in the last quarter. BlackRock Inc. bought a new position in Aehr Test Systems in the second quarter worth $255,476,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Aehr Test Systems during the second quarter worth $64,433,000. Wellington Management Group LLP boosted its stake in Aehr Test Systems by 129.9% during the fourth quarter. Wellington Management Group LLP now owns 830,664 shares of the semiconductor company’s stock worth $16,771,000 after buying an additional 469,400 shares in the last quarter. Finally, AWM Investment Company Inc. acquired a new stake in Aehr Test Systems during the second quarter worth $36,004,000. Institutional investors own 69.69% of the company’s stock.

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.