Aehr Test Systems (NASDAQ:AEHR) Shares Down 8.7% – Here’s Why

Shares of Aehr Test Systems (NASDAQ:AEHR) traded down 8.7% during trading on Thursday . The company traded as low as $38.00 and last traded at $38.7670. 431,436 shares were traded during mid-day trading, a decline of 72% from the average session volume of 1,531,582 shares. The stock had previously closed at $42.45.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AEHR shares. Craig Hallum restated a “hold” rating on shares of Aehr Test Systems in a research report on Friday, January 9th. Zacks Research raised shares of Aehr Test Systems from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Lake Street Capital assumed coverage on shares of Aehr Test Systems in a research note on Wednesday, December 17th. They issued a “buy” rating for the company. William Blair raised shares of Aehr Test Systems from a “market perform” rating to an “outperform” rating in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Aehr Test Systems in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.00.

Aehr Test Systems Stock Down 7.4%

The stock has a fifty day simple moving average of $30.46 and a 200-day simple moving average of $27.04. The company has a market capitalization of $1.20 billion, a P/E ratio of -131.05 and a beta of 2.22.

Aehr Test Systems (NASDAQ:AEHR) last announced its earnings results on Thursday, January 8th. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. The business had revenue of $9.88 million during the quarter, compared to analysts’ expectations of $11.45 million. Aehr Test Systems had a negative net margin of 16.63% and a negative return on equity of 4.57%. Analysts predict that Aehr Test Systems will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aehr Test Systems news, Director Laura Oliphant sold 4,546 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $31.40, for a total value of $142,744.40. Following the transaction, the director owned 18,432 shares of the company’s stock, valued at approximately $578,764.80. The trade was a 19.78% 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 hyperlink. Also, Director Rhea J. Posedel sold 13,998 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $30.02, for a total value of $420,219.96. Following the sale, the director owned 456,979 shares in the company, valued at $13,718,509.58. The trade was a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in Aehr Test Systems by 262.7% during the 1st quarter. Royal Bank of Canada now owns 50,207 shares of the semiconductor company’s stock worth $365,000 after acquiring an additional 36,364 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Aehr Test Systems by 8.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,225 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 1,344 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Aehr Test Systems by 1.3% during the second quarter. Geode Capital Management LLC now owns 678,546 shares of the semiconductor company’s stock worth $8,775,000 after purchasing an additional 8,658 shares in the last quarter. ARS Investment Partners LLC bought a new stake in shares of Aehr Test Systems during the second quarter valued at approximately $300,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Aehr Test Systems by 7.9% in the second quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 1,145 shares in the last quarter. 69.69% of the stock is owned by institutional investors.

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.