Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Should You Sell?

Aehr Test Systems (NASDAQ:AEHR) gapped down prior to trading on Monday . The stock had previously closed at $79.98, but opened at $75.61. Aehr Test Systems shares last traded at $82.5350, with a volume of 279,131 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AEHR. Craig Hallum reiterated a “buy” rating and set a $125.00 price target on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Weiss Ratings lowered Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Freedom Capital raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $110.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $117.50.

Aehr Test Systems Price Performance

The firm has a fifty day moving average of $91.25 and a 200 day moving average of $66.95. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -457.86 and a beta of 3.10.

Insider Activity

In related news, Director Howard T. Slayen sold 20,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the sale, the director directly owned 146,367 shares of the company’s stock, valued at approximately $15,851,546.10. This represents a 12.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Aehr Test Systems by 262.7% in the 1st quarter. Royal Bank of Canada now owns 50,207 shares of the semiconductor company’s stock valued at $365,000 after purchasing an additional 36,364 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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. JPMorgan Chase & Co. grew 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 valued at $201,000 after purchasing an additional 1,145 shares during the period. Legal & General Group Plc increased its position in shares of Aehr Test Systems by 110.8% in the second quarter. Legal & General Group Plc now owns 6,882 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 3,617 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Aehr Test Systems by 3.1% in the second quarter. Rhumbline Advisers now owns 41,466 shares of the semiconductor company’s stock valued at $536,000 after buying an additional 1,254 shares in the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

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.