Aehr Test Systems (NASDAQ:AEHR) Shares Up 6.6% – Still a Buy?

Aehr Test Systems (NASDAQ:AEHR) was up 6.6% during trading on Monday . The company traded as high as $111.11 and last traded at $109.9040. 630,249 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 2,402,523 shares. The stock had previously closed at $103.07.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Freedom Capital raised Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Lake Street Capital restated a “buy” rating and issued a $110.00 price objective on shares of Aehr Test Systems in a report on Wednesday, July 15th. Wall Street Zen upgraded shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Craig Hallum reissued a “buy” rating and issued a $125.00 target price on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Finally, Weiss Ratings downgraded shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Aehr Test Systems presently has an average rating of “Buy” and an average price target of $117.50.

Aehr Test Systems Trading Up 3.0%

The stock has a market cap of $3.46 billion, a P/E ratio of -441.87 and a beta of 3.10. The firm’s fifty day moving average is $91.36 and its 200 day moving average is $68.48.

Insider Activity

In related news, Director Howard T. Slayen sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the completion of the sale, the director owned 146,367 shares in the company, valued at $15,851,546.10. This represents a 12.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Alistair N. Sporck sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $100.96, for a total value of $201,920.00. Following the sale, the vice president owned 23,547 shares of the company’s stock, valued at approximately $2,377,305.12. The trade was a 7.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,819 shares of company stock valued at $3,082,074 in the last three months. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Aehr Test Systems

Several hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its stake 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 valued at $365,000 after purchasing an additional 36,364 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Aehr Test Systems by 8.5% in the 1st 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 during the last quarter. JPMorgan Chase & Co. grew its position in Aehr Test Systems by 7.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 1,145 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Aehr Test Systems by 110.8% during the 2nd quarter. Legal & General Group Plc now owns 6,882 shares of the semiconductor company’s stock worth $89,000 after purchasing an additional 3,617 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Aehr Test Systems by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 41,466 shares of the semiconductor company’s stock worth $536,000 after purchasing an additional 1,254 shares during the period. 69.69% of the stock is owned by 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.