Aehr Test Systems (NASDAQ:AEHR) Shares Climb 5.3% – Here’s Why

Aehr Test Systems (NASDAQ:AEHR) shares were up 5.3% on Friday. The stock traded as high as $103.48 and last traded at $102.5640. Approximately 1,695,836 shares traded hands during trading, a decline of 31% from the average session volume of 2,463,333 shares. The stock had previously closed at $97.42.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AEHR shares. Freedom Capital upgraded shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Zacks Research lowered shares of Aehr Test Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Craig Hallum reissued a “buy” rating and set a $125.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Lake Street Capital restated a “buy” rating and issued a $110.00 price target on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Finally, Oppenheimer started coverage on Aehr Test Systems in a report on Thursday, September 10th. They issued an “outperform” rating and a $120.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.50.

Aehr Test Systems Trading Up 6.5%

The stock has a market cap of $3.39 billion, a P/E ratio of -430.12 and a beta of 3.06. The company’s 50 day moving average price is $94.46 and its two-hundred day moving average price is $84.42.

Insiders Place Their Bets

In other news, Director Rhea J. Posedel sold 8,413 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,093,690.00. Following the completion of the sale, the director owned 387,962 shares of the company’s stock, valued at $50,435,060. The trade was a 2.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Howard T. Slayen sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total value of $2,166,000.00. Following the completion of the transaction, the director directly owned 146,367 shares in the company, valued at approximately $15,851,546.10. This represents a 12.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 109,475 shares of company stock valued at $13,827,160. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Aehr Test Systems

Several hedge funds have recently bought and sold shares of AEHR. BlackRock Inc. purchased a new stake in Aehr Test Systems in the second quarter worth about $255,476,000. State Street Corp increased its holdings in Aehr Test Systems by 14.4% in the 2nd quarter. State Street Corp now owns 712,926 shares of the semiconductor company’s stock worth $68,484,000 after acquiring an additional 89,620 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Aehr Test Systems during the 2nd quarter worth approximately $64,433,000. AWM Investment Company Inc. bought a new stake in Aehr Test Systems during the 2nd quarter worth approximately $36,004,000. Finally, Wellington Management Group LLP lifted its holdings in Aehr Test Systems by 56.0% during the second quarter. Wellington Management Group LLP now owns 238,453 shares of the semiconductor company’s stock valued at $22,906,000 after purchasing an additional 85,568 shares in the last quarter. Institutional investors own 69.69% of the company’s stock.

Aehr Test Systems Company Profile

Aehr Test Systems (NASDAQ: AEHR) develops and manufactures semiconductor test and burn-in equipment used to verify the reliability and performance of integrated circuits, wafers and packaged devices. Its systems are designed to identify defects and reliability issues before semiconductor products are shipped to customers.

The company’s product portfolio includes the FOX family of test and burn-in systems, along with wafer-level and packaged-device solutions such as WaferPak contactors and DiePak carriers.