Aehr Test Systems (NASDAQ:AEHR) Trading Down 10.8% – Here’s What Happened

Aehr Test Systems (NASDAQ:AEHR) shares were down 10.8% during mid-day trading on Tuesday . The company traded as low as $92.15 and last traded at $93.2190. Approximately 1,649,733 shares were traded during trading, a decline of 30% from the average daily volume of 2,354,648 shares. The stock had previously closed at $104.56.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AEHR shares. Craig Hallum upgraded shares of Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Wednesday, April 8th. William Blair raised Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. Weiss Ratings raised Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Wall Street Zen raised Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.00.

Aehr Test Systems Stock Down 7.4%

The company has a market cap of $3.04 billion, a P/E ratio of -254.58 and a beta of 3.26. The company has a 50 day moving average price of $59.74 and a 200-day moving average price of $37.46.

Aehr Test Systems (NASDAQ:AEHR) last released its quarterly earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. The company had revenue of $10.31 million during the quarter, compared to analysts’ expectations of $10.85 million. Aehr Test Systems had a negative return on equity of 7.15% and a negative net margin of 25.23%. On average, research analysts expect that Aehr Test Systems will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Alistair N. Sporck sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $93.50, for a total value of $187,000.00. Following the completion of the sale, the vice president owned 5,177 shares in the company, valued at $484,049.50. This represents a 27.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Laura Oliphant sold 4,665 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $85.59, for a total value of $399,277.35. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 382,184 shares of company stock valued at $28,362,244. 6.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aehr Test Systems

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of Aehr Test Systems by 0.8% during the fourth quarter. Millennium Management LLC now owns 59,219 shares of the semiconductor company’s stock valued at $1,196,000 after purchasing an additional 492 shares during the last quarter. State of Wyoming lifted its holdings in shares of Aehr Test Systems by 26.7% during the third quarter. State of Wyoming now owns 2,777 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 586 shares during the last quarter. KBC Group NV purchased a new stake in shares of Aehr Test Systems during the first quarter valued at $30,000. Sunbelt Securities Inc. purchased a new stake in shares of Aehr Test Systems during the third quarter valued at $27,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Aehr Test Systems by 3,448.3% during the third quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 1,000 shares during the last quarter. 69.69% of the stock is owned by hedge funds and other 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.