Aehr Test Systems (NASDAQ:AEHR) Shares Up 5.8% – Here’s What Happened

Shares of Aehr Test Systems (NASDAQ:AEHR) were up 5.8% on Wednesday . The stock traded as high as $121.80 and last traded at $119.57. Approximately 1,327,226 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 2,365,548 shares. The stock had previously closed at $113.00.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AEHR shares. Craig Hallum raised Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, April 8th. Lake Street Capital reiterated a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. William Blair upgraded Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. Wall Street Zen lowered Aehr Test Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Aehr Test Systems currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Aehr Test Systems Stock Performance

The firm has a market capitalization of $3.62 billion, a PE ratio of -303.08 and a beta of 3.17. The firm has a fifty day moving average of $76.64 and a 200 day moving average of $44.92.

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

Insiders Place Their Bets

In related news, Director Howard T. Slayen sold 6,819 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $104.73, for a total transaction of $714,153.87. Following the completion of the transaction, the director owned 169,709 shares in the company, valued at $17,773,623.57. The trade was a 3.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura Oliphant sold 4,665 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $85.59, for a total value of $399,277.35. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 375,005 shares of company stock worth $28,656,178. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Aehr Test Systems by 262.7% during the first quarter. Royal Bank of Canada now owns 50,207 shares of the semiconductor company’s stock worth $365,000 after purchasing an additional 36,364 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $126,000 after buying an additional 1,344 shares during the period. JPMorgan Chase & Co. raised its position in Aehr Test Systems by 7.9% during the second quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 1,145 shares during the period. Legal & General Group Plc raised its position in Aehr Test Systems by 110.8% during 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 during the period. Finally, Rhumbline Advisers raised its position in Aehr Test Systems by 3.1% during 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 during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

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.