Aehr Test Systems (NASDAQ:AEHR) Trading Down 4.6% – Here’s Why

Aehr Test Systems (NASDAQ:AEHR) dropped 4.6% during mid-day trading on Wednesday . The stock traded as low as $91.31 and last traded at $91.1920. 347,841 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,416,925 shares. The stock had previously closed at $95.59.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AEHR. Weiss Ratings cut shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. Craig Hallum reissued a “buy” rating and set a $125.00 price target on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Lake Street Capital reissued a “buy” rating and issued a $110.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Freedom Capital upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, Zacks Research raised Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $136.67.

Aehr Test Systems Price Performance

The firm has a market cap of $3.02 billion, a PE ratio of -385.15 and a beta of 3.10. The stock has a 50-day moving average price of $94.05 and a 200 day moving average price of $75.92.

Insider Transactions at Aehr Test Systems

In related news, Director Laura Oliphant sold 1,717 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $133.00, for a total value of $228,361.00. Following the sale, the director directly owned 16,100 shares of the company’s stock, valued at approximately $2,141,300. This trade represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adil Engineer sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $131.02, for a total transaction of $1,965,300.00. Following the completion of the sale, the chief operating officer owned 46,977 shares of the company’s stock, valued at approximately $6,154,926.54. The trade was a 24.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 109,475 shares of company stock worth $13,827,160 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aehr Test Systems

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Aehr Test Systems during the 4th quarter valued at $25,000. Advocate Investing Services LLC acquired a new position in Aehr Test Systems in the second quarter valued at $26,000. Sunbelt Securities Inc. acquired a new position in Aehr Test Systems in the third quarter valued at $27,000. Nykredit A S purchased a new stake in Aehr Test Systems during the second quarter valued at about $28,000. Finally, State of Wyoming acquired a new stake in Aehr Test Systems during the second quarter worth about $28,000. 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.