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

Aehr Test Systems (NASDAQ:AEHR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $81.14, but opened at $86.00. Aehr Test Systems shares last traded at $82.1530, with a volume of 258,936 shares trading hands.

Analyst Ratings Changes

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

Aehr Test Systems Price Performance

The stock has a market cap of $2.64 billion, a P/E ratio of -220.66 and a beta of 3.26. The company has a fifty day moving average of $66.32 and a 200 day moving average of $40.41.

Aehr Test Systems (NASDAQ:AEHR) last announced its earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) EPS for the quarter, topping 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 firm had revenue of $10.31 million for the quarter, compared to analysts’ expectations of $10.85 million. As a group, analysts anticipate that Aehr Test Systems will post -0.31 EPS for the current year.

Insider Activity

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 sale, the director owned 169,709 shares of the company’s stock, valued at $17,773,623.57. The trade was a 3.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alberto Salamone sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $89.57, for a total value of $1,343,550.00. Following the sale, the executive vice president directly owned 63,025 shares in the company, valued at approximately $5,645,149.25. The trade was a 19.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 375,005 shares of company stock valued at $28,656,178 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AEHR. Caitong International Asset Management Co. Ltd bought a new position in shares of Aehr Test Systems in the fourth quarter valued at $25,000. Sunbelt Securities Inc. bought a new position in shares of Aehr Test Systems in the third quarter valued at $27,000. State of Wyoming bought a new position in shares of Aehr Test Systems in the second quarter valued at $28,000. KBC Group NV bought a new position in shares of Aehr Test Systems in the first quarter valued at $30,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Aehr Test Systems by 3,448.3% in the third quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 1,000 shares in the last quarter. Institutional investors 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.