Aehr Test Systems (NASDAQ:AEHR) Stock Falls 6.4% – Here’s Why

Shares of Aehr Test Systems (NASDAQ:AEHR) fell 6.4% during trading on Monday. The stock traded as low as $80.10 and last traded at $79.2630. Approximately 301,621 shares traded hands during trading, a decline of 88% from the average daily volume of 2,458,287 shares. The stock had previously closed at $84.64.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AEHR. Jefferies Financial Group assumed coverage on Aehr Test Systems in a research note on Thursday, August 13th. They issued a “buy” rating and a $175.00 price objective for the company. Lake Street Capital reiterated a “buy” rating and set a $110.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Weiss Ratings downgraded Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. Oppenheimer started coverage on shares of Aehr Test Systems in a report on Thursday, September 10th. They issued an “outperform” rating and a $120.00 price target on the stock. Finally, Wall Street Zen raised shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aehr Test Systems has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Aehr Test Systems Price Performance

The stock has a 50 day moving average price of $97.23 and a 200-day moving average price of $89.55.

Insider Buying and Selling at Aehr Test Systems

In other Aehr Test Systems news, Director Rhea Posedel sold 8,413 shares of Aehr Test Systems stock in a transaction dated 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 directly owned 387,962 shares in the company, valued at $50,435,060. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alberto Salamone sold 9,672 shares of Aehr Test Systems stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $127.72, for a total value of $1,235,307.84. Following the completion of the transaction, the executive vice president owned 41,962 shares of the company’s stock, valued at approximately $5,359,386.64. This trade represents a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 109,475 shares of company stock worth $13,827,160. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Aehr Test Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEHR. GAMMA Investing LLC lifted its position in shares of Aehr Test Systems by 13.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,799 shares of the semiconductor company’s stock valued at $179,000 after acquiring an additional 216 shares during the period. Arizona State Retirement System lifted its stake in Aehr Test Systems by 3.2% during the second quarter. Arizona State Retirement System now owns 8,245 shares of the semiconductor company’s stock worth $792,000 after purchasing an additional 253 shares during the last quarter. Advocate Investing Services LLC acquired a new stake in shares of Aehr Test Systems in the 2nd quarter valued at $26,000. Nykredit A S bought a new position in shares of Aehr Test Systems in the 2nd quarter valued at $28,000. Finally, Compagnie Lombard Odier SCmA bought a new position in Aehr Test Systems in the second quarter valued at about $34,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

About Aehr Test Systems

Aehr Test Systems (NASDAQ: AEHR) develops and manufactures test and burn-in equipment used by semiconductor manufacturers. Its systems are designed to identify reliability issues and manufacturing defects in integrated circuits, including devices tested at the wafer, die, and packaged-device levels.

The company’s product portfolio includes the FOX family of test and burn-in systems, WaferPak wafer-level test fixtures, and DiePak carriers for testing individual semiconductor dies. These solutions are used in the production of silicon carbide power semiconductors, silicon photonics devices, memory products, and other advanced semiconductor components.

Founded in 1977 and headquartered in Fremont, California, Aehr Test Systems serves semiconductor manufacturers and suppliers worldwide.