Aehr Test Systems (NASDAQ:AEHR) Stock Price Down 9.2% – Here’s Why

Aehr Test Systems (NASDAQ:AEHR) shares traded down 9.2% on Friday. The stock traded as low as $55.31 and last traded at $55.4540. 502,061 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 2,523,556 shares. The stock had previously closed at $61.04.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Lake Street Capital lowered their target price on shares of Aehr Test Systems from $110.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. Wall Street Zen upgraded shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aehr Test Systems in a report on Tuesday, October 27th. Oppenheimer assumed coverage on shares of Aehr Test Systems in a research report on Thursday, September 10th. They issued an “outperform” rating and a $120.00 price objective on the stock. Finally, Jefferies Financial Group decreased their price objective on shares of Aehr Test Systems from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.75.

Aehr Test Systems Trading Down 6.7%

The company has a 50-day simple moving average of $77.96 and a 200 day simple moving average of $75.29. The company has a market cap of $1.87 billion, a P/E ratio of 1,424.50 and a beta of 3.36.

Aehr Test Systems (NASDAQ:AEHR) last released its earnings results on Monday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.17. The business had revenue of $33.01 million during the quarter, compared to the consensus estimate of $27.53 million. Aehr Test Systems had a return on equity of 1.76% and a net margin of 2.97%.

Hedge Funds Weigh In On Aehr Test Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Advocate Investing Services LLC purchased a new position in shares of Aehr Test Systems during the second quarter worth approximately $26,000. Fifth Third Bancorp purchased a new stake in shares of Aehr Test Systems in the third quarter valued at approximately $28,000. Nykredit A S bought a new position in Aehr Test Systems in the second quarter worth approximately $28,000. Compagnie Lombard Odier SCmA bought a new position in Aehr Test Systems in the second quarter worth approximately $34,000. Finally, KBC Group NV bought a new position in Aehr Test Systems in the first quarter worth approximately $30,000. 69.69% of the stock is currently owned by institutional investors.

About Aehr Test Systems

Aehr Test Systems designs, manufactures and markets semiconductor test and burn-in equipment and related products. Its systems are used to test devices at the wafer, die and packaged-chip stages of production. The company’s offerings include FOX series test and burn-in systems, WaferPak wafer-level contactors and DiePak carriers. These products support testing for applications such as silicon carbide power semiconductors, silicon photonics and other devices used in automotive, computing and communications markets.