Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Here’s Why

Aehr Test Systems (NASDAQ:AEHR) gapped down before the market opened on Tuesday . The stock had previously closed at $72.32, but opened at $66.41. Aehr Test Systems shares last traded at $67.2090, with a volume of 299,612 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on AEHR. 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. Weiss Ratings raised Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Wall Street Zen raised Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Lake Street Capital restated a “buy” rating on shares of Aehr Test Systems in a research note on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Aehr Test Systems currently has an average rating of “Hold” and an average target price of $68.00.

Aehr Test Systems Trading Down 9.9%

The company’s 50 day moving average price is $96.88 and its two-hundred day moving average price is $58.47. The firm has a market cap of $2.05 billion, a PE ratio of -171.49 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $10.85 million. Equities research analysts expect that Aehr Test Systems will post -0.31 earnings per share for the current fiscal year.

Insider Activity at Aehr Test Systems

In other Aehr Test Systems news, Director Rhea J. Posedel sold 30,000 shares of the business’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $70.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director owned 426,979 shares of the company’s stock, valued at approximately $29,888,530. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alberto Salamone sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 63,025 shares in the company, valued at $5,645,149.25. This trade represents a 19.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 375,005 shares of company stock valued at $28,656,178 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Aehr Test Systems

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Aehr Test Systems by 262.7% during the 1st quarter. Royal Bank of Canada now owns 50,207 shares of the semiconductor company’s stock valued at $365,000 after buying an additional 36,364 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Aehr Test Systems by 8.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,225 shares of the semiconductor company’s stock worth $126,000 after buying an additional 1,344 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 1,145 shares during the period. Legal & General Group Plc boosted its stake in shares of Aehr Test Systems by 110.8% in the second quarter. Legal & General Group Plc now owns 6,882 shares of the semiconductor company’s stock worth $89,000 after acquiring an additional 3,617 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Aehr Test Systems by 3.1% during the second quarter. Rhumbline Advisers now owns 41,466 shares of the semiconductor company’s stock worth $536,000 after purchasing an additional 1,254 shares in the last quarter. 69.69% of the stock is currently owned by institutional investors.

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.