Aehr Test Systems (NASDAQ:AEHR) Sets New 1-Year High - Still a Buy?

Key Points

• Aehr Test Systems hit a new 52-week high, trading as high as $103.83 before ending near $99.20, well above its previous close of $91.26.
• Analyst sentiment remains mixed: the stock has a consensus rating of Hold with a $68 target price, though recent actions included upgrades to Buy/Outperform from some firms.
• The company beat EPS expectations in its latest quarter, but revenue came in below estimates, and insiders have been selling shares while institutional ownership remains high at 69.69%.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $103.83 and last traded at $99.1950, with a volume of 3093577 shares changing hands. The stock had previously closed at $91.26.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings raised Aehr Test Systems from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday. Wall Street Zen raised shares of Aehr Test Systems from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 11th. William Blair upgraded shares of Aehr Test Systems from a "market perform" rating to an "outperform" rating in a report on Monday, March 2nd. Craig Hallum raised shares of Aehr Test Systems from a "hold" rating to a "buy" rating and set a $68.00 target price on the stock in a research note on Wednesday, April 8th. Finally, Lake Street Capital reiterated a "buy" rating on shares of Aehr Test Systems in a report on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Aehr Test Systems presently has a consensus rating of "Hold" and a consensus target price of $68.00.

Aehr Test Systems Stock Performance

The company has a 50 day moving average of $57.33 and a 200 day moving average of $36.42. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -256.21 and a beta of 3.26.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. The company had revenue of $10.31 million for the quarter, compared to analyst estimates of $10.85 million. Aehr Test Systems had a negative return on equity of 7.15% and a negative net margin of 25.23%. As a group, research analysts expect that Aehr Test Systems will post -0.31 EPS for the current fiscal year.

Insider Transactions at Aehr Test Systems

In related news, EVP Alberto Salamone sold 15,000 shares of Aehr Test Systems stock in a transaction that occurred on Monday, April 20th. The shares were 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 owned 63,025 shares in the company, valued at $5,645,149.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard T. Slayen sold 25,000 shares of the business's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $85.00, for a total transaction of $2,125,000.00. Following the transaction, the director owned 178,328 shares of the company's stock, valued at $15,157,880. This trade represents a 12.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 382,184 shares of company stock valued at $28,362,244 over the last quarter. Insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Aehr Test Systems

Several large investors have recently bought and sold shares of AEHR. State of Alaska Department of Revenue purchased a new stake in Aehr Test Systems during the 4th quarter worth about $377,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Aehr Test Systems in the 4th quarter valued at about $407,000. Vanguard Group Inc. increased its holdings in shares of Aehr Test Systems by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,288,190 shares of the semiconductor company's stock valued at $68,897,000 after acquiring an additional 65,444 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Aehr Test Systems by 485.1% during the 3rd quarter. HighTower Advisors LLC now owns 78,340 shares of the semiconductor company's stock worth $2,359,000 after acquiring an additional 64,950 shares in the last quarter. Finally, KLCM Advisors Inc. raised its position in shares of Aehr Test Systems by 200.0% during the 3rd quarter. KLCM Advisors Inc. now owns 75,000 shares of the semiconductor company's stock worth $2,258,000 after acquiring an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company's stock.

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.

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