Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down - Here's What Happened

Key Points

• Aehr Test Systems shares gapped down from a prior close of $79.98 to open at $75.61, later trading at $82.5350 on volume of 279,131 shares.
• Analyst sentiment remains positive overall, with a consensus “Buy” rating and an average price target of $117.50; recent targets include $125 from Craig Hallum and $110 from Lake Street Capital.
• Institutional investors own 69.69% of the company, while insiders own 6.80%; director Howard T. Slayen recently sold 6,819 shares for approximately $714,154.

Shares of Aehr Test Systems (NASDAQ:AEHR - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $79.98, but opened at $75.61. Aehr Test Systems shares last traded at $82.5350, with a volume of 279,131 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AEHR shares. 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. Craig Hallum reaffirmed a "buy" rating and set a $125.00 price target on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Lake Street Capital reiterated a "buy" rating and issued a $110.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Freedom Capital raised Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $117.50.

Aehr Test Systems Price Performance

The company has a market capitalization of $2.90 billion, a P/E ratio of -370.00 and a beta of 3.10. The firm has a fifty day moving average price of $91.31 and a 200-day moving average price of $65.90.

Insider Buying and Selling at Aehr Test Systems

In other Aehr Test Systems news, Director Howard T. Slayen sold 6,819 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $104.73, for a total transaction of $714,153.87. Following the completion of the transaction, the director owned 169,709 shares in the company, valued at $17,773,623.57. This trade represents 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 through this link. Insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Aehr Test Systems

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in Aehr Test Systems by 129.9% in the fourth quarter. Wellington Management Group LLP now owns 830,664 shares of the semiconductor company's stock worth $16,771,000 after acquiring an additional 469,400 shares during the period. Invesco Ltd. raised its holdings in Aehr Test Systems by 1,137.2% in the 3rd quarter. Invesco Ltd. now owns 366,570 shares of the semiconductor company's stock worth $11,037,000 after purchasing an additional 336,940 shares during the period. Next Century Growth Investors LLC raised its holdings in Aehr Test Systems by 99.9% in the 4th quarter. Next Century Growth Investors LLC now owns 552,506 shares of the semiconductor company's stock worth $11,155,000 after purchasing an additional 276,160 shares during the period. Halter Ferguson Financial Inc. lifted its position in Aehr Test Systems by 41.7% during the fourth quarter. Halter Ferguson Financial Inc. now owns 642,129 shares of the semiconductor company's stock valued at $12,965,000 after purchasing an additional 189,117 shares in the last quarter. Finally, Penn Capital Management Company LLC bought a new stake in Aehr Test Systems during the second quarter valued at about $14,476,000. 69.69% of the stock is currently owned by institutional investors.

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.

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