Aehr Test Systems (NASDAQ:AEHR) Shares Up 6.6% - What's Next?

Key Points

• Aehr Test Systems shares jumped 6.6% to $142.92, reaching an intraday high of $143.30, while trading volume fell 36% below the average.
• Analyst sentiment is broadly positive: the stock has a consensus “Buy” rating and an average price target of $136.67, though Jefferies initiated coverage with a higher $175 target.
• Insiders sold 109,475 shares worth $13.8 million over the past quarter, while institutional ownership remains high at 69.69%, including new stakes from BlackRock and Connor Clark & Lunn.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report)'s stock price rose 6.6% during trading on Monday . The company traded as high as $143.30 and last traded at $142.92. Approximately 1,563,712 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 2,430,250 shares. The stock had previously closed at $134.06.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AEHR. Craig Hallum reaffirmed a "buy" rating and set a $125.00 price objective 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. Wall Street Zen upgraded Aehr Test Systems from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. Weiss Ratings cut Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group started coverage on Aehr Test Systems in a research report on Thursday. They set a "buy" rating and a $175.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $136.67.

Aehr Test Systems Price Performance

The stock has a market capitalization of $4.71 billion, a P/E ratio of -602.22 and a beta of 3.10. The stock has a 50 day moving average price of $92.83 and a 200-day moving average price of $71.76.

Insider Buying and Selling at Aehr Test Systems

In other news, Director Rhea J. Posedel sold 8,413 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was 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 owned 387,962 shares of the company's stock, valued at approximately $50,435,060. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Adil Engineer sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $131.02, for a total transaction of $1,965,300.00. Following the completion of the transaction, the chief operating officer owned 46,977 shares in the company, valued at $6,154,926.54. This represents a 24.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 109,475 shares of company stock worth $13,827,160 over the last quarter. Company insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AEHR. BlackRock Inc. bought a new stake in Aehr Test Systems in the 2nd quarter worth $255,476,000. Vanguard Group Inc. raised its stake in shares of Aehr Test Systems by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,337,433 shares of the semiconductor company's stock valued at $47,193,000 after acquiring an additional 49,243 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Aehr Test Systems by 129.9% during the fourth quarter. Wellington Management Group LLP now owns 830,664 shares of the semiconductor company's stock worth $16,771,000 after purchasing an additional 469,400 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Aehr Test Systems by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 685,694 shares of the semiconductor company's stock worth $13,846,000 after purchasing an additional 5,591 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Aehr Test Systems in the second quarter worth about $64,433,000. 69.69% of the stock is owned by hedge funds and other 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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