Aehr Test Systems (NASDAQ:AEHR) Trading 10.3% Higher - Should You Buy?

Key Points

• Aehr Test Systems shares jumped 10.3% to about $101.19, although trading volume was 61% below the stock’s average daily volume.
• Analysts maintain a consensus “Buy” rating with an average price target of $117.50; two analysts rate the stock a Strong Buy and three rate it a Buy.
• Institutional investors own approximately 69.69% of the company, while an insider recently sold 6,819 shares at an average price of $104.73.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report)'s stock price traded up 10.3% on Tuesday . The company traded as high as $101.78 and last traded at $101.19. 944,257 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 2,412,771 shares. The stock had previously closed at $91.71.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AEHR shares. Wall Street Zen upgraded shares of Aehr Test Systems from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. Zacks Research raised shares of Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Freedom Capital raised shares of Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Craig Hallum restated a "buy" rating and set a $125.00 price target on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Finally, Lake Street Capital reaffirmed a "buy" rating and issued a $110.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $117.50.

Aehr Test Systems Trading Up 18.5%

The stock has a market cap of $3.55 billion, a PE ratio of -453.11 and a beta of 3.10. The business has a 50-day moving average price of $91.25 and a 200 day moving average price of $66.36.

Insider Transactions at Aehr Test Systems

In other Aehr Test Systems news, Director Howard T. Slayen sold 6,819 shares of the company's 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 sale, the director directly owned 169,709 shares of the company's stock, valued at $17,773,623.57. This represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Aehr Test Systems

Several large investors have recently modified their holdings of the business. Penn Capital Management Company LLC purchased a new stake in shares of Aehr Test Systems during the 2nd quarter valued at approximately $14,476,000. Pictet Asset Management Holding SA grew its stake in Aehr Test Systems by 187.7% in the 2nd quarter. Pictet Asset Management Holding SA now owns 16,654 shares of the semiconductor company's stock valued at $1,600,000 after buying an additional 10,866 shares in the last quarter. Ethic Inc. purchased a new position in Aehr Test Systems in the 2nd quarter valued at approximately $215,000. Compagnie Lombard Odier SCmA purchased a new position in Aehr Test Systems in the 2nd quarter valued at approximately $34,000. Finally, Advocate Investing Services LLC bought a new stake in Aehr Test Systems during the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 69.69% of the company's stock.

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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