Aehr Test Systems (NASDAQ:AEHR) Stock Price Up 8.9% - Here's What Happened

Key Points

• Aehr Test Systems experienced an 8.9% increase in stock price, trading at $30.86 after closing at $28.33, despite a significant drop in trading volume.
• The company reported a quarterly earnings result of ($0.01) EPS, surpassing analysts' estimates, although revenue was slightly below expectations at $14.10 million.
• Recent insider trading included significant sell-offs by directors, with a total of 26,000 shares sold in the last 90 days, representing a notable decrease in their positions.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report)'s stock price rose 8.9% on Thursday . The stock traded as high as $30.48 and last traded at $30.86. Approximately 717,688 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 1,229,344 shares. The stock had previously closed at $28.33.

Aehr Test Systems Trading Down 2.0%

The firm's 50-day simple moving average is $21.48 and its 200 day simple moving average is $13.91. The stock has a market cap of $897.60 million, a P/E ratio of -230.37 and a beta of 2.53.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 8th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Aehr Test Systems had a negative return on equity of 0.15% and a negative net margin of 6.63%.The business had revenue of $14.10 million during the quarter, compared to the consensus estimate of $14.83 million. On average, analysts anticipate that Aehr Test Systems will post 0.1 EPS for the current year.

Insider Activity at Aehr Test Systems

In other news, Director Rhea J. Posedel sold 18,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $19.83, for a total transaction of $356,940.00. Following the completion of the transaction, the director owned 71,163 shares in the company, valued at approximately $1,411,162.29. This trade represents a 20.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Alistair N. Sporck sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $14.13, for a total transaction of $42,390.00. Following the completion of the sale, the vice president owned 30,808 shares in the company, valued at $435,317.04. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,000 shares of company stock valued at $506,830 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aehr Test Systems

A number of institutional investors have recently bought and sold shares of the stock. CWM LLC grew its position in Aehr Test Systems by 15.1% during the 2nd quarter. CWM LLC now owns 6,062 shares of the semiconductor company's stock worth $78,000 after purchasing an additional 793 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 buying an additional 1,145 shares during the period. Osaic Holdings Inc. lifted its stake in Aehr Test Systems by 1.9% in the 2nd quarter. Osaic Holdings Inc. now owns 63,608 shares of the semiconductor company's stock worth $822,000 after acquiring an additional 1,210 shares in the last quarter. Rhumbline Advisers boosted its position in Aehr Test Systems by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 41,466 shares of the semiconductor company's stock worth $536,000 after acquiring an additional 1,254 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Aehr Test Systems by 8.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,225 shares of the semiconductor company's stock valued at $126,000 after acquiring an additional 1,344 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company's stock.

Aehr Test Systems Company Profile

Aehr Test Systems provides test solutions for testing, burning-in, and semiconductor devices in wafer level, singulated die, and package part form, and installed systems worldwide. Its product portfolio includes FOX-XP and FOX-NP systems that are full wafer contact and singulated die/module test and burn-in systems that can test, burn-in, and stabilize range of devices, including silicon carbide-based and other power semiconductors, 2D and 3D sensors used in mobile phones, tablets and other computing devices, memory semiconductors, processors, microcontrollers, systems-on-a-chip, and photonics and integrated optical devices.