Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Aehr Test Systems (NASDAQ:AEHR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 670,758 shares of the semiconductor company's stock, valued at approximately $64,433,000. Connor Clark & Lunn Investment Management Ltd. owned about 2.06% of Aehr Test Systems at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Aehr Test Systems during the fourth quarter worth about $25,000. Advocate Investing Services LLC bought a new stake in shares of Aehr Test Systems in the 2nd quarter valued at about $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Aehr Test Systems in the 3rd quarter valued at approximately $27,000. State of Wyoming bought a new position in Aehr Test Systems during the 2nd quarter worth approximately $28,000. Finally, KBC Group NV bought a new position in Aehr Test Systems during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 69.69% of the company's stock.
Analyst Ratings Changes
AEHR has been the subject of several recent analyst reports. Craig Hallum reaffirmed a "buy" rating and issued a $125.00 target price on shares of Aehr Test Systems in a research note on Wednesday, July 15th. 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. Weiss Ratings lowered shares of Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a report on Wednesday, July 29th. Freedom Capital upgraded shares of Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Finally, Wall Street Zen raised Aehr Test Systems from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $136.67.
Check Out Our Latest Report on AEHR
Aehr Test Systems Stock Performance
Shares of AEHR opened at $101.73 on Monday. The stock has a 50 day simple moving average of $94.63 and a 200 day simple moving average of $74.93. Aehr Test Systems has a 52-week low of $17.33 and a 52-week high of $147.40. The firm has a market capitalization of $3.32 billion, a PE ratio of -423.86 and a beta of 3.10.
Insider Transactions at Aehr Test Systems
In other news, CEO Gayn Erickson sold 40,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $130.84, for a total transaction of $5,233,600.00. Following the completion of the sale, the chief executive officer owned 157,723 shares of the company's stock, valued at $20,636,477.32. This represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Howard T. Slayen sold 20,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the sale, the director owned 146,367 shares in the company, valued at approximately $15,851,546.10. The trade was a 12.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 109,475 shares of company stock valued at $13,827,160. 6.80% of the stock is currently owned by insiders.
About Aehr Test Systems
(
Free Report)
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.
Further Reading
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