Aehr Test Systems $AEHR is Penbrook Management LLC's 9th Largest Position

Key Points

• Penbrook Management LLC cut its Aehr Test Systems stake by 30.8% in the first quarter, selling 35,385 shares and leaving it with 79,515 shares worth about $2.95 million. Aehr now ranks as Penbrook’s 9th largest holding, making up roughly 2.2% of its portfolio.
• Institutional ownership remains high, with about 69.69% of Aehr Test Systems shares held by hedge funds and other institutional investors. Several smaller funds recently opened new positions or increased their stakes.
• The company posted mixed quarterly results and saw insider selling: it reported a smaller-than-expected loss of $0.05 per share, while revenue missed estimates at $10.31 million. Insiders sold 375,005 shares over the last 90 days, and analysts currently rate the stock a consensus Hold with a $68 price target.

Penbrook Management LLC reduced its stake in shares of Aehr Test Systems (NASDAQ:AEHR - Free Report) by 30.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,515 shares of the semiconductor company's stock after selling 35,385 shares during the quarter. Aehr Test Systems comprises about 2.2% of Penbrook Management LLC's investment portfolio, making the stock its 9th biggest position. Penbrook Management LLC owned 0.25% of Aehr Test Systems worth $2,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AEHR. Sunbelt Securities Inc. purchased a new position in shares of Aehr Test Systems in the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Aehr Test Systems during the 4th quarter valued at $25,000. RiverPark Advisors LLC bought a new stake in Aehr Test Systems in the third quarter worth $42,000. State of Wyoming bought a new stake in Aehr Test Systems in the second quarter worth $28,000. Finally, Russell Investments Group Ltd. boosted its stake in Aehr Test Systems by 3,500.0% during the third quarter. Russell Investments Group Ltd. now owns 2,448 shares of the semiconductor company's stock worth $74,000 after buying an additional 2,380 shares during the period. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

Aehr Test Systems Stock Up 3.8%

Shares of Aehr Test Systems stock opened at $98.79 on Friday. The stock's fifty day moving average is $97.59 and its two-hundred day moving average is $55.59. Aehr Test Systems has a 52 week low of $11.76 and a 52 week high of $126.62. The company has a market capitalization of $3.11 billion, a PE ratio of -259.97 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. The company had revenue of $10.31 million during the quarter, compared to analyst estimates of $10.85 million. Aehr Test Systems had a negative net margin of 25.23% and a negative return on equity of 7.15%. As a group, research analysts anticipate that Aehr Test Systems will post -0.31 earnings per share for the current year.

Insider Transactions at Aehr Test Systems

In related news, EVP Alberto Salamone sold 15,000 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $89.57, for a total value of $1,343,550.00. Following the transaction, the executive vice president owned 63,025 shares of the company's stock, valued at $5,645,149.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rhea J. Posedel sold 17,115 shares of Aehr Test Systems stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $100.00, for a total value of $1,711,500.00. Following the sale, the director directly owned 45,261 shares of the company's stock, valued at approximately $4,526,100. This trade represents a 27.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 375,005 shares of company stock valued at $28,656,178 in the last ninety days. Corporate insiders own 6.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AEHR shares. William Blair raised shares of Aehr Test Systems from a "market perform" rating to an "outperform" rating in a research note on Monday, March 2nd. Wall Street Zen raised shares of Aehr Test Systems from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 6th. Lake Street Capital reiterated a "buy" rating on shares of Aehr Test Systems in a report on Wednesday, April 8th. Craig Hallum raised shares of Aehr Test Systems from a "hold" rating to a "buy" rating and set a $68.00 price objective on the stock in a research report on Wednesday, April 8th. Finally, Weiss Ratings raised shares of Aehr Test Systems from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $68.00.

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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