Aehr Test Systems $AEHR Position Lessened by Bank of America Corp DE

Key Points

• Bank of America reduced its Aehr Test Systems position by 19.6% in the first quarter, selling 13,862 shares and retaining 56,800 shares valued at approximately $2.1 million. Institutional investors collectively own 69.69% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $136.67; Jefferies set the highest cited target at $175.
• Insiders have been selling shares, including CEO Gayn Erickson’s $5.2 million sale and Director Rhea Posedel’s $1.1 million sale. Over the past 90 days, insiders sold 109,475 shares worth about $13.8 million.

Bank of America Corp DE decreased its position in shares of Aehr Test Systems (NASDAQ:AEHR - Free Report) by 19.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,800 shares of the semiconductor company's stock after selling 13,862 shares during the period. Bank of America Corp DE owned 0.18% of Aehr Test Systems worth $2,106,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV acquired a new stake in shares of Aehr Test Systems during the 1st quarter valued at about $30,000. Sunbelt Securities Inc. acquired a new stake in Aehr Test Systems in the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Aehr Test Systems in the fourth quarter valued at approximately $25,000. State of Wyoming bought a new stake in Aehr Test Systems in the second quarter worth approximately $28,000. Finally, Russell Investments Group Ltd. grew its position in Aehr Test Systems by 3,500.0% in the third quarter. Russell Investments Group Ltd. now owns 2,448 shares of the semiconductor company's stock worth $74,000 after acquiring an additional 2,380 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company's stock.

Wall Street Analyst Weigh In

AEHR has been the topic of several analyst reports. Wall Street Zen upgraded shares of Aehr Test Systems from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Lake Street Capital reiterated a "buy" rating and issued a $110.00 price objective on shares of Aehr Test Systems in a report on Wednesday, July 15th. 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. Zacks Research raised Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Finally, Jefferies Financial Group assumed coverage on Aehr Test Systems in a research note on Thursday, August 13th. They set a "buy" rating and a $175.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $136.67.

Insider Transactions at Aehr Test Systems

In other news, CEO Gayn Erickson sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $130.84, for a total value of $5,233,600.00. Following the completion of the sale, the chief executive officer directly owned 157,723 shares of the company's stock, valued at approximately $20,636,477.32. This represents a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rhea J. Posedel sold 8,413 shares of the firm's stock in a transaction 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 in the company, valued at approximately $50,435,060. The trade was a 2.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 109,475 shares of company stock worth $13,827,160. Corporate insiders own 6.80% of the company's stock.

Aehr Test Systems Trading Up 4.8%

NASDAQ AEHR opened at $80.24 on Thursday. The company has a fifty day simple moving average of $90.95 and a 200 day simple moving average of $78.27. The company has a market cap of $2.62 billion, a P/E ratio of -334.32 and a beta of 3.06. Aehr Test Systems has a 1 year low of $18.70 and a 1 year high of $147.40.

About Aehr Test Systems

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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