Aehr Test Systems $AEHR Shares Sold by Penn Capital Management Company LLC

Key Points

• Penn Capital cut its Aehr Test Systems stake by 12.2% in the third quarter, selling 18,353 shares; it still held 132,194 shares, valued at about $13.2 million.
• Aehr reported quarterly EPS of $0.28, beating the $0.11 consensus estimate, while revenue of $33.01 million topped forecasts of $27.53 million.
• Analysts have a “Moderate Buy” consensus and an average price target of $118.75; insiders have sold 86,475 shares worth about $11.35 million over the past 90 days.

Penn Capital Management Company LLC lessened its holdings in Aehr Test Systems (NASDAQ:AEHR - Free Report) by 12.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,194 shares of the semiconductor company's stock after selling 18,353 shares during the period. Penn Capital Management Company LLC owned 0.40% of Aehr Test Systems worth $13,190,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Aehr Test Systems by 13.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,799 shares of the semiconductor company's stock valued at $179,000 after purchasing an additional 216 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Aehr Test Systems by 8.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,925 shares of the semiconductor company's stock valued at $291,000 after purchasing an additional 224 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Aehr Test Systems by 3.2% in the second quarter. Arizona State Retirement System now owns 8,245 shares of the semiconductor company's stock valued at $792,000 after purchasing an additional 253 shares during the last quarter. Advocate Investing Services LLC acquired a new position in shares of Aehr Test Systems in the second quarter valued at $26,000. Finally, Nykredit A S bought a new position in shares of Aehr Test Systems in the second quarter valued at about $28,000. Institutional investors own 69.69% of the company's stock.

Aehr Test Systems Price Performance

NASDAQ:AEHR opened at $59.81 on Tuesday. The stock has a 50 day simple moving average of $79.34 and a 200 day simple moving average of $74.64. Aehr Test Systems has a 1-year low of $18.70 and a 1-year high of $147.40.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.17. Aehr Test Systems had a negative return on equity of 3.83% and a negative net margin of 14.25%. The business had revenue of $33.01 million during the quarter, compared to the consensus estimate of $27.53 million.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AEHR. Freedom Capital upgraded shares of Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Craig Hallum reaffirmed a "buy" rating and set a $125.00 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. Lake Street Capital decreased their price target on shares of Aehr Test Systems from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, November 3rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Aehr Test Systems in a research note on Tuesday, October 27th. Finally, Oppenheimer assumed coverage on shares of Aehr Test Systems in a report on Thursday, September 10th. They issued an "outperform" rating and a $120.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $118.75.

Insider Activity

In other news, COO Adil Engineer sold 15,000 shares of Aehr Test Systems stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $131.02, for a total transaction of $1,965,300.00. Following the completion of the sale, the chief operating officer owned 46,977 shares of the company's stock, valued at approximately $6,154,926.54. This trade represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard Slayen sold 5,700 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $133.03, for a total transaction of $758,271.00. Following the completion of the sale, the director directly owned 140,667 shares of the company's stock, valued at approximately $18,712,931.01. The trade was a 3.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 86,475 shares of company stock worth $11,350,750. Corporate insiders own 4.60% of the company's stock.

About Aehr Test Systems

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