Algert Global LLC Takes $7.90 Million Position in Aehr Test Systems $AEHR

Key Points

• Algert Global LLC acquired 82,275 shares of Aehr Test Systems worth approximately $7.90 million, representing a 0.25% stake. Institutional investors and hedge funds collectively own 69.69% of the company.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and a $136.67 price target; Jefferies initiated coverage with a $175 target.
• Company insiders have been selling shares: the CEO and COO sold a combined $7.20 million worth on August 12, while insiders sold $13.83 million in stock over the past three months.

Algert Global LLC bought a new position in shares of Aehr Test Systems (NASDAQ:AEHR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 82,275 shares of the semiconductor company's stock, valued at approximately $7,903,000. Algert Global LLC owned 0.25% of Aehr Test Systems at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advocate Investing Services LLC acquired a new stake in Aehr Test Systems in the second quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Aehr Test Systems during the 2nd quarter valued at $34,000. KBC Group NV bought a new stake in Aehr Test Systems during the 1st quarter worth $30,000. Sunbelt Securities Inc. bought a new stake in Aehr Test Systems during the 3rd quarter worth $27,000. Finally, Tema ETFs LLC acquired a new position in Aehr Test Systems in the 2nd quarter worth about $89,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Aehr Test Systems Stock Performance

AEHR stock opened at $91.12 on Thursday. The stock's 50 day simple moving average is $93.62 and its 200 day simple moving average is $76.40. The company has a market cap of $2.97 billion, a P/E ratio of -379.65 and a beta of 3.10. Aehr Test Systems has a fifty-two week low of $18.70 and a fifty-two week high of $147.40.

Analyst Ratings Changes

AEHR has been the topic of several research reports. Craig Hallum restated a "buy" rating and set a $125.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Wall Street Zen raised shares of Aehr Test Systems from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Jefferies Financial Group initiated coverage on shares of Aehr Test Systems in a report on Thursday, August 13th. They set a "buy" rating and a $175.00 price target on the stock. Freedom Capital upgraded Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Finally, Zacks Research upgraded Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $136.67.

Insider Transactions at Aehr Test Systems

In other Aehr Test Systems news, COO Adil Engineer sold 15,000 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $131.02, for a total value of $1,965,300.00. Following the sale, the chief operating officer directly owned 46,977 shares in the company, valued at $6,154,926.54. The trade was a 24.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gayn Erickson sold 40,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were 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 owned 157,723 shares in the company, valued at $20,636,477.32. This represents a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 109,475 shares of company stock worth $13,827,160. 6.80% of the stock is owned by insiders.

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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