Fortitude Advisory Group L.L.C. Sells 14,350 Shares of Aehr Test Systems $AEHR

Key Points

• Fortitude Advisory Group reduced its Aehr Test Systems stake by 50%, selling 14,350 shares and retaining 14,332 shares valued at approximately $1.38 million. Institutional investors collectively own 69.69% of the company.
• Analyst sentiment remains broadly positive: Aehr has an average “Buy” rating and a consensus price target of $136.67, with Jefferies initiating coverage at “Buy” and a $175 target.
• Aehr shares opened at $86.26, compared with a 52-week range of $18.70 to $147.40. Insiders sold 109,475 shares worth about $13.83 million during the latest quarter.

Fortitude Advisory Group L.L.C. cut its stake in Aehr Test Systems (NASDAQ:AEHR - Free Report) by 50.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,332 shares of the semiconductor company's stock after selling 14,350 shares during the quarter. Fortitude Advisory Group L.L.C.'s holdings in Aehr Test Systems were worth $1,377,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Aehr Test Systems during the 4th quarter worth $25,000. Advocate Investing Services LLC purchased a new position in Aehr Test Systems in the second quarter valued at about $26,000. Sunbelt Securities Inc. bought a new position in Aehr Test Systems in the third quarter worth about $27,000. Nykredit A S bought a new position in Aehr Test Systems in the second quarter worth about $28,000. Finally, State of Wyoming purchased a new stake in shares of Aehr Test Systems during the second quarter valued at about $28,000. 69.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AEHR. Jefferies Financial Group initiated coverage on shares of Aehr Test Systems in a research report on Thursday, August 13th. They issued a "buy" rating and a $175.00 price objective on the stock. Lake Street Capital restated a "buy" rating and issued a $110.00 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 report on Friday, July 17th. Freedom Capital raised Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Finally, Wall Street Zen upgraded Aehr Test Systems from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $136.67.

Aehr Test Systems Stock Performance

Aehr Test Systems stock opened at $86.26 on Friday. The business's 50-day simple moving average is $90.39 and its two-hundred day simple moving average is $78.66. The company has a market cap of $2.81 billion, a PE ratio of -359.40 and a beta of 3.06. Aehr Test Systems has a fifty-two week low of $18.70 and a fifty-two week high of $147.40.

Insider Transactions at Aehr Test Systems

In other news, EVP Alberto Salamone sold 9,672 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $127.72, for a total value of $1,235,307.84. Following the sale, the executive vice president directly owned 41,962 shares of the company's stock, valued at $5,359,386.64. This represents a 18.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adil Engineer sold 15,000 shares of the firm's 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 transaction, the chief operating officer directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 109,475 shares of company stock valued at $13,827,160 over the last quarter. Company insiders own 6.80% of the company's stock.

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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