Legal & General Group Plc Buys Shares of 23,821 Aehr Test Systems $AEHR

Key Points

• Legal & General Group Plc acquired 23,821 shares of Aehr Test Systems in the second quarter, worth approximately $2.29 million and representing 0.07% of the company. Institutional investors collectively own 69.69% of AEHR.
• Analyst sentiment is broadly positive: MarketBeat reports an average “Buy” rating and an average price target of $136.67, with Jefferies assigning a $175 target.
• Company insiders sold 109,475 shares worth $13.83 million during the latest quarter. AEHR shares opened at $86.26, with a 12-month range of $18.70 to $147.40 and a market capitalization of approximately $2.81 billion.

Legal & General Group Plc acquired a new stake in shares of Aehr Test Systems (NASDAQ:AEHR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 23,821 shares of the semiconductor company's stock, valued at approximately $2,288,000. Legal & General Group Plc owned 0.07% of Aehr Test Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEHR. Caitong International Asset Management Co. Ltd purchased a new position in Aehr Test Systems during the fourth quarter valued at $25,000. Advocate Investing Services LLC bought a new stake in Aehr Test Systems during the second quarter valued at about $26,000. Sunbelt Securities Inc. purchased a new stake in Aehr Test Systems in the third quarter worth about $27,000. State of Wyoming purchased a new stake in Aehr Test Systems in the second quarter worth about $28,000. Finally, KBC Group NV purchased a new stake in Aehr Test Systems in the first quarter worth about $30,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AEHR shares. Weiss Ratings cut Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a research report on Wednesday, July 29th. Lake Street Capital reissued a "buy" rating and issued a $110.00 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. 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. 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. Finally, Zacks Research upgraded shares of 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 given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $136.67.

Insider Transactions at Aehr Test Systems

In related news, Director Rhea Posedel sold 8,413 shares of Aehr Test Systems stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $130.00, for a total value of $1,093,690.00. Following the completion of the transaction, the director owned 387,962 shares in the company, valued at approximately $50,435,060. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Howard Slayen sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total value of $2,166,000.00. Following the sale, the director directly owned 146,367 shares in the company, valued at $15,851,546.10. The trade was a 12.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 109,475 shares of company stock worth $13,827,160 in the last quarter. Company insiders own 6.80% of the company's stock.

Aehr Test Systems Stock Up 13.1%

Aehr Test Systems stock opened at $86.26 on Friday. The company's 50-day moving average price is $90.39 and its 200-day moving average price is $78.66. Aehr Test Systems has a twelve month low of $18.70 and a twelve month high of $147.40. 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 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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