Royal Bank of Canada Buys 7,968 Shares of Aehr Test Systems $AEHR

Key Points

• Royal Bank of Canada increased its Aehr Test Systems stake by 15.3% in the first quarter, purchasing 7,968 additional shares to bring its holdings to 59,939 shares valued at approximately $2.22 million.
• Institutional ownership remains substantial at 69.69%, with Vanguard, Halter Ferguson Financial and UBS among investors that increased their positions.
• Analyst sentiment is broadly positive, with the stock carrying an average “Buy” rating and a $136.67 target price, although insiders sold 109,475 shares worth $13.83 million over the past 90 days.

Royal Bank of Canada lifted its stake in shares of Aehr Test Systems (NASDAQ:AEHR - Free Report) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,939 shares of the semiconductor company's stock after purchasing an additional 7,968 shares during the period. Royal Bank of Canada owned approximately 0.19% of Aehr Test Systems worth $2,222,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Aehr Test Systems by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,337,433 shares of the semiconductor company's stock worth $47,193,000 after purchasing an additional 49,243 shares during the last quarter. Halter Ferguson Financial Inc. lifted its holdings in Aehr Test Systems by 41.7% during the 4th quarter. Halter Ferguson Financial Inc. now owns 642,129 shares of the semiconductor company's stock worth $12,965,000 after buying an additional 189,117 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Aehr Test Systems in the 4th quarter valued at $377,000. UBS Group AG boosted its position in Aehr Test Systems by 55.7% in the 4th quarter. UBS Group AG now owns 243,129 shares of the semiconductor company's stock valued at $4,909,000 after buying an additional 87,014 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Aehr Test Systems in the 1st quarter valued at $291,000. 69.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AEHR. Weiss Ratings lowered Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded Aehr Test Systems from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. Freedom Capital raised Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Jefferies Financial Group initiated coverage on shares of Aehr Test Systems in a research report on Thursday. They set a "buy" rating and a $175.00 target price on the stock. Finally, Zacks Research raised shares of Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $136.67.

Aehr Test Systems Stock Up 8.6%

AEHR stock opened at $145.61 on Tuesday. The business's fifty day moving average is $93.83 and its 200-day moving average is $72.59. The company has a market cap of $4.75 billion, a P/E ratio of -606.68 and a beta of 3.10. Aehr Test Systems has a twelve month low of $16.38 and a twelve month high of $147.40.

Insiders Place Their Bets

In other Aehr Test Systems news, EVP Alberto Salamone sold 9,672 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $127.72, for a total value of $1,235,307.84. Following the transaction, the executive vice president owned 41,962 shares of the company's stock, valued at approximately $5,359,386.64. This represents a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Adil Engineer sold 15,000 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer owned 46,977 shares in the company, valued at approximately $6,154,926.54. This trade represents a 24.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 109,475 shares of company stock valued at $13,827,160 in the last ninety days. 6.80% of the stock is currently owned by insiders.

Aehr Test Systems 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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