William Blair Investment Management LLC Lowers Position in Aehr Test Systems $AEHR

Key Points

• William Blair Investment Management reduced its Aehr Test Systems stake by 44.6% in the fourth quarter, though it still held 495,672 shares valued at about $10.0 million.
• Institutional ownership remains high, with 69.69% of Aehr Test Systems shares held by institutions; several firms, including Vanguard and Halter Ferguson Financial, increased their positions.
• Insider selling has been notable, including recent sales by the vice president and a director, while analysts currently have an average Hold rating and a $68 price target on the stock.

William Blair Investment Management LLC cut its holdings in shares of Aehr Test Systems (NASDAQ:AEHR - Free Report) by 44.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 495,672 shares of the semiconductor company's stock after selling 398,389 shares during the period. William Blair Investment Management LLC owned 1.62% of Aehr Test Systems worth $10,008,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Halter Ferguson Financial Inc. raised its position in shares of Aehr Test Systems by 41.7% in the 4th quarter. Halter Ferguson Financial Inc. now owns 642,129 shares of the semiconductor company's stock worth $12,965,000 after acquiring an additional 189,117 shares in the last quarter. UBS Group AG grew its holdings in shares of Aehr Test Systems by 55.7% during the fourth 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. Vanguard Group Inc. increased its position in shares of 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 valued at $47,193,000 after acquiring an additional 49,243 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Aehr Test Systems in the 4th quarter worth $407,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Aehr Test Systems during the 4th quarter worth about $180,000. 69.69% of the stock is owned by institutional investors.

Insider Transactions at Aehr Test Systems

In related news, VP Alistair N. Sporck sold 2,000 shares of Aehr Test Systems stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $93.50, for a total value of $187,000.00. Following the completion of the sale, the vice president owned 5,177 shares in the company, valued at approximately $484,049.50. This trade represents a 27.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard T. Slayen sold 6,819 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $104.73, for a total value of $714,153.87. Following the transaction, the director owned 169,709 shares in the company, valued at $17,773,623.57. This trade represents a 3.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 375,005 shares of company stock worth $28,656,178 in the last 90 days. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

AEHR has been the topic of a number of research reports. Wall Street Zen cut Aehr Test Systems from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Craig Hallum upgraded Aehr Test Systems from a "hold" rating to a "buy" rating and set a $68.00 price objective on the stock in a research report on Wednesday, April 8th. William Blair upgraded Aehr Test Systems from a "market perform" rating to an "outperform" rating in a research report on Monday, March 2nd. Weiss Ratings raised shares of Aehr Test Systems from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, May 4th. Finally, Lake Street Capital reiterated a "buy" rating on shares of Aehr Test Systems in a report on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $68.00.

Aehr Test Systems Trading Up 15.7%

Shares of AEHR stock opened at $109.92 on Wednesday. The company's 50-day moving average price is $71.82 and its 200-day moving average price is $42.85. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -289.26 and a beta of 3.26. Aehr Test Systems has a twelve month low of $9.14 and a twelve month high of $111.57.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report) last released its quarterly earnings data on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. Aehr Test Systems had a negative net margin of 25.23% and a negative return on equity of 7.15%. The firm had revenue of $10.31 million during the quarter, compared to analysts' expectations of $10.85 million. As a group, equities research analysts predict that Aehr Test Systems will post -0.31 EPS for the current year.

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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