Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up - Time to Buy?

Key Points

• Aehr Test Systems shares gapped higher, opening at $85.97 versus a prior close of $83.37, but later traded near $83.77.
• Analyst sentiment is broadly positive: the stock carries a consensus “Buy” rating and a $132.50 price target, with targets ranging from $110 to $175.
• Insiders sold 109,475 shares worth approximately $13.8 million over the past 90 days, while institutional investors own 69.69% of the company.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $83.37, but opened at $85.97. Aehr Test Systems shares last traded at $83.7720, with a volume of 368,842 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AEHR shares. Oppenheimer began coverage on Aehr Test Systems in a research note on Thursday, September 10th. They issued an "outperform" rating and a $120.00 price target on the stock. Weiss Ratings downgraded Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a research report on Wednesday, July 29th. Wall Street Zen raised Aehr Test Systems from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Lake Street Capital reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group started coverage on Aehr Test Systems in a research report on Thursday, August 13th. They issued a "buy" rating and a $175.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Aehr Test Systems has a consensus rating of "Buy" and a consensus price target of $132.50.

Aehr Test Systems Stock Performance

The firm has a market cap of $2.66 billion, a P/E ratio of -339.77 and a beta of 3.06. The company's 50 day moving average is $91.53 and its 200 day moving average is $81.47.

Insider Buying and Selling

In other Aehr Test Systems news, Director Howard T. Slayen sold 20,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 146,367 shares of the company's stock, valued at $15,851,546.10. This represents a 12.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gayn Erickson sold 40,000 shares of the 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 transaction, the chief executive officer owned 157,723 shares of the company's stock, valued at $20,636,477.32. This represents a 20.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 109,475 shares of company stock worth $13,827,160 in the last ninety days. Insiders own 4.60% of the company's stock.

Institutional Trading of Aehr Test Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advocate Investing Services LLC bought a new position in Aehr Test Systems in the 2nd quarter valued at approximately $26,000. Nykredit A S bought a new stake in Aehr Test Systems during the 2nd quarter worth approximately $28,000. KBC Group NV bought a new stake in Aehr Test Systems during the 1st quarter worth approximately $30,000. Compagnie Lombard Odier SCmA bought a new stake in Aehr Test Systems during the 2nd quarter worth approximately $34,000. Finally, Tema ETFs LLC acquired a new position in Aehr Test Systems in the 2nd quarter valued at approximately $89,000. 69.69% of the stock is currently owned by institutional investors.

Aehr Test Systems Company Profile

Aehr Test Systems NASDAQ: AEHR develops and manufactures semiconductor test and burn-in equipment used to verify the reliability and performance of integrated circuits, wafers and packaged devices. Its systems are designed to identify defects and reliability issues before semiconductor products are shipped to customers.

The company's product portfolio includes the FOX family of test and burn-in systems, along with wafer-level and packaged-device solutions such as WaferPak contactors and DiePak carriers.

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