Aehr Test Systems (NASDAQ:AEHR) Shares Up 3.9% - Here's Why

Key Points

• Aehr Test Systems shares rose 3.9% to about $99.32 in Thursday trading, with volume falling 58% below the average daily level.
• Analyst sentiment remains broadly positive: the stock carries a consensus “Buy” rating and a $132.50 target price, with recent targets ranging from $110 to $125 and Oppenheimer initiating coverage with a $120 target.
• Insiders have sold 109,475 shares worth approximately $13.8 million over the past 90 days, while institutional investors and hedge funds own 69.69% of the company.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report)'s share price rose 3.9% on Thursday . The company traded as high as $99.06 and last traded at $99.3220. 1,037,876 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 2,460,646 shares. The stock had previously closed at $95.56.

Wall Street Analysts Forecast Growth

AEHR has been the subject of several research reports. Lake Street Capital reiterated a "buy" rating and set a $110.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Wall Street Zen upgraded Aehr Test Systems from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. Weiss Ratings lowered Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a research note on Wednesday, July 29th. Oppenheimer assumed coverage on Aehr Test Systems in a research report on Thursday. They set an "outperform" rating and a $120.00 price target for the company. Finally, Craig Hallum reissued a "buy" rating and issued a $125.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Aehr Test Systems has an average rating of "Buy" and a consensus target price of $132.50.

Aehr Test Systems Stock Up 3.9%

The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -411.94 and a beta of 3.06. The business's 50-day moving average is $90.33 and its two-hundred day moving average is $80.31.

Insider Transactions at Aehr Test Systems

In other Aehr Test Systems news, Director Laura Oliphant sold 1,717 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $133.00, for a total value of $228,361.00. Following the completion of the sale, the director directly owned 16,100 shares in the company, valued at $2,141,300. This represents a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rhea J. Posedel sold 5,973 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.00, for a total value of $836,220.00. Following the completion of the sale, the director directly owned 381,989 shares of the company's stock, valued at $53,478,460. This trade represents a 1.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 109,475 shares of company stock valued at $13,827,160. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aehr Test Systems

Several hedge funds and other institutional investors have recently bought and sold shares of AEHR. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Aehr Test Systems in the 4th quarter valued at approximately $25,000. Advocate Investing Services LLC purchased a new position in Aehr Test Systems in the second quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new stake in Aehr Test Systems during the third quarter worth $27,000. Nykredit A S acquired a new stake in Aehr Test Systems during the second quarter worth $28,000. Finally, State of Wyoming purchased a new position in shares of Aehr Test Systems during the 2nd quarter worth $28,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.

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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