Aehr Test Systems (NASDAQ:AEHR) Shares Up 5.3% - Here's Why

Key Points

• Aehr Test Systems shares rose 5.3% to about $102.56 in mid-day trading, with volume 31% below the average session level.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $132.50; Jefferies issued the highest target at $175.
• Insiders sold 109,475 shares worth approximately $13.8 million over the past three months, while institutional investors own 69.69% of the company.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report)'s share price rose 5.3% during mid-day trading on Friday. The stock traded as high as $103.48 and last traded at $102.5640. 1,695,836 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 2,463,333 shares. The stock had previously closed at $97.42.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AEHR shares. Lake Street Capital reissued a "buy" rating and set a $110.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Oppenheimer initiated coverage on shares of Aehr Test Systems in a research note on Thursday, September 10th. They set an "outperform" rating and a $120.00 target price for the company. Weiss Ratings lowered shares of Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a report on Wednesday, July 29th. Zacks Research cut Aehr Test Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Finally, Jefferies Financial Group initiated coverage on Aehr Test Systems in a research note on Thursday, August 13th. They issued a "buy" rating and a $175.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Aehr Test Systems has a consensus rating of "Moderate Buy" and an average target price of $132.50.

Aehr Test Systems Stock Performance

The firm has a 50-day moving average price of $94.46 and a 200-day moving average price of $84.42. The stock has a market cap of $3.39 billion, a PE ratio of -430.12 and a beta of 3.06.

Insiders Place Their Bets

In other Aehr Test Systems news, Director Howard Slayen sold 20,000 shares of Aehr Test Systems stock in a transaction dated Tuesday, August 4th. The shares were 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 directly owned 146,367 shares of the company's stock, valued at approximately $15,851,546.10. The trade was a 12.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rhea Posedel sold 8,413 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,093,690.00. Following the sale, the director owned 387,962 shares in the company, valued at approximately $50,435,060. The trade was a 2.12% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 109,475 shares of company stock valued at $13,827,160. 4.60% of the stock is owned by company insiders.

Institutional Trading of Aehr Test Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Advocate Investing Services LLC bought a new position in shares of Aehr Test Systems during the second quarter valued at $26,000. Nykredit A S bought a new stake in Aehr Test Systems in the 2nd quarter worth about $28,000. Compagnie Lombard Odier SCmA purchased a new position in Aehr Test Systems in the 2nd quarter worth about $34,000. KBC Group NV purchased a new position in Aehr Test Systems in the 1st quarter worth about $30,000. Finally, Tema ETFs LLC bought a new position in Aehr Test Systems during the 2nd quarter valued at about $89,000. Institutional investors own 69.69% of the company's stock.

About Aehr Test Systems

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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