Aehr Test Systems (NASDAQ:AEHR) Trading 9.3% Higher - Still a Buy?

Key Points

• Aehr Test Systems shares rose 9.3% to approximately $83.36, with about 1.15 million shares traded, though volume was 53% below its average.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $136.67; Jefferies initiated coverage with a $175 target.
• Insiders sold 109,475 shares worth approximately $13.8 million over the past quarter, while institutional investors own 69.69% of the company.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report)'s stock price traded up 9.3% during trading on Friday . The stock traded as high as $83.73 and last traded at $83.3570. Approximately 1,145,518 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 2,430,485 shares. The stock had previously closed at $76.27.

Analyst Ratings Changes

A number of brokerages have weighed in on AEHR. Weiss Ratings downgraded shares of Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a report on Wednesday, July 29th. Jefferies Financial Group initiated coverage on shares of Aehr Test Systems in a report on Thursday, August 13th. They issued a "buy" rating and a $175.00 target price on the stock. Freedom Capital upgraded shares of Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Lake Street Capital reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Aehr Test Systems in a report on Wednesday, July 15th. Finally, Craig Hallum reiterated a "buy" rating and issued a $125.00 price target on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Aehr Test Systems presently has a consensus rating of "Buy" and a consensus target price of $136.67.

Aehr Test Systems Stock Performance

The stock's 50 day moving average price is $90.50 and its 200 day moving average price is $78.60. The company has a market capitalization of $2.75 billion, a P/E ratio of -351.69 and a beta of 3.06.

Insider Buying and Selling

In other Aehr Test Systems news, COO Adil Engineer sold 15,000 shares of Aehr Test Systems stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $131.02, for a total transaction of $1,965,300.00. Following the completion of the transaction, the chief operating officer owned 46,977 shares of the company's stock, valued at $6,154,926.54. The trade was a 24.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gayn Erickson sold 40,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was 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. The trade was 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 over the last quarter. Corporate insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Aehr Test Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in Aehr Test Systems during the fourth quarter valued at $25,000. Advocate Investing Services LLC bought a new stake in Aehr Test Systems in the 2nd quarter worth approximately $26,000. Sunbelt Securities Inc. bought a new stake in Aehr Test Systems in the third quarter worth $27,000. Nykredit A S purchased a new stake in shares of Aehr Test Systems during the 2nd quarter valued at about $28,000. Finally, State of Wyoming purchased a new stake in Aehr Test Systems during the second quarter valued at approximately $28,000. Institutional investors own 69.69% of the company's stock.

About Aehr Test Systems

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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