Aehr Test Systems (NASDAQ:AEHR) Trading Down 4.6% - Here's Why

Key Points

• Aehr Test Systems shares fell 4.6% in mid-day trading to about $91.19, with trading volume down 86% from its average session volume.
• Analysts remain broadly bullish, with the stock carrying a consensus “Buy” rating and an average price target of $136.67; Jefferies initiated coverage with a $175 target.
• Insiders have been selling shares, including recent transactions by a director and the COO; insiders sold 109,475 shares worth approximately $13.8 million over the past three months.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report) shares were down 4.6% during mid-day trading on Wednesday . The stock traded as low as $91.31 and last traded at $91.1920. Approximately 347,841 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,416,925 shares. The stock had previously closed at $95.59.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AEHR shares. Jefferies Financial Group started coverage on shares of Aehr Test Systems in a research report on Thursday, August 13th. They set a "buy" rating and a $175.00 price objective for the company. Wall Street Zen upgraded shares of Aehr Test Systems from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Lake Street Capital reissued a "buy" rating and set a $110.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Freedom Capital upgraded shares of Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Finally, Craig Hallum reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Aehr Test Systems in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $136.67.

Aehr Test Systems Stock Down 3.3%

The company has a market cap of $3.02 billion, a price-to-earnings ratio of -385.15 and a beta of 3.10. The business has a fifty day simple moving average of $94.05 and a 200 day simple moving average of $75.92.

Insiders Place Their Bets

In related news, Director Howard T. Slayen sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the sale, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Adil Engineer sold 15,000 shares of the company's 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 transaction, the chief operating officer owned 46,977 shares in the company, valued at $6,154,926.54. The trade was a 24.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 109,475 shares of company stock worth $13,827,160. Insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Aehr Test Systems

Several institutional investors have recently modified their holdings of the company. Advocate Investing Services LLC purchased a new stake in Aehr Test Systems during the second quarter worth $26,000. Nykredit A S purchased a new position in shares of Aehr Test Systems in the second quarter valued at $28,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Aehr Test Systems during the 2nd quarter worth $34,000. KBC Group NV purchased a new stake in shares of Aehr Test Systems in the 1st quarter worth about $30,000. Finally, Sunbelt Securities Inc. acquired a new stake in Aehr Test Systems in the 3rd quarter valued at about $27,000. Hedge funds and other institutional investors own 69.69% of the company's stock.

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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