Aehr Test Systems (NASDAQ:AEHR) Trading Down 6.4% - Time to Sell?

Key Points

• Aehr Test Systems shares fell 6.4% to about $75.10 in midday trading, with volume significantly below the stock’s average session volume.
• Analyst sentiment remains broadly positive: the stock has an average “Buy” rating and a consensus price target of $136.67, although ratings range from “Strong Buy” to “Sell.”
• Insiders sold 109,475 shares worth approximately $13.8 million over the past 90 days, while institutional ownership remains high at 69.69% of outstanding shares.

Aehr Test Systems (NASDAQ:AEHR - Get Free Report)'s share price was down 6.4% during mid-day trading on Thursday . The company traded as low as $75.40 and last traded at $75.0970. Approximately 520,227 shares were traded during mid-day trading, a decline of 78% from the average session volume of 2,413,033 shares. The stock had previously closed at $80.24.

Analyst Ratings Changes

A number of brokerages have recently commented on AEHR. Wall Street Zen raised shares of Aehr Test Systems from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. Weiss Ratings downgraded shares of Aehr Test Systems from a "sell (d)" rating to a "sell (e+)" rating in a research note on Wednesday, July 29th. Craig Hallum restated a "buy" rating and issued a $125.00 price objective on shares of Aehr Test Systems in a report on Wednesday, July 15th. Lake Street Capital reaffirmed a "buy" rating and issued a $110.00 target price on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Finally, Freedom Capital upgraded Aehr Test Systems from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $136.67.

Aehr Test Systems Price Performance

The firm has a market capitalization of $2.55 billion, a P/E ratio of -324.88 and a beta of 3.06. The firm's 50 day moving average is $90.95 and its two-hundred day moving average is $78.27.

Insider Activity at Aehr Test Systems

In other Aehr Test Systems news, Director Rhea J. Posedel sold 8,413 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,093,690.00. Following the transaction, the director owned 387,962 shares of the company's stock, valued at $50,435,060. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adil Engineer sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $131.02, for a total value of $1,965,300.00. Following the completion of the sale, the chief operating officer owned 46,977 shares in the company, valued at $6,154,926.54. This represents a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 109,475 shares of company stock worth $13,827,160 over the last ninety days. Company insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in Aehr Test Systems by 7,836.7% during the 2nd quarter. California State Teachers Retirement System now owns 3,301,582 shares of the semiconductor company's stock valued at $317,150,000 after purchasing an additional 3,259,983 shares during the last quarter. BlackRock Inc. bought a new position in shares of Aehr Test Systems in the second quarter valued at about $255,476,000. Vanguard Group Inc. lifted its stake in shares of Aehr Test Systems by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,337,433 shares of the semiconductor company's stock worth $47,193,000 after buying an additional 49,243 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Aehr Test Systems by 129.9% during the 4th quarter. Wellington Management Group LLP now owns 830,664 shares of the semiconductor company's stock worth $16,771,000 after buying an additional 469,400 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Aehr Test Systems by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 685,694 shares of the semiconductor company's stock worth $13,846,000 after buying an additional 5,591 shares during the period. 69.69% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source