Aehr Test Systems (NASDAQ:AEHR) Trading Up 9.5% – Still a Buy?

Aehr Test Systems (NASDAQ:AEHR)’s share price rose 9.5% on Wednesday . The stock traded as high as $101.57 and last traded at $103.3090. Approximately 282,392 shares were traded during trading, a decline of 88% from the average daily volume of 2,349,014 shares. The stock had previously closed at $94.31.

Wall Street Analysts Forecast Growth

AEHR has been the topic of several research reports. Craig Hallum raised Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Wednesday, April 8th. William Blair raised Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. Wall Street Zen raised Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings raised Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.00.

Aehr Test Systems Stock Down 0.2%

The company’s fifty day moving average price is $84.95 and its 200-day moving average price is $48.50. The stock has a market capitalization of $2.96 billion, a PE ratio of -248.97 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR) last released its earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. Aehr Test Systems had a negative net margin of 25.23% and a negative return on equity of 7.15%. The firm had revenue of $10.31 million during the quarter, compared to analyst estimates of $10.85 million. Equities research analysts anticipate that Aehr Test Systems will post -0.31 earnings per share for the current year.

Insider Activity

In related news, Director Howard T. Slayen sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $85.00, for a total value of $2,125,000.00. Following the completion of the transaction, the director directly owned 178,328 shares in the company, valued at $15,157,880. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alberto Salamone sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $89.57, for a total transaction of $1,343,550.00. Following the completion of the transaction, the executive vice president owned 63,025 shares of the company’s stock, valued at approximately $5,645,149.25. The trade was a 19.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 375,005 shares of company stock valued at $28,656,178. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aehr Test Systems

A number of hedge funds have recently added to or reduced their stakes in AEHR. Caitong International Asset Management Co. Ltd purchased a new position in Aehr Test Systems in the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. purchased a new position in Aehr Test Systems in the 3rd quarter worth approximately $27,000. State of Wyoming purchased a new position in Aehr Test Systems in the 2nd quarter worth approximately $28,000. KBC Group NV purchased a new position in Aehr Test Systems in the 1st quarter worth approximately $30,000. Finally, Jones Financial Companies Lllp raised its holdings in Aehr Test Systems by 3,448.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 1,000 shares during the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

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.