Aehr Test Systems (NASDAQ:AEHR) Stock Price Down 6.5% – Here’s What Happened

Aehr Test Systems (NASDAQ:AEHR)’s stock price fell 6.5% during trading on Thursday . The stock traded as low as $80.41 and last traded at $78.9420. 299,822 shares changed hands during trading, a decline of 87% from the average session volume of 2,248,701 shares. The stock had previously closed at $84.43.

Analyst Ratings Changes

A number of research firms recently weighed in on AEHR. Lake Street Capital restated a “buy” rating on shares of Aehr Test Systems in a report on Wednesday, April 8th. Wall Street Zen upgraded Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings raised Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Finally, Craig Hallum upgraded Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.00.

Aehr Test Systems Price Performance

The company’s fifty day moving average price is $97.34 and its 200 day moving average price is $57.87. The company has a market cap of $2.20 billion, a PE ratio of -184.11 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR) last released its quarterly earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share for the quarter, topping 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 business had revenue of $10.31 million for the quarter, compared to analysts’ expectations of $10.85 million. On average, analysts forecast that Aehr Test Systems will post -0.31 EPS for the current year.

Insider Activity

In other news, CEO Gayn Erickson sold 96,036 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $70.58, for a total value of $6,778,220.88. Following the transaction, the chief executive officer owned 197,723 shares in the company, valued at $13,955,289.34. The trade was a 32.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Alberto Salamone sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $89.57, for a total value of $1,343,550.00. Following the completion of the transaction, the executive vice president directly owned 63,025 shares of the company’s stock, valued at approximately $5,645,149.25. This represents a 19.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 375,005 shares of company stock worth $28,656,178. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. KBC Group NV purchased a new stake in shares of Aehr Test Systems during the 1st quarter valued at $30,000. Sunbelt Securities Inc. purchased a new position in shares of Aehr Test Systems in the 3rd quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in Aehr Test Systems during the fourth quarter valued at about $25,000. RiverPark Advisors LLC bought a new position in Aehr Test Systems during the third quarter valued at about $42,000. Finally, State of Wyoming bought a new position in Aehr Test Systems during the second quarter valued at about $28,000. 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.