Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up – What’s Next?

Aehr Test Systems (NASDAQ:AEHR)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $83.37, but opened at $85.97. Aehr Test Systems shares last traded at $83.7720, with a volume of 368,842 shares.

Wall Street Analyst Weigh In

AEHR has been the subject of a number of recent research reports. Zacks Research upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Jefferies Financial Group initiated coverage on Aehr Test Systems in a report on Thursday, August 13th. They set a “buy” rating and a $175.00 target price on the stock. Wall Street Zen raised Aehr Test Systems from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Lake Street Capital restated a “buy” rating and set a $110.00 price objective on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $132.50.

Aehr Test Systems Price Performance

The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -339.77 and a beta of 3.06. The firm’s fifty day moving average is $91.53 and its 200-day moving average is $81.47.

Insider Activity at Aehr Test Systems

In related news, Director Laura Oliphant sold 1,717 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $133.00, for a total transaction of $228,361.00. Following the sale, the director owned 16,100 shares in the company, valued at $2,141,300. This represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rhea Posedel sold 5,973 shares of Aehr Test Systems stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.00, for a total value of $836,220.00. Following the completion of the sale, the director owned 381,989 shares of the company’s stock, valued at approximately $53,478,460. The trade was a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 109,475 shares of company stock worth $13,827,160 over the last quarter. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in Aehr Test Systems by 7,836.7% in the second quarter. California State Teachers Retirement System now owns 3,301,582 shares of the semiconductor company’s stock worth $317,150,000 after purchasing an additional 3,259,983 shares during the period. BlackRock Inc. acquired a new position in shares of Aehr Test Systems during the second quarter valued at about $255,476,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Aehr Test Systems during the 2nd quarter worth about $64,433,000. AWM Investment Company Inc. bought a new position in shares of Aehr Test Systems during the 2nd quarter worth about $36,004,000. Finally, Next Century Growth Investors LLC grew its stake in shares of Aehr Test Systems by 99.9% in the 4th quarter. Next Century Growth Investors LLC now owns 552,506 shares of the semiconductor company’s stock valued at $11,155,000 after buying an additional 276,160 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

Aehr Test Systems Company Profile

Aehr Test Systems (NASDAQ: AEHR) develops and manufactures semiconductor test and burn-in equipment used to verify the reliability and performance of integrated circuits, wafers and packaged devices. Its systems are designed to identify defects and reliability issues before semiconductor products are shipped to customers.

The company’s product portfolio includes the FOX family of test and burn-in systems, along with wafer-level and packaged-device solutions such as WaferPak contactors and DiePak carriers.