Aehr Test Systems (NASDAQ:AEHR) Trading 6.6% Higher – Still a Buy?

Aehr Test Systems (NASDAQ:AEHR)’s share price rose 6.6% on Monday . The company traded as high as $143.30 and last traded at $142.92. Approximately 1,563,712 shares changed hands during trading, a decline of 36% from the average daily volume of 2,430,250 shares. The stock had previously closed at $134.06.

Analysts Set New Price Targets

AEHR has been the topic of a number of recent research reports. Zacks Research upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Lake Street Capital reissued a “buy” rating and set a $110.00 price target on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Weiss Ratings cut Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Jefferies Financial Group initiated coverage on shares of Aehr Test Systems in a research report on Thursday, August 13th. They issued a “buy” rating and a $175.00 price objective for the company. Finally, Freedom Capital raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Aehr Test Systems has a consensus rating of “Buy” and a consensus price target of $136.67.

Aehr Test Systems Price Performance

The stock has a 50-day moving average price of $94.41 and a 200-day moving average price of $73.26. The firm has a market capitalization of $4.02 billion, a PE ratio of -513.52 and a beta of 3.10.

Insider Buying and Selling

In related news, COO Adil Engineer sold 15,000 shares of the company’s stock in a transaction 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 sale, the chief operating officer directly owned 46,977 shares of the company’s stock, valued at $6,154,926.54. This represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rhea J. Posedel sold 8,413 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,093,690.00. Following the completion of the sale, the director directly owned 387,962 shares in the company, valued at $50,435,060. This represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 109,475 shares of company stock worth $13,827,160 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aehr Test Systems

Institutional investors have recently modified their holdings of the stock. Advocate Investing Services LLC acquired a new position in shares of Aehr Test Systems during the second quarter valued at $26,000. Compagnie Lombard Odier SCmA acquired a new position in Aehr Test Systems during the 2nd quarter valued at about $34,000. Millennium Management LLC raised its position in shares of Aehr Test Systems by 0.8% during the 4th quarter. Millennium Management LLC now owns 59,219 shares of the semiconductor company’s stock worth $1,196,000 after buying an additional 492 shares in the last quarter. KBC Group NV bought a new stake in shares of Aehr Test Systems during the 1st quarter worth about $30,000. Finally, CoreCap Advisors LLC lifted its stake in shares of Aehr Test Systems by 241.8% in the 2nd quarter. CoreCap Advisors LLC now owns 1,251 shares of the semiconductor company’s stock worth $120,000 after acquiring an additional 885 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

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.