Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Time to Sell?

Aehr Test Systems (NASDAQ:AEHR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $39.60, but opened at $36.23. Aehr Test Systems shares last traded at $40.2480, with a volume of 297,445 shares changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on AEHR shares. Zacks Research raised Aehr Test Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Lake Street Capital began coverage on Aehr Test Systems in a research report on Wednesday, December 17th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Aehr Test Systems in a research note on Wednesday, January 21st. William Blair raised Aehr Test Systems from a “market perform” rating to an “outperform” rating in a report on Monday, March 2nd. Finally, Craig Hallum reaffirmed a “hold” rating on shares of Aehr Test Systems in a report on Friday, January 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.00.

Aehr Test Systems Stock Performance

The business’s 50 day moving average is $33.67 and its two-hundred day moving average is $28.17. The firm has a market capitalization of $1.28 billion, a PE ratio of -138.82 and a beta of 2.28.

Aehr Test Systems (NASDAQ:AEHR) last posted its earnings results on Thursday, January 8th. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.04. Aehr Test Systems had a negative return on equity of 4.57% and a negative net margin of 16.63%.The firm had revenue of $9.88 million for the quarter, compared to the consensus estimate of $11.45 million. As a group, equities research analysts predict that Aehr Test Systems will post 0.1 EPS for the current year.

Insider Transactions at Aehr Test Systems

In other news, Director Rhea J. Posedel sold 13,998 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $30.02, for a total transaction of $420,219.96. Following the sale, the director directly owned 456,979 shares in the company, valued at $13,718,509.58. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Laura Oliphant sold 4,546 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $31.40, for a total transaction of $142,744.40. Following the completion of the sale, the director directly owned 18,432 shares in the company, valued at approximately $578,764.80. The trade was a 19.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Aehr Test Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of AEHR. Vanguard Group Inc. boosted its holdings in Aehr Test Systems by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,288,190 shares of the semiconductor company’s stock valued at $68,897,000 after purchasing an additional 65,444 shares during the period. KLCM Advisors Inc. increased its holdings in shares of Aehr Test Systems by 200.0% in the third quarter. KLCM Advisors Inc. now owns 75,000 shares of the semiconductor company’s stock worth $2,258,000 after purchasing an additional 50,000 shares during the period. HighTower Advisors LLC raised its position in shares of Aehr Test Systems by 485.1% in the third quarter. HighTower Advisors LLC now owns 78,340 shares of the semiconductor company’s stock worth $2,359,000 after buying an additional 64,950 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Aehr Test Systems in the third quarter worth $26,920,000. Finally, Bosun Asset Management LLC bought a new stake in Aehr Test Systems during the second quarter valued at $272,000. Institutional investors 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.