Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up – Time to Buy?

Aehr Test Systems (NASDAQ:AEHR)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $59.57, but opened at $65.50. Aehr Test Systems shares last traded at $65.8990, with a volume of 662,390 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AEHR shares. Craig Hallum reaffirmed a “buy” rating and issued a $125.00 price target on shares of Aehr Test Systems in a report on Wednesday, July 15th. Wall Street Zen upgraded Aehr Test Systems from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Jefferies Financial Group decreased their target price on Aehr Test Systems from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 3rd. Freedom Capital raised Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Aehr Test Systems in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.75.

Aehr Test Systems Stock Up 14.0%

The firm’s 50-day moving average is $78.95 and its 200-day moving average is $74.79. The company has a market capitalization of $2.23 billion, a PE ratio of 1,699.52 and a beta of 3.36.

Aehr Test Systems (NASDAQ:AEHR) last released its earnings results on Monday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.17. Aehr Test Systems had a return on equity of 1.76% and a net margin of 2.97%. The business had revenue of $33.01 million for the quarter, compared to analysts’ expectations of $27.53 million.

Insider Activity at Aehr Test Systems

In related news, Director Rhea Posedel sold 5,973 shares of the business’s 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 in the company, valued at $53,478,460. The trade was a 1.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alberto Salamone sold 9,672 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $127.72, for a total value of $1,235,307.84. Following the completion of the sale, the executive vice president directly owned 41,962 shares of the company’s stock, valued at approximately $5,359,386.64. This represents a 18.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,345 shares of company stock valued at $2,829,799. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Aehr Test Systems

Several institutional investors and hedge funds have recently made changes to their positions in AEHR. Private Advisor Group LLC boosted its position in Aehr Test Systems by 31.1% during the third quarter. Private Advisor Group LLC now owns 5,750 shares of the semiconductor company’s stock valued at $573,000 after buying an additional 1,363 shares during the period. Voya Investment Management LLC increased its holdings in shares of Aehr Test Systems by 34.6% in the third quarter. Voya Investment Management LLC now owns 28,911 shares of the semiconductor company’s stock worth $2,880,000 after buying an additional 7,427 shares during the period. HighTower Advisors LLC purchased a new position in shares of Aehr Test Systems in the third quarter worth about $218,000. White Pine Capital LLC purchased a new position in shares of Aehr Test Systems in the third quarter worth about $831,000. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of Aehr Test Systems in the 3rd quarter valued at about $428,000. Institutional investors own 69.69% of the company’s stock.

Aehr Test Systems Company Profile

Aehr Test Systems designs, manufactures and markets semiconductor test and burn-in equipment and related products. Its systems are used to test devices at the wafer, die and packaged-chip stages of production. The company’s offerings include FOX series test and burn-in systems, WaferPak wafer-level contactors and DiePak carriers. These products support testing for applications such as silicon carbide power semiconductors, silicon photonics and other devices used in automotive, computing and communications markets.