Aehr Test Systems (NASDAQ:AEHR) Reaches New 12-Month High – Here’s Why

Aehr Test Systems (NASDAQ:AEHR) shares hit a new 52-week high during trading on Monday . The stock traded as high as $126.62 and last traded at $121.76, with a volume of 518615 shares traded. The stock had previously closed at $108.47.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEHR. Wall Street Zen upgraded Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Lake Street Capital reiterated a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. William Blair upgraded Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. 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 research report on Wednesday, April 8th. Finally, Weiss Ratings upgraded Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.00.

Aehr Test Systems Trading Up 9.9%

The company has a fifty day simple moving average of $88.91 and a 200-day simple moving average of $50.22. The company has a market capitalization of $3.75 billion, a PE ratio of -314.41 and a beta of 3.18.

Aehr Test Systems (NASDAQ:AEHR) last issued its earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $10.31 million during the quarter, compared to analysts’ expectations of $10.85 million. Aehr Test Systems had a negative return on equity of 7.15% and a negative net margin of 25.23%. On average, equities analysts predict that Aehr Test Systems will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling at Aehr Test Systems

In other news, EVP Alberto Salamone sold 15,000 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $89.57, for a total transaction of $1,343,550.00. Following the completion of the transaction, the executive vice president directly owned 63,025 shares in the company, valued at approximately $5,645,149.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rhea J. Posedel sold 30,000 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $70.00, for a total value of $2,100,000.00. Following the transaction, the director owned 426,979 shares of the company’s stock, valued at approximately $29,888,530. This represents a 6.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 375,005 shares of company stock worth $28,656,178. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Aehr Test Systems

A number of hedge funds have recently modified their holdings of AEHR. Caitong International Asset Management Co. Ltd purchased a new position in shares of Aehr Test Systems during the 4th quarter worth $25,000. Sunbelt Securities Inc. acquired a new position in Aehr Test Systems during the third quarter worth $27,000. State of Wyoming acquired a new position in Aehr Test Systems during the second quarter worth $28,000. KBC Group NV acquired a new position in Aehr Test Systems during the first quarter worth $30,000. Finally, Jones Financial Companies Lllp lifted its stake in Aehr Test Systems by 3,448.3% during the third quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

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.