Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up – Still a Buy?

Shares of Aehr Test Systems (NASDAQ:AEHR) gapped up before the market opened on Wednesday . The stock had previously closed at $104.83, but opened at $114.46. Aehr Test Systems shares last traded at $116.6560, with a volume of 646,868 shares changing hands.

Analysts Set New Price Targets

AEHR has been the subject of a number of recent analyst reports. Craig Hallum upgraded shares of Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Aehr Test Systems from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. William Blair raised Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, March 2nd. Lake Street Capital reaffirmed a “buy” rating on shares of Aehr Test Systems in a research note on Wednesday, April 8th. Finally, Weiss Ratings raised Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Aehr Test Systems has an average rating of “Hold” and a consensus price target of $68.00.

Aehr Test Systems Stock Up 11.1%

The company’s fifty day moving average is $91.55 and its two-hundred day moving average is $51.46. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -307.82 and a beta of 3.17.

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

Insider Activity at Aehr Test Systems

In related news, VP Alistair N. Sporck sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $93.50, for a total value of $187,000.00. Following the completion of the sale, the vice president owned 5,177 shares in the company, valued at $484,049.50. This trade represents a 27.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Howard T. Slayen sold 6,819 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $104.73, for a total value of $714,153.87. Following the transaction, the director directly owned 169,709 shares in the company, valued at $17,773,623.57. This represents a 3.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 375,005 shares of company stock worth $28,656,178 in the last ninety days. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Aehr Test Systems

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Aehr Test Systems during the 4th quarter worth about $25,000. Sunbelt Securities Inc. acquired a new stake in shares of Aehr Test Systems during the 3rd quarter worth about $27,000. State of Wyoming acquired a new position in Aehr Test Systems in the 2nd quarter valued at $28,000. KBC Group NV acquired a new position in Aehr Test Systems in the 1st quarter valued at $30,000. Finally, Jones Financial Companies Lllp raised its holdings in Aehr Test Systems by 3,448.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 1,000 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors and hedge funds.

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.