Freedom Capital Upgrades Aehr Test Systems (NASDAQ:AEHR) to Strong-Buy

Aehr Test Systems (NASDAQ:AEHR) was upgraded by analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday. Lake Street Capital reaffirmed a “buy” rating and issued a $110.00 price target on shares of Aehr Test Systems in a report on Wednesday. Craig Hallum reiterated a “buy” rating and set a $125.00 price objective on shares of Aehr Test Systems in a research report on Wednesday. Finally, Weiss Ratings lowered Aehr Test Systems from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Aehr Test Systems currently has an average rating of “Moderate Buy” and a consensus price target of $117.50.

Aehr Test Systems Trading Down 3.7%

NASDAQ:AEHR opened at $81.05 on Thursday. The company has a 50-day moving average of $94.10 and a 200-day moving average of $61.57. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -337.69 and a beta of 3.17. Aehr Test Systems has a twelve month low of $14.99 and a twelve month high of $126.62.

Insider Activity

In other news, Director Howard T. Slayen sold 6,819 shares of Aehr Test Systems stock in a transaction that occurred on Wednesday, May 13th. The shares were 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 of the company’s stock, valued at $17,773,623.57. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Alistair N. Sporck sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $93.50, for a total transaction of $187,000.00. Following the sale, the vice president owned 5,177 shares in the company, valued at $484,049.50. This represents a 27.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,825 shares of company stock valued at $5,517,987 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Aehr Test Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Aehr Test Systems by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,337,433 shares of the semiconductor company’s stock worth $47,193,000 after acquiring an additional 49,243 shares during the period. Halter Ferguson Financial Inc. grew its stake in Aehr Test Systems by 41.7% during the 4th quarter. Halter Ferguson Financial Inc. now owns 642,129 shares of the semiconductor company’s stock valued at $12,965,000 after acquiring an additional 189,117 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Aehr Test Systems in the 4th quarter valued at about $377,000. UBS Group AG lifted its position in shares of Aehr Test Systems by 55.7% in the fourth quarter. UBS Group AG now owns 243,129 shares of the semiconductor company’s stock worth $4,909,000 after purchasing an additional 87,014 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Aehr Test Systems in the fourth quarter worth approximately $407,000. 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.