Aehr Test Systems (NASDAQ:AEHR) Stock Price Up 9.3% – Here’s Why

Shares of Aehr Test Systems (NASDAQ:AEHR) rose 9.3% during trading on Friday . The company traded as high as $83.73 and last traded at $83.3570. 1,145,518 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 2,430,485 shares. The stock had previously closed at $76.27.

Wall Street Analyst Weigh In

AEHR has been the subject of a number of analyst reports. Wall Street Zen upgraded Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Zacks Research upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Craig Hallum restated a “buy” rating and issued a $125.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Freedom Capital upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $136.67.

Aehr Test Systems Price Performance

The business’s fifty day simple moving average is $90.50 and its two-hundred day simple moving average is $78.60. The company has a market cap of $2.75 billion, a PE ratio of -351.69 and a beta of 3.06.

Insider Transactions at Aehr Test Systems

In related news, Director Howard Slayen sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total value of $2,166,000.00. Following the completion of the transaction, the director owned 146,367 shares of the company’s stock, valued at approximately $15,851,546.10. This represents a 12.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alberto Salamone sold 9,672 shares of the 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 transaction, the executive vice president owned 41,962 shares in the company, valued at $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. Insiders have sold 109,475 shares of company stock worth $13,827,160 over the last quarter. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AEHR. Advocate Investing Services LLC acquired a new position in Aehr Test Systems during the second quarter worth about $26,000. Nykredit A S purchased a new position in Aehr Test Systems during the second quarter worth about $28,000. Compagnie Lombard Odier SCmA purchased a new position in Aehr Test Systems during the second quarter worth about $34,000. Millennium Management LLC increased its position in shares of Aehr Test Systems by 0.8% during the fourth quarter. Millennium Management LLC now owns 59,219 shares of the semiconductor company’s stock valued at $1,196,000 after acquiring an additional 492 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Aehr Test Systems in the 1st quarter valued at approximately $30,000. Hedge funds and other 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.