Aehr Test Systems (NASDAQ:AEHR) Stock Price Up 6.3% – Here’s Why

Shares of Aehr Test Systems (NASDAQ:AEHR) were up 6.3% during mid-day trading on Monday . The stock traded as high as $38.22 and last traded at $37.86. Approximately 626,725 shares were traded during trading, a decline of 59% from the average daily volume of 1,525,525 shares. The stock had previously closed at $35.61.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Lake Street Capital began coverage on Aehr Test Systems in a report on Wednesday, December 17th. They set a “buy” rating for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Aehr Test Systems in a report on Wednesday, January 21st. Craig Hallum reissued a “hold” rating on shares of Aehr Test Systems in a research report on Friday, January 9th. Zacks Research upgraded Aehr Test Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, William Blair raised Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Aehr Test Systems presently has an average rating of “Hold” and an average target price of $21.00.

Aehr Test Systems Price Performance

The company’s fifty day simple moving average is $29.17 and its 200-day simple moving average is $26.60. The firm has a market capitalization of $1.19 billion, a PE ratio of -128.96 and a beta of 2.22.

Aehr Test Systems (NASDAQ:AEHR) last issued its quarterly earnings data on Thursday, January 8th. The semiconductor company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.04. Aehr Test Systems had a negative return on equity of 4.57% and a negative net margin of 16.63%.The firm had revenue of $9.88 million during the quarter, compared to analyst estimates of $11.45 million. As a group, equities research analysts anticipate that Aehr Test Systems will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at Aehr Test Systems

In other news, Director Rhea J. Posedel sold 13,998 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $30.02, for a total transaction of $420,219.96. Following the transaction, the director owned 456,979 shares in the company, valued at $13,718,509.58. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Laura Oliphant sold 4,546 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $31.40, for a total transaction of $142,744.40. Following the completion of the transaction, the director directly owned 18,432 shares of the company’s stock, valued at $578,764.80. The trade was a 19.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Aehr Test Systems

Several large investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in Aehr Test Systems by 0.8% during the 4th quarter. Millennium Management LLC now owns 59,219 shares of the semiconductor company’s stock worth $1,196,000 after buying an additional 492 shares during the last quarter. State of Wyoming increased its stake in shares of Aehr Test Systems by 26.7% in the third quarter. State of Wyoming now owns 2,777 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 586 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Aehr Test Systems in the third quarter worth $27,000. Jones Financial Companies Lllp raised its holdings in shares of 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 during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Aehr Test Systems by 7.9% during the second quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 1,145 shares during the last quarter. 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.