Aehr Test Systems (NASDAQ:AEHR) Trading Down 7.3% – Here’s Why

Aehr Test Systems (NASDAQ:AEHR) shares were down 7.3% during mid-day trading on Monday . The company traded as low as $86.51 and last traded at $88.9250. Approximately 953,160 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 2,247,674 shares. The stock had previously closed at $95.91.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AEHR shares. Craig Hallum upgraded Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Wednesday, April 8th. Wall Street Zen raised Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Aehr Test Systems in a research report on Monday, April 20th. William Blair raised Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. Finally, Lake Street Capital reissued a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Aehr Test Systems Trading Down 8.8%

The firm has a market capitalization of $2.75 billion, a PE ratio of -230.02 and a beta of 2.28. The business has a 50-day moving average of $49.36 and a 200 day moving average of $33.32.

Aehr Test Systems (NASDAQ:AEHR) last released its quarterly earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $10.31 million during the quarter, compared to analyst estimates 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, sell-side analysts expect that Aehr Test Systems will post -0.31 EPS for the current fiscal year.

Insider Activity

In other news, Director Rhea J. Posedel sold 17,115 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $100.00, for a total transaction of $1,711,500.00. Following the completion of the sale, the director directly owned 45,261 shares of the company’s stock, valued at $4,526,100. This trade represents a 27.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Howard T. Slayen sold 25,000 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $85.00, for a total value of $2,125,000.00. Following the sale, the director directly owned 178,328 shares of the company’s stock, valued at approximately $15,157,880. This represents a 12.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 382,184 shares of company stock worth $28,362,244. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Aehr Test Systems

Several large investors have recently made changes to their positions in AEHR. Royal Bank of Canada increased its position in shares of Aehr Test Systems by 262.7% during the 1st quarter. Royal Bank of Canada now owns 50,207 shares of the semiconductor company’s stock valued at $365,000 after purchasing an additional 36,364 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Aehr Test Systems by 8.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,225 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 1,344 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Aehr Test Systems by 7.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 1,145 shares during the last quarter. Legal & General Group Plc increased its position in shares of Aehr Test Systems by 110.8% during the 2nd quarter. Legal & General Group Plc now owns 6,882 shares of the semiconductor company’s stock valued at $89,000 after purchasing an additional 3,617 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Aehr Test Systems by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 41,466 shares of the semiconductor company’s stock valued at $536,000 after purchasing an additional 1,254 shares during the last quarter. 69.69% of the stock is 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.