Aehr Test Systems (NASDAQ:AEHR) Upgraded at Freedom Capital

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

Several other analysts have also weighed in on the company. Lake Street Capital reissued a “buy” rating and issued a $110.00 target price on shares of Aehr Test Systems in a report on Wednesday. Weiss Ratings cut Aehr Test Systems from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday. Craig Hallum restated a “buy” rating and issued a $125.00 price objective on shares of Aehr Test Systems in a research report on Wednesday. Finally, Wall Street Zen raised Aehr Test Systems from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aehr Test Systems has a consensus rating of “Moderate Buy” and an average target price of $117.50.

Aehr Test Systems Price Performance

AEHR opened at $81.05 on Thursday. The stock has a market cap of $2.55 billion, a P/E ratio of -337.69 and a beta of 3.17. The stock’s 50 day simple moving average is $94.10 and its 200 day simple moving average is $61.57. Aehr Test Systems has a 1-year low of $14.99 and a 1-year high of $126.62.

Insider Activity at Aehr Test Systems

In other Aehr Test Systems news, Director Howard T. Slayen sold 6,819 shares of Aehr Test Systems stock in a transaction 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 owned 169,709 shares in the company, valued at $17,773,623.57. This trade represents a 3.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rhea J. Posedel sold 604 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $95.00, for a total transaction of $57,380.00. Following the sale, the director directly owned 396,375 shares of the company’s stock, valued at $37,655,625. This represents a 0.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 57,825 shares of company stock valued at $5,517,987 in the last ninety days. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aehr Test Systems

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Aehr Test Systems by 262.7% in the 1st quarter. Royal Bank of Canada now owns 50,207 shares of the semiconductor company’s stock worth $365,000 after purchasing an additional 36,364 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Aehr Test Systems by 8.5% in 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 in the last quarter. JPMorgan Chase & Co. grew its holdings 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 worth $201,000 after purchasing an additional 1,145 shares during the period. Legal & General Group Plc grew its holdings 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 worth $89,000 after purchasing an additional 3,617 shares during the period. Finally, Rhumbline Advisers increased its position in Aehr Test Systems by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 41,466 shares of the semiconductor company’s stock worth $536,000 after purchasing an additional 1,254 shares in 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.