Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up – What’s Next?

Aehr Test Systems (NASDAQ:AEHR) gapped up prior to trading on Tuesday . The stock had previously closed at $86.26, but opened at $90.39. Aehr Test Systems shares last traded at $91.7720, with a volume of 1,472,161 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on AEHR. Jefferies Financial Group started coverage on Aehr Test Systems in a research note on Thursday, August 13th. They set a “buy” rating and a $175.00 price objective on the stock. Weiss Ratings lowered Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. Craig Hallum reaffirmed a “buy” rating and issued a $125.00 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. Zacks Research upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Freedom Capital raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Aehr Test Systems currently has a consensus rating of “Buy” and a consensus price target of $132.50.

Aehr Test Systems Stock Performance

The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -398.15 and a beta of 3.06. The firm has a fifty day moving average price of $90.33 and a 200-day moving average price of $80.31.

Insider Transactions at Aehr Test Systems

In related news, CEO Gayn Erickson sold 40,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $130.84, for a total transaction of $5,233,600.00. Following the sale, the chief executive officer owned 157,723 shares in the company, valued at $20,636,477.32. The trade was a 20.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rhea J. Posedel sold 8,413 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $130.00, for a total value of $1,093,690.00. Following the completion of the transaction, the director directly owned 387,962 shares of the company’s stock, valued at $50,435,060. This represents a 2.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 109,475 shares of company stock valued at $13,827,160. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Aehr Test Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in Aehr Test Systems by 33.4% during the second quarter. The Manufacturers Life Insurance Company now owns 10,480 shares of the semiconductor company’s stock valued at $1,007,000 after acquiring an additional 2,624 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Aehr Test Systems during the 2nd quarter valued at about $1,512,000. Engineers Gate Manager LP grew its stake in Aehr Test Systems by 5.2% during the second quarter. Engineers Gate Manager LP now owns 21,542 shares of the semiconductor company’s stock worth $2,069,000 after purchasing an additional 1,069 shares during the period. IFP Advisors Inc bought a new stake in Aehr Test Systems in the second quarter worth approximately $166,000. Finally, Arizona State Retirement System lifted its stake in Aehr Test Systems by 3.2% in the second quarter. Arizona State Retirement System now owns 8,245 shares of the semiconductor company’s stock valued at $792,000 after buying an additional 253 shares during the period. 69.69% of the stock is owned by institutional investors and hedge funds.

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.