Aehr Test Systems (NASDAQ:AEHR – Get Free Report) shot up 9.5% during mid-day trading on Wednesday . The company traded as high as $101.57 and last traded at $103.3090. 282,392 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,349,014 shares. The stock had previously closed at $94.31.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on AEHR. Weiss Ratings upgraded Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Wall Street Zen upgraded Aehr Test Systems from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Craig Hallum upgraded Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Wednesday, April 8th. William Blair upgraded Aehr Test Systems from a “market perform” rating to an “outperform” rating in a report on Monday, March 2nd. Finally, Lake Street Capital reiterated a “buy” rating on shares of Aehr Test Systems in a report on Wednesday, April 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.00.
Read Our Latest Stock Analysis on Aehr Test Systems
Aehr Test Systems Price Performance
Aehr Test Systems (NASDAQ:AEHR – Get Free Report) last issued its quarterly earnings data on Tuesday, April 7th. The semiconductor company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. Aehr Test Systems had a negative return on equity of 7.15% and a negative net margin of 25.23%.The firm had revenue of $10.31 million during the quarter, compared to analyst estimates of $10.85 million. On average, equities research analysts predict that Aehr Test Systems will post -0.31 EPS for the current year.
Insider Activity
In other news, VP Alistair N. Sporck sold 2,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $93.50, for a total transaction of $187,000.00. Following the completion of the sale, the vice president owned 5,177 shares in the company, valued at approximately $484,049.50. This represents a 27.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Howard T. Slayen sold 6,819 shares of the 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 sale, the director owned 169,709 shares of the company’s stock, valued at approximately $17,773,623.57. This represents a 3.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 375,005 shares of company stock worth $28,656,178. Company insiders own 6.80% of the company’s stock.
Institutional Trading of Aehr Test Systems
Several hedge funds and other institutional investors have recently made changes to their positions in AEHR. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Aehr Test Systems during the 4th quarter valued at $25,000. Sunbelt Securities Inc. acquired a new position in shares of Aehr Test Systems in the 3rd quarter valued at $27,000. State of Wyoming acquired a new position in shares of Aehr Test Systems in the 2nd quarter valued at $28,000. KBC Group NV acquired a new position in shares of Aehr Test Systems in the 1st quarter valued at $30,000. Finally, Jones Financial Companies Lllp increased its position in shares of Aehr Test Systems by 3,448.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 1,000 shares during the period. 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.
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