Shares of Aehr Test Systems (NASDAQ:AEHR – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $104.83, but opened at $114.46. Aehr Test Systems shares last traded at $116.6560, with a volume of 646,868 shares trading hands.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on AEHR shares. William Blair upgraded Aehr Test Systems from a “market perform” rating to an “outperform” rating in a report on Monday, March 2nd. Wall Street Zen raised shares of Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings raised shares of Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Lake Street Capital reissued a “buy” rating on shares of Aehr Test Systems in a research report on Wednesday, April 8th. Finally, Craig Hallum raised Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Wednesday, April 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.00.
Read Our Latest Report on Aehr Test Systems
Aehr Test Systems Trading Up 11.1%
Aehr Test Systems (NASDAQ:AEHR – Get Free Report) last posted its quarterly earnings data on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts predict that Aehr Test Systems will post -0.31 EPS for the current fiscal year.
Insider Buying and Selling
In other news, EVP Alberto Salamone sold 15,000 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $89.57, for a total value of $1,343,550.00. Following the completion of the transaction, the executive vice president owned 63,025 shares of the company’s stock, valued at $5,645,149.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Alistair N. Sporck sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president directly owned 5,177 shares in the company, valued at $484,049.50. The trade was a 27.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 375,005 shares of company stock worth $28,656,178 over the last ninety days. Company insiders own 6.80% of the company’s stock.
Hedge Funds Weigh In On Aehr Test Systems
Large investors have recently added to or reduced their stakes in the stock. Strait & Sound Wealth Management LLC acquired a new position in Aehr Test Systems during the first quarter worth about $349,000. Cim LLC acquired a new stake in shares of Aehr Test Systems in the first quarter valued at approximately $507,000. California State Teachers Retirement System increased its holdings in shares of Aehr Test Systems by 2,271.7% in the first quarter. California State Teachers Retirement System now owns 41,599 shares of the semiconductor company’s stock valued at $1,542,000 after purchasing an additional 39,845 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Aehr Test Systems by 15.3% in the first quarter. Royal Bank of Canada now owns 59,939 shares of the semiconductor company’s stock valued at $2,222,000 after purchasing an additional 7,968 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Aehr Test Systems in the first quarter valued at approximately $291,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.
Aehr Test Systems Company Profile
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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