Aehr Test Systems (NASDAQ:AEHR – Get Free Report) shares dropped 6.3% during trading on Monday. The company traded as low as $96.51 and last traded at $97.8090. 568,991 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 2,458,868 shares. The stock had previously closed at $104.39.
Wall Street Analysts Forecast Growth
AEHR has been the subject of a number of research analyst reports. Zacks Research lowered Aehr Test Systems from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Craig Hallum restated a “buy” rating and issued a $125.00 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. Oppenheimer initiated coverage on shares of Aehr Test Systems in a research note on Thursday, September 10th. They set an “outperform” rating and a $120.00 target price for the company. Weiss Ratings cut Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group began coverage on Aehr Test Systems in a research note on Thursday, August 13th. They issued a “buy” rating and a $175.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $132.50.
Read Our Latest Stock Analysis on AEHR
Aehr Test Systems Stock Performance
Insider Activity at Aehr Test Systems
In other news, Director Rhea Posedel sold 8,413 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,093,690.00. Following the transaction, the director owned 387,962 shares of the company’s stock, valued at approximately $50,435,060. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gayn Erickson sold 40,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $130.84, for a total value of $5,233,600.00. Following the completion of the sale, the chief executive officer owned 157,723 shares in the company, valued at approximately $20,636,477.32. The trade was a 20.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 109,475 shares of company stock worth $13,827,160 in the last three months. 4.60% of the stock is owned by insiders.
Hedge Funds Weigh In On Aehr Test Systems
A number of institutional investors have recently modified their holdings of AEHR. Envestnet Asset Management Inc. bought a new position in Aehr Test Systems in the second quarter worth approximately $383,000. State Street Corp lifted its stake in Aehr Test Systems by 14.4% in the second quarter. State Street Corp now owns 712,926 shares of the semiconductor company’s stock worth $68,484,000 after acquiring an additional 89,620 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Aehr Test Systems by 33.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,480 shares of the semiconductor company’s stock worth $1,007,000 after acquiring an additional 2,624 shares in the last quarter. Tidal Investments LLC bought a new position in Aehr Test Systems during the 2nd quarter worth about $1,512,000. Finally, Engineers Gate Manager LP increased its position in Aehr Test Systems by 5.2% during the 2nd quarter. Engineers Gate Manager LP now owns 21,542 shares of the semiconductor company’s stock valued at $2,069,000 after purchasing an additional 1,069 shares during the period. 69.69% of the stock is owned by hedge funds and other institutional investors.
About Aehr Test Systems
Aehr Test Systems (NASDAQ: AEHR) develops and manufactures semiconductor test and burn-in equipment used to verify the reliability and performance of integrated circuits, wafers and packaged devices. Its systems are designed to identify defects and reliability issues before semiconductor products are shipped to customers.
The company’s product portfolio includes the FOX family of test and burn-in systems, along with wafer-level and packaged-device solutions such as WaferPak contactors and DiePak carriers.
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