BlackRock Inc. Acquires Shares of 2,659,542 Aehr Test Systems $AEHR

BlackRock Inc. acquired a new position in shares of Aehr Test Systems (NASDAQ:AEHR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,659,542 shares of the semiconductor company’s stock, valued at approximately $255,476,000. BlackRock Inc. owned approximately 0.08% of Aehr Test Systems at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deutsche Bank AG acquired a new stake in shares of Aehr Test Systems in the 2nd quarter valued at about $3,935,000. Rice Hall James & Associates LLC acquired a new position in Aehr Test Systems in the second quarter worth about $8,410,000. Global Retirement Partners LLC bought a new stake in Aehr Test Systems in the second quarter valued at about $134,000. Bank of New York Mellon Corp bought a new stake in Aehr Test Systems in the second quarter valued at about $8,988,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Aehr Test Systems in the second quarter valued at about $394,000. Institutional investors own 69.69% of the company’s stock.

Aehr Test Systems Stock Down 4.7%

AEHR opened at $91.12 on Thursday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -379.65 and a beta of 3.10. Aehr Test Systems has a fifty-two week low of $18.70 and a fifty-two week high of $147.40. The company’s 50-day moving average price is $93.62 and its 200 day moving average price is $76.40.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AEHR shares. Zacks Research raised Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Freedom Capital upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Jefferies Financial Group started coverage on Aehr Test Systems in a research report on Thursday, August 13th. They set a “buy” rating and a $175.00 price target on the stock. Lake Street Capital restated a “buy” rating and set a $110.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Finally, Weiss Ratings downgraded shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Aehr Test Systems presently has an average rating of “Buy” and an average price target of $136.67.

Insider Buying and Selling

In other news, Director Howard T. Slayen sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the completion of the transaction, the director directly owned 146,367 shares of the company’s stock, valued at approximately $15,851,546.10. This represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Adil Engineer sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $131.02, for a total value of $1,965,300.00. Following the sale, the chief operating officer owned 46,977 shares in the company, valued at $6,154,926.54. The trade was a 24.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 109,475 shares of company stock valued at $13,827,160 over the last 90 days. 6.80% of the stock is owned by corporate insiders.

Aehr Test Systems 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.