Aehr Test Systems (NASDAQ:AEHR) Shares Down 6.4% – What’s Next?

Shares of Aehr Test Systems (NASDAQ:AEHR) traded down 6.4% during mid-day trading on Wednesday . The company traded as low as $102.44 and last traded at $102.8950. 1,697,845 shares traded hands during trading, a decline of 29% from the average session volume of 2,384,971 shares. The stock had previously closed at $109.92.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. William Blair upgraded Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, March 2nd. 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 research note on Wednesday, April 8th. Wall Street Zen downgraded Aehr Test Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Aehr Test Systems in a research note on Wednesday, April 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Aehr Test Systems currently has an average rating of “Hold” and a consensus target price of $68.00.

Aehr Test Systems Stock Performance

The business has a 50 day moving average price of $71.82 and a two-hundred day moving average price of $42.85. The stock has a market cap of $3.26 billion, a PE ratio of -272.34 and a beta of 3.26.

Aehr Test Systems (NASDAQ:AEHR) last announced its earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.85 million. As a group, research analysts anticipate that Aehr Test Systems will post -0.31 earnings per share for the current year.

Insider Transactions at Aehr Test Systems

In other news, Director Howard T. Slayen sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $85.00, for a total value of $2,125,000.00. Following the transaction, the director owned 178,328 shares in the company, valued at $15,157,880. The trade was a 12.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gayn Erickson sold 96,036 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $70.58, for a total value of $6,778,220.88. Following the completion of the transaction, the chief executive officer owned 197,723 shares in the company, valued at $13,955,289.34. The trade was a 32.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 375,005 shares of company stock worth $28,656,178. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Aehr Test Systems

A number of hedge funds have recently modified their holdings of the stock. Strait & Sound Wealth Management LLC bought a new stake in shares of Aehr Test Systems in the 1st quarter worth approximately $349,000. Cim LLC bought a new stake in shares of Aehr Test Systems in the 1st quarter worth approximately $507,000. California State Teachers Retirement System raised its holdings in shares of Aehr Test Systems by 2,271.7% in the 1st quarter. California State Teachers Retirement System now owns 41,599 shares of the semiconductor company’s stock worth $1,542,000 after purchasing an additional 39,845 shares during the period. Royal Bank of Canada raised its holdings in shares of Aehr Test Systems by 15.3% in the 1st quarter. Royal Bank of Canada now owns 59,939 shares of the semiconductor company’s stock worth $2,222,000 after purchasing an additional 7,968 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Aehr Test Systems in the 1st quarter worth approximately $291,000. Institutional investors own 69.69% of the company’s stock.

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.