Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Here’s What Happened

Aehr Test Systems (NASDAQ:AEHR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $114.59, but opened at $105.34. Aehr Test Systems shares last traded at $103.6450, with a volume of 395,478 shares.

Wall Street Analysts Forecast Growth

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

Aehr Test Systems Trading Down 3.5%

The firm has a fifty day moving average price of $79.76 and a 200 day moving average price of $46.21. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -292.21 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR) last posted its quarterly earnings data on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm had revenue of $10.31 million for the quarter, compared to the consensus estimate of $10.85 million. Aehr Test Systems had a negative return on equity of 7.15% and a negative net margin of 25.23%. As a group, equities analysts predict that Aehr Test Systems will post -0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Alberto Salamone sold 15,000 shares of Aehr Test Systems 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 sale, the executive vice president owned 63,025 shares of the company’s stock, valued at approximately $5,645,149.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rhea J. Posedel sold 17,115 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $100.00, for a total value of $1,711,500.00. Following the completion of the transaction, the director directly owned 45,261 shares in the company, valued at $4,526,100. The trade was a 27.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 375,005 shares of company stock valued at $28,656,178 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aehr Test Systems

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Aehr Test Systems in the 4th quarter valued at $25,000. Sunbelt Securities Inc. acquired a new stake in shares of Aehr Test Systems in the 3rd quarter valued at $27,000. State of Wyoming acquired a new stake in shares of Aehr Test Systems in the 2nd quarter valued at $28,000. KBC Group NV bought a new position in shares of Aehr Test Systems in the 1st quarter valued at $30,000. Finally, Jones Financial Companies Lllp lifted its stake 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 last quarter. Institutional investors and hedge funds 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.