Aehr Test Systems (NASDAQ:AEHR) Shares Gap Up – Still a Buy?

Aehr Test Systems (NASDAQ:AEHR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $16.85, but opened at $17.50. Aehr Test Systems shares last traded at $18.63, with a volume of 432,591 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Aehr Test Systems from a “hold” rating to a “sell” rating in a report on Saturday, October 5th.

Aehr Test Systems Price Performance

The stock has a market capitalization of $538.99 million, a P/E ratio of 18.56 and a beta of 1.86. The business’s 50 day moving average price is $13.18 and its 200 day moving average price is $13.78.

Aehr Test Systems (NASDAQ:AEHR) last announced its quarterly earnings data on Thursday, October 10th. The semiconductor company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. The business had revenue of $13.12 million for the quarter, compared to the consensus estimate of $11.90 million. Aehr Test Systems had a return on equity of 29.31% and a net margin of 49.63%. As a group, analysts forecast that Aehr Test Systems will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aehr Test Systems

Hedge funds have recently modified their holdings of the stock. Rice Hall James & Associates LLC increased its holdings in Aehr Test Systems by 17.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 398,766 shares of the semiconductor company’s stock valued at $5,124,000 after acquiring an additional 59,010 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Aehr Test Systems by 8.2% in the third quarter. Baillie Gifford & Co. now owns 1,806,849 shares of the semiconductor company’s stock valued at $23,218,000 after purchasing an additional 136,259 shares in the last quarter. Apis Capital Advisors LLC bought a new stake in shares of Aehr Test Systems in the 2nd quarter worth about $2,133,000. FMR LLC raised its position in Aehr Test Systems by 1,535.8% during the third quarter. FMR LLC now owns 2,619,108 shares of the semiconductor company’s stock valued at $33,656,000 after purchasing an additional 2,458,993 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in shares of Aehr Test Systems during the third quarter valued at approximately $672,000. Hedge funds and other institutional investors own 69.69% of the company’s stock.

Aehr Test Systems Company Profile

Aehr Test Systems provides test solutions for testing, burning-in, and semiconductor devices in wafer level, singulated die, and package part form, and installed systems worldwide. Its product portfolio includes FOX-XP and FOX-NP systems that are full wafer contact and singulated die/module test and burn-in systems that can test, burn-in, and stabilize range of devices, including silicon carbide-based and other power semiconductors, 2D and 3D sensors used in mobile phones, tablets and other computing devices, memory semiconductors, processors, microcontrollers, systems-on-a-chip, and photonics and integrated optical devices.