Aehr Test Systems Reports Insider Cluster Buy


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On March 15, nine corporate executives within Aehr Test Systems ( AEHR ) bought 650,000 shares of their own company. The executives spent $1 per share for a total of $650,000. This marks the first time there has been an insider cluster buy for Aehr Test Systems. The following corporate executives made insider buys on March 15: Director Rhea Posedel (25,000 shares), Director Robert Anderson (250,000 shares), Vice President of Marketing Carl Buck (10,000 shares), Vice President of Engineering David Hendrickson (20,000 shares), Director Makesh Patel (250,000 shares), Director Howard Skagen (25,000 shares), President and CEO Gayn Erickson (50,000 shares), Vice President of Worldwide Sales (10,000 shares) and the CFO and Vice President of Finance Gary Larson (10,000 shares).

Aehr Test Systems manufactures and sells systems which are designed to reduce the cost of testing flash, dynamic random access memory and other memory devices, and to perform reliability screening or burn-in of complex logic and memory devices. The company also has sales and service offices around the U.S., Japan, Germany and Taiwan. Aehr is headquartered out of Fremont, Calif., and has a market cap of $8 million.

On March 19, Aehr announced its agreement to sell 1,158,000 of its common stock in a private placement transaction with certain directors and officers of the company and other accredited investors.

"We were able to minimize the expenses related to this private placement, resulting in higher net proceeds to the Company," said Gayn Erickson, president and chief executive officer of Aehr Test Systems. "The additional funds will allow us more leeway in managing our working capital and our research and development program spending."

Guru Jim Simons currently holds 47,600 shares of Aehr Test Systems.

With its shares up 28.95%, Aehr trades at $0.98.

For more information on Aehr insider trades, look at the Aehr insider trade history page .

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This article appears in: Investing

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