Zacks Investment Research lowered shares of Advanced Energy Industries (NASDAQ:AEIS) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “Advanced Energy is a global leader in the development and support of technologies critical to high-technology, high-growth manufacturing processes used in the production of semiconductors, flat panel displays, data storage products, solar cells, architectural glass, and other advanced product applications. Leveraging a diverse product portfolio and technology leadership, Advanced Energy creates solutions that maximize process impact, improve productivity and lower the cost of ownership for its customers. This portfolio includes a comprehensive line of technology solutions in power, flow, thermal management, and plasma and ion beam sources for original equipment manufacturers and end-users around the world. Advanced Energy operates in regional centers in North America, Asia and Europe and offers global sales and support through direct offices, representatives and distributors, “
Several other analysts have also recently commented on the company. ValuEngine cut Advanced Energy Industries from a buy rating to a hold rating in a report on Friday, October 27th. BidaskClub cut Advanced Energy Industries from a hold rating to a sell rating in a report on Thursday, December 14th. KeyCorp restated a hold rating on shares of Advanced Energy Industries in a report on Sunday, October 15th. Finally, Needham & Company LLC increased their target price on Advanced Energy Industries from $93.00 to $97.00 and gave the stock a buy rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $81.60.
Shares of Advanced Energy Industries (AEIS) traded down $0.96 during mid-day trading on Tuesday, hitting $67.96. The stock had a trading volume of 843,400 shares, compared to its average volume of 597,233. The company has a market capitalization of $2,733.18, a PE ratio of 12.90, a PEG ratio of 1.33 and a beta of 1.30. Advanced Energy Industries has a 12 month low of $54.95 and a 12 month high of $95.00.
Advanced Energy Industries (NASDAQ:AEIS) last announced its earnings results on Monday, October 30th. The electronics maker reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. The company had revenue of $176.60 million for the quarter, compared to analysts’ expectations of $165.77 million. Advanced Energy Industries had a return on equity of 35.56% and a net margin of 33.76%. The business’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. sell-side analysts anticipate that Advanced Energy Industries will post 4.26 earnings per share for the current year.
In related news, Director Grant H. Beard sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $71.86, for a total value of $718,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Yuval Wasserman sold 23,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $85.00, for a total value of $1,955,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,859 shares of company stock worth $4,409,311. 1.13% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Advanced Energy Industries by 3.1% during the second quarter. BlackRock Inc. now owns 5,127,265 shares of the electronics maker’s stock worth $331,682,000 after buying an additional 155,880 shares during the last quarter. State Street Corp boosted its holdings in Advanced Energy Industries by 4.1% during the second quarter. State Street Corp now owns 1,019,290 shares of the electronics maker’s stock worth $65,937,000 after buying an additional 40,286 shares during the last quarter. Northern Trust Corp boosted its holdings in Advanced Energy Industries by 2.7% during the second quarter. Northern Trust Corp now owns 897,325 shares of the electronics maker’s stock worth $58,049,000 after buying an additional 24,006 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Advanced Energy Industries by 204.6% during the third quarter. Victory Capital Management Inc. now owns 775,433 shares of the electronics maker’s stock worth $62,623,000 after buying an additional 520,884 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Advanced Energy Industries by 17.9% during the second quarter. Alliancebernstein L.P. now owns 673,966 shares of the electronics maker’s stock worth $43,599,000 after buying an additional 102,390 shares during the last quarter. Institutional investors and hedge funds own 94.29% of the company’s stock.
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About Advanced Energy Industries
Advanced Energy Industries, Inc is a provider of engineered, precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions that transform power into various forms in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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