Corient Private Wealth LP bought a new stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS – Free Report) in the second quarter, HoldingsChannel.com reports. The firm bought 12,987 shares of the electronics maker’s stock, valued at approximately $4,790,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of AEIS. Bamco Inc. NY purchased a new position in shares of Advanced Energy Industries in the 2nd quarter worth $51,966,000. Bank of America Corp DE purchased a new position in Advanced Energy Industries in the second quarter worth about $382,342,000. Freestone Grove Partners LP bought a new stake in shares of Advanced Energy Industries during the 2nd quarter valued at about $32,519,000. Man Group plc purchased a new stake in shares of Advanced Energy Industries during the 2nd quarter valued at about $12,279,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Advanced Energy Industries during the 2nd quarter valued at about $6,386,000. 99.67% of the stock is owned by institutional investors.
Advanced Energy Industries Price Performance
NASDAQ AEIS opened at $276.86 on Tuesday. Advanced Energy Industries, Inc. has a 12 month low of $144.09 and a 12 month high of $397.44. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 51.65 and a beta of 1.29. The company’s 50 day moving average is $309.91 and its two-hundred day moving average is $327.28. The company has a current ratio of 3.79, a quick ratio of 2.94 and a debt-to-equity ratio of 0.78.
Advanced Energy Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, August 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Advanced Energy Industries’s payout ratio is 7.46%.
Insider Buying and Selling at Advanced Energy Industries
In other Advanced Energy Industries news, COO Eduardo Bernal Acebedo sold 24,771 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $315.48, for a total transaction of $7,814,755.08. Following the sale, the chief operating officer directly owned 23,109 shares of the company’s stock, valued at $7,290,427.32. This trade represents a 51.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth Karpinski Vonne sold 908 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $332.68, for a total value of $302,073.44. Following the completion of the transaction, the executive vice president owned 10,712 shares in the company, valued at $3,563,668.16. The trade was a 7.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,586 shares of company stock valued at $8,379,904 in the last ninety days. 1.30% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on AEIS shares. Bank of America increased their price objective on shares of Advanced Energy Industries from $430.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Robert W. Baird upped their target price on shares of Advanced Energy Industries from $360.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Morgan Stanley boosted their price objective on shares of Advanced Energy Industries from $421.00 to $439.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Seaport Research Partners upgraded Advanced Energy Industries from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a research note on Tuesday, August 4th. Finally, KeyCorp raised their target price on Advanced Energy Industries from $375.00 to $415.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Advanced Energy Industries currently has a consensus rating of “Moderate Buy” and an average target price of $409.50.
View Our Latest Report on Advanced Energy Industries
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc is a global technology company specializing in precision power conversion, measurement, and control solutions. The company designs and manufactures a broad portfolio of products including high-voltage power supplies, RF and microwave generators, digital power controllers, reactive gas control systems, and thin film measurement instruments. These solutions enable advanced processes in semiconductor fabrication, flat panel display manufacturing, industrial coating, data storage, telecommunications and medical device production.
Founded in 1981 and headquartered in Fort Collins, Colorado, Advanced Energy has grown through strategic product development and international expansion.
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