Peterson Wealth Services lifted its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS – Free Report) by 70.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,399 shares of the electronics maker’s stock after acquiring an additional 2,646 shares during the quarter. Peterson Wealth Services’ holdings in Advanced Energy Industries were worth $1,340,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Advanced Energy Industries by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 956,979 shares of the electronics maker’s stock worth $200,393,000 after acquiring an additional 28,549 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Advanced Energy Industries by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 946,649 shares of the electronics maker’s stock worth $125,431,000 after acquiring an additional 20,573 shares in the last quarter. GW&K Investment Management LLC boosted its stake in shares of Advanced Energy Industries by 51.5% during the 3rd quarter. GW&K Investment Management LLC now owns 699,780 shares of the electronics maker’s stock worth $119,062,000 after acquiring an additional 237,895 shares in the last quarter. Norges Bank bought a new stake in shares of Advanced Energy Industries during the 4th quarter worth about $123,403,000. Finally, Franklin Resources Inc. boosted its stake in shares of Advanced Energy Industries by 55.4% during the 4th quarter. Franklin Resources Inc. now owns 487,494 shares of the electronics maker’s stock worth $102,067,000 after acquiring an additional 173,836 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.
Advanced Energy Industries Stock Up 10.5%
Shares of NASDAQ:AEIS opened at $340.40 on Friday. The business has a 50 day moving average price of $344.07 and a 200 day moving average price of $293.41. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 71.66, a PEG ratio of 1.34 and a beta of 1.30. Advanced Energy Industries, Inc. has a twelve month low of $122.08 and a twelve month high of $397.44.
Advanced Energy Industries Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 25th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.40 annualized dividend and a yield of 0.1%. Advanced Energy Industries’s dividend payout ratio is 8.42%.
Wall Street Analyst Weigh In
Several analysts recently weighed in on AEIS shares. Robert W. Baird increased their target price on Advanced Energy Industries from $360.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Needham & Company LLC increased their target price on Advanced Energy Industries from $330.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. TD Cowen increased their target price on Advanced Energy Industries from $300.00 to $350.00 and gave the company a “hold” rating in a research note on Tuesday, May 5th. Wells Fargo & Company increased their target price on Advanced Energy Industries from $340.00 to $345.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings downgraded Advanced Energy Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $361.82.
Read Our Latest Stock Analysis on Advanced Energy Industries
Insider Activity at Advanced Energy Industries
In other Advanced Energy Industries news, EVP Elizabeth Karpinski Vonne sold 966 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $369.40, for a total value of $356,840.40. Following the completion of the transaction, the executive vice president owned 11,616 shares of the company’s stock, valued at $4,290,950.40. This represents a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul R. Oldham sold 4,314 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $315.99, for a total value of $1,363,180.86. Following the completion of the transaction, the executive vice president directly owned 22,217 shares of the company’s stock, valued at approximately $7,020,349.83. This trade represents a 16.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.30% of the company’s stock.
Advanced Energy Industries 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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