Advanced Energy Industries, Inc. (AEIS) Lowered to Hold at Zacks Investment Research
Advanced Energy Industries, Inc. (NASDAQ:AEIS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.
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, “
A number of other brokerages also recently issued reports on AEIS. Stifel Nicolaus initiated coverage on shares of Advanced Energy Industries in a research report on Wednesday, August 23rd. They issued a “hold” rating and a $74.00 price objective on the stock. BidaskClub lowered shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Advanced Energy Industries presently has an average rating of “Buy” and an average target price of $72.60.
Shares of Advanced Energy Industries (NASDAQ AEIS) traded down 0.36% during midday trading on Tuesday, hitting $82.77. 409,787 shares of the company traded hands. The stock has a market capitalization of $3.31 billion, a P/E ratio of 21.03 and a beta of 1.38. Advanced Energy Industries has a 52 week low of $45.47 and a 52 week high of $86.25. The company has a 50-day moving average price of $73.96 and a 200-day moving average price of $72.42.
Advanced Energy Industries (NASDAQ:AEIS) last posted its earnings results on Monday, July 31st. The electronics maker reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.15. The company had revenue of $165.95 million for the quarter, compared to analyst estimates of $155.72 million. Advanced Energy Industries had a return on equity of 36.19% and a net margin of 27.42%. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Analysts anticipate that Advanced Energy Industries will post $4.59 earnings per share for the current fiscal year.
In other news, CFO Thomas Liguori sold 16,000 shares of Advanced Energy Industries stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.64, for a total transaction of $1,178,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yuval Wasserman sold 11,744 shares of Advanced Energy Industries stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $75.09, for a total transaction of $881,856.96. Following the sale, the chief executive officer now owns 127,396 shares of the company’s stock, valued at $9,566,165.64. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its stake in Advanced Energy Industries by 797.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,947 shares of the electronics maker’s stock worth $133,000 after acquiring an additional 1,730 shares during the last quarter. Advisory Services Network LLC lifted its position in Advanced Energy Industries by 9.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,161 shares of the electronics maker’s stock worth $140,000 after acquiring an additional 187 shares during the period. D.A. Davidson & CO. lifted its position in Advanced Energy Industries by 0.7% during the 2nd quarter. D.A. Davidson & CO. now owns 2,207 shares of the electronics maker’s stock worth $142,000 after acquiring an additional 16 shares during the period. Riverhead Capital Management LLC lifted its position in Advanced Energy Industries by 55.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,331 shares of the electronics maker’s stock worth $151,000 after acquiring an additional 831 shares during the period. Finally, Pacad Investment Ltd. acquired a new stake in Advanced Energy Industries during the 2nd quarter worth about $188,000. 92.20% of the stock is currently owned by hedge funds and other institutional investors.
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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