Advanced Energy Industries, Inc. (AEIS) Stake Lessened by Prudential Financial Inc.

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Prudential Financial Inc. decreased its position in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 83.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 130,599 shares of the electronics maker’s stock after selling 674,355 shares during the quarter. Prudential Financial Inc.’s holdings in Advanced Energy Industries were worth $6,745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its position in Advanced Energy Industries by 18.0% during the second quarter. American Century Companies Inc. now owns 128,641 shares of the electronics maker’s stock valued at $7,473,000 after buying an additional 19,632 shares during the period. Bank of Nova Scotia bought a new position in Advanced Energy Industries during the second quarter valued at about $3,660,000. SG Americas Securities LLC grew its position in Advanced Energy Industries by 120.5% during the second quarter. SG Americas Securities LLC now owns 23,078 shares of the electronics maker’s stock valued at $1,341,000 after buying an additional 12,611 shares during the period. Rhumbline Advisers grew its position in Advanced Energy Industries by 1.0% during the second quarter. Rhumbline Advisers now owns 99,035 shares of the electronics maker’s stock valued at $5,753,000 after buying an additional 938 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP grew its position in Advanced Energy Industries by 41.7% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 153,950 shares of the electronics maker’s stock valued at $7,952,000 after buying an additional 45,320 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

AEIS has been the subject of several research reports. BidaskClub lowered shares of Advanced Energy Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Citigroup dropped their price objective on shares of Advanced Energy Industries from $68.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, September 25th. Stifel Nicolaus set a $74.00 price objective on shares of Advanced Energy Industries and gave the company a “hold” rating in a report on Tuesday, October 23rd. Zacks Investment Research downgraded shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Finally, Cowen dropped their price objective on shares of Advanced Energy Industries from $76.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $70.17.

NASDAQ AEIS opened at $41.60 on Friday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 1.04 and a beta of 1.13. Advanced Energy Industries, Inc. has a 52 week low of $40.43 and a 52 week high of $77.99.

Advanced Energy Industries (NASDAQ:AEIS) last released its quarterly earnings data on Monday, October 29th. The electronics maker reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.05. The business had revenue of $173.10 million for the quarter, compared to the consensus estimate of $170.50 million. Advanced Energy Industries had a net margin of 13.18% and a return on equity of 32.09%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. As a group, equities research analysts anticipate that Advanced Energy Industries, Inc. will post 4.19 EPS for the current year.

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About Advanced Energy Industries

Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion and control products that transform electrical power into various usable forms. It offers process power systems, including direct current (DC), pulsed DC, low frequency, high voltage, and radio frequency (RF) power supplies, as well as matching networks and remote plasma sources for reactive gas applications and RF instrumentation.

See Also: What is a balanced fund?

Want to see what other hedge funds are holding AEIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Energy Industries, Inc. (NASDAQ:AEIS).

Institutional Ownership by Quarter for Advanced Energy Industries (NASDAQ:AEIS)

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