Zacks Investment Research upgraded shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) from a hold rating to a buy rating in a research report report published on Friday, November 3rd. They currently have $93.00 target price on the electronics maker’s stock.
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, “
AEIS has been the subject of several other reports. ValuEngine lowered Advanced Energy Industries from a buy rating to a hold rating in a report on Friday, October 27th. KeyCorp reiterated a hold rating on shares of Advanced Energy Industries in a report on Sunday, October 15th. Needham & Company LLC reiterated a buy rating on shares of Advanced Energy Industries in a report on Friday, October 13th. BidaskClub upgraded Advanced Energy Industries from a hold rating to a buy rating in a report on Monday, July 24th. Finally, Stifel Nicolaus began coverage on Advanced Energy Industries in a report on Wednesday, August 23rd. They issued a hold rating and a $74.00 target price for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $81.60.
Advanced Energy Industries (NASDAQ AEIS) traded down $1.36 during trading hours on Friday, reaching $81.11. The company had a trading volume of 511,100 shares, compared to its average volume of 429,663. The firm has a market capitalization of $3,320.00, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.33 and a beta of 1.36. Advanced Energy Industries has a 1 year low of $51.56 and a 1 year high of $95.00.
Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings data on Monday, October 30th. The electronics maker reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. Advanced Energy Industries had a return on equity of 35.56% and a net margin of 33.76%. The firm had revenue of $176.60 million during the quarter, compared to analyst estimates of $165.77 million. During the same period last year, the company posted $0.77 EPS. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. research analysts anticipate that Advanced Energy Industries will post 4.24 EPS for the current year.
In other Advanced Energy Industries news, EVP Thomas O. Mcgimpsey sold 5,190 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $85.06, for a total value of $441,461.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Yuval Wasserman sold 23,000 shares of the company’s stock in a transaction on 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. Over the last 90 days, insiders have sold 70,603 shares of company stock worth $5,750,808. 1.13% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Sterling Capital Management LLC bought a new stake in Advanced Energy Industries in the third quarter valued at $1,916,000. California Public Employees Retirement System grew its position in Advanced Energy Industries by 2.5% in the third quarter. California Public Employees Retirement System now owns 225,231 shares of the electronics maker’s stock valued at $18,190,000 after acquiring an additional 5,531 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in Advanced Energy Industries by 146.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 32,200 shares of the electronics maker’s stock valued at $2,600,000 after acquiring an additional 19,131 shares during the period. AMP Capital Investors Ltd grew its position in Advanced Energy Industries by 74.4% in the third quarter. AMP Capital Investors Ltd now owns 5,626 shares of the electronics maker’s stock valued at $454,000 after acquiring an additional 2,400 shares during the period. Finally, Stifel Financial Corp grew its position in Advanced Energy Industries by 381.5% in the third quarter. Stifel Financial Corp now owns 133,170 shares of the electronics maker’s stock valued at $10,774,000 after acquiring an additional 105,512 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.
Advanced Energy Industries Company Profile
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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