Advanced Energy Industries (AEIS) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Advanced Energy Industries (NASDAQ:AEIS) from a hold rating to a buy rating in a research note published on Thursday morning. The firm currently has $76.00 price target 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, “

Other analysts have also issued research reports about the company. Needham & Company LLC increased their target price on Advanced Energy Industries from $93.00 to $97.00 and gave the company a buy rating in a report on Tuesday, October 31st. DA Davidson assumed coverage on Advanced Energy Industries in a report on Wednesday. They issued a buy rating and a $100.00 target price for the company. BidaskClub lowered Advanced Energy Industries from a hold rating to a sell rating in a report on Friday, December 29th. ValuEngine lowered Advanced Energy Industries from a buy rating to a hold rating in a report on Thursday, November 30th. Finally, KeyCorp restated a hold rating on shares of Advanced Energy Industries in a report on Sunday, October 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Advanced Energy Industries currently has a consensus rating of Hold and a consensus price target of $81.83.

Advanced Energy Industries (NASDAQ AEIS) traded up $0.62 on Thursday, hitting $71.23. The stock had a trading volume of 459,138 shares, compared to its average volume of 456,313. The stock has a market capitalization of $2,820.00, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.36 and a beta of 1.30. Advanced Energy Industries has a one year low of $55.76 and a one year high of $95.00.

Advanced Energy Industries (NASDAQ:AEIS) last released its earnings results on Monday, October 30th. The electronics maker reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.02. The company had revenue of $176.60 million during the quarter, compared to analyst estimates of $165.77 million. Advanced Energy Industries had a return on equity of 35.56% and a net margin of 33.76%. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. equities analysts anticipate that Advanced Energy Industries will post 4.26 earnings per share for the current year.

In other news, CEO Yuval Wasserman sold 10,669 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $90.00, for a total value of $960,210.00. Following the transaction, the chief executive officer now directly owns 130,259 shares of the company’s stock, valued at $11,723,310. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Grant H. Beard sold 10,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $71.86, for a total transaction of $718,600.00. The disclosure for this sale can be found here. Insiders sold 29,859 shares of company stock worth $2,454,311 over the last ninety days. 1.13% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of AEIS. Koch Industries Inc. increased its stake in shares of Advanced Energy Industries by 17,404.0% in the second quarter. Koch Industries Inc. now owns 633,120 shares of the electronics maker’s stock worth $623,000 after acquiring an additional 629,503 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Advanced Energy Industries by 204.6% in the third quarter. Victory Capital Management Inc. now owns 775,433 shares of the electronics maker’s stock worth $62,623,000 after acquiring an additional 520,884 shares during the last quarter. AJO LP increased its stake in shares of Advanced Energy Industries by 883.6% in the second quarter. AJO LP now owns 284,774 shares of the electronics maker’s stock worth $18,422,000 after acquiring an additional 255,821 shares during the last quarter. Cortina Asset Management LLC acquired a new position in shares of Advanced Energy Industries in the third quarter worth $18,683,000. Finally, BlackRock Inc. increased its stake in shares of Advanced Energy Industries by 3.1% in the second quarter. BlackRock Inc. now owns 5,127,265 shares of the electronics maker’s stock worth $331,682,000 after acquiring an additional 155,880 shares during the last quarter. 94.29% of the stock is currently owned by institutional investors and hedge funds.

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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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