Truist Financial Corp raised its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS – Get Rating) by 92.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,745 shares of the electronics maker’s stock after purchasing an additional 2,281 shares during the period. Truist Financial Corp’s holdings in Advanced Energy Industries were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Advanced Energy Industries by 31.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,004,508 shares of the electronics maker’s stock worth $182,530,000 after acquiring an additional 481,861 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Advanced Energy Industries by 1.6% in the 4th quarter. Earnest Partners LLC now owns 1,512,765 shares of the electronics maker’s stock valued at $137,752,000 after purchasing an additional 23,440 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Advanced Energy Industries by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 652,023 shares of the electronics maker’s stock worth $59,373,000 after purchasing an additional 2,968 shares during the period. First Trust Advisors LP increased its position in shares of Advanced Energy Industries by 5.1% during the 4th quarter. First Trust Advisors LP now owns 461,637 shares of the electronics maker’s stock valued at $42,037,000 after purchasing an additional 22,466 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Advanced Energy Industries by 7.2% during the 4th quarter. American Century Companies Inc. now owns 342,715 shares of the electronics maker’s stock valued at $31,208,000 after buying an additional 22,898 shares during the period. 97.42% of the stock is owned by institutional investors.
Analyst Ratings Changes
AEIS has been the topic of a number of analyst reports. TheStreet cut shares of Advanced Energy Industries from a “b” rating to a “c+” rating in a research report on Tuesday, May 24th. Needham & Company LLC cut their price target on shares of Advanced Energy Industries from $120.00 to $100.00 in a report on Thursday, May 5th. StockNews.com raised Advanced Energy Industries from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Raymond James lowered their price objective on shares of Advanced Energy Industries from $112.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, July 12th. Finally, Loop Capital began coverage on shares of Advanced Energy Industries in a research note on Wednesday, June 22nd. They set a “hold” rating and a $78.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.00.
Insider Activity at Advanced Energy Industries
In other Advanced Energy Industries news, Director Lanesha Minnix sold 725 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $75.81, for a total value of $54,962.25. Following the sale, the director now directly owns 4,896 shares of the company’s stock, valued at $371,165.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.
Advanced Energy Industries Stock Performance
NASDAQ AEIS opened at $86.83 on Thursday. Advanced Energy Industries, Inc. has a fifty-two week low of $67.55 and a fifty-two week high of $106.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.24 and a current ratio of 3.23. The firm has a market capitalization of $3.26 billion, a P/E ratio of 24.88 and a beta of 1.57. The stock has a 50-day simple moving average of $76.60 and a two-hundred day simple moving average of $81.06.
Advanced Energy Industries (NASDAQ:AEIS – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The electronics maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.31. Advanced Energy Industries had a return on equity of 19.47% and a net margin of 8.85%. The company had revenue of $397.46 million during the quarter, compared to the consensus estimate of $360.57 million. During the same period in the previous year, the company posted $1.18 earnings per share. Advanced Energy Industries’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Advanced Energy Industries, Inc. will post 4.94 earnings per share for the current year.
Advanced Energy Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 3rd. Stockholders of record on Monday, May 23rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Friday, May 20th. Advanced Energy Industries’s dividend payout ratio (DPR) is presently 11.46%.
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc designs, manufactures, sells, and supports precision power conversion, measurement, and control solutions worldwide. It offers plasma power solutions, including direct current (DC), pulsed DC, low frequency alternating current, high voltage, and radio frequency (RF) power supplies, as well as RF power supplies, RF matching networks, and RF instrumentation products; and remote plasma sources for reactive gas applications.
Further Reading
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Source: defenseworld.net
