Advanced Energy Industries (AEIS) Cut to “Hold” at Zacks Investment Research

Advanced Energy Industries (NASDAQ:AEIS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

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 research analysts also recently weighed in on AEIS. Needham & Company LLC restated a “buy” rating on shares of Advanced Energy Industries in a report on Friday, October 13th. KeyCorp restated a “hold” rating on shares of Advanced Energy Industries in a report on Sunday, October 15th. ValuEngine downgraded shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a report on Friday, October 27th. BidaskClub downgraded shares of Advanced Energy Industries from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Finally, DA Davidson assumed coverage on shares of Advanced Energy Industries in a report on Wednesday, January 10th. They issued a “buy” rating and a $100.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $82.67.

Advanced Energy Industries (NASDAQ:AEIS) traded up $0.51 during mid-day trading on Monday, reaching $74.16. 480,778 shares of the company’s stock were exchanged, compared to its average volume of 521,327. Advanced Energy Industries has a 12 month low of $56.07 and a 12 month high of $95.00. The stock has a market cap of $2,920.76, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30.

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, topping analysts’ consensus estimates of $1.17 by $0.02. Advanced Energy Industries had a net margin of 33.76% and a return on equity of 35.56%. The company had revenue of $176.60 million during the quarter, compared to the consensus estimate of $165.77 million. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue was up 39.5% compared to the same quarter last year. research analysts predict that Advanced Energy Industries will post 4.27 earnings per share for the current fiscal year.

In related news, EVP Thomas O. Mcgimpsey sold 5,190 shares of Advanced Energy Industries stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $85.06, for a total transaction of $441,461.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ball sold 4,000 shares of Advanced Energy Industries stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $83.51, for a total transaction of $334,040.00. The disclosure for this sale can be found here. Insiders sold a total of 19,190 shares of company stock worth $1,494,101 over the last 90 days. Company insiders own 1.13% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AEIS. State Street Corp raised its stake in shares of Advanced Energy Industries by 4.1% in the second quarter. State Street Corp now owns 1,019,290 shares of the electronics maker’s stock worth $65,937,000 after acquiring an additional 40,286 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Advanced Energy Industries in the third quarter worth about $3,467,000. Cortina Asset Management LLC bought a new position in shares of Advanced Energy Industries in the third quarter worth about $18,683,000. ARP Americas LLC bought a new position in shares of Advanced Energy Industries in the third quarter worth about $300,000. Finally, Gotham Asset Management LLC raised its stake in shares of Advanced Energy Industries by 820.4% in the second quarter. Gotham Asset Management LLC now owns 136,617 shares of the electronics maker’s stock worth $8,838,000 after acquiring an additional 121,774 shares during the last quarter. 93.45% of the stock is owned by hedge funds and other institutional investors.

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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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