Prudential Financial Inc. lessened its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 83.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 130,599 shares of the electronics maker’s stock after selling 674,355 shares during the period. Prudential Financial Inc. owned 0.34% of Advanced Energy Industries worth $6,745,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group acquired a new position in shares of Advanced Energy Industries during the 2nd quarter valued at $110,000. Integrated Investment Consultants LLC acquired a new position in shares of Advanced Energy Industries during the 2nd quarter valued at $136,000. HPM Partners LLC acquired a new position in shares of Advanced Energy Industries during the 2nd quarter valued at $211,000. Fox Run Management L.L.C. acquired a new position in shares of Advanced Energy Industries during the 3rd quarter valued at $221,000. Finally, NumerixS Investment Technologies Inc lifted its position in shares of Advanced Energy Industries by 39.3% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,900 shares of the electronics maker’s stock valued at $226,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 95.66% of the company’s stock.
AEIS opened at $41.60 on Friday. Advanced Energy Industries, Inc. has a 1-year low of $40.43 and a 1-year high of $77.99. The firm 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 (NASDAQ:AEIS) last released its quarterly earnings data on Monday, October 29th. The electronics maker reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Advanced Energy Industries had a net margin of 13.18% and a return on equity of 32.09%. The firm had revenue of $173.10 million for the quarter, compared to the consensus estimate of $170.50 million. During the same quarter in the prior year, the company posted $1.19 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Equities analysts forecast that Advanced Energy Industries, Inc. will post 4.19 EPS for the current year.
A number of research analysts recently issued reports on AEIS shares. BidaskClub downgraded shares of Advanced Energy Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Stifel Nicolaus set a $74.00 target price on shares of Advanced Energy Industries and gave the company a “hold” rating in a research report on Tuesday, October 23rd. Zacks Investment Research downgraded shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. TheStreet downgraded shares of Advanced Energy Industries from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. Finally, Citigroup set a $58.00 target price on shares of Advanced Energy Industries and gave the company a “hold” rating in a research report on Monday, October 15th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $70.17.
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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.
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