Advanced Energy Industries (NASDAQ:AEIS – Free Report) had its price target raised by Wells Fargo & Company from $110.00 to $130.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the electronics maker’s stock.
A number of other brokerages also recently issued reports on AEIS. KeyCorp restated an “overweight” rating on shares of Advanced Energy Industries in a report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $130.00 target price (down previously from $135.00) on shares of Advanced Energy Industries in a report on Thursday, May 1st. Wall Street Zen upgraded Advanced Energy Industries from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Needham & Company LLC reduced their target price on Advanced Energy Industries from $145.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Citigroup upped their target price on Advanced Energy Industries from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $126.89.
Read Our Latest Stock Analysis on AEIS
Advanced Energy Industries Stock Down 1.1%
Advanced Energy Industries (NASDAQ:AEIS – Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The electronics maker reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.26. Advanced Energy Industries had a return on equity of 10.70% and a net margin of 4.73%. The company had revenue of $404.60 million for the quarter, compared to the consensus estimate of $392.36 million. During the same quarter in the previous year, the business earned $0.58 EPS. Advanced Energy Industries’s revenue was up 23.5% compared to the same quarter last year. Sell-side analysts anticipate that Advanced Energy Industries will post 3.66 EPS for the current year.
Advanced Energy Industries Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Monday, May 26th were given a $0.10 dividend. The ex-dividend date was Friday, May 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.30%. Advanced Energy Industries’s dividend payout ratio is currently 20.62%.
Insider Transactions at Advanced Energy Industries
In other news, EVP Paul R. Oldham sold 1,173 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $131.29, for a total value of $154,003.17. Following the sale, the executive vice president now directly owns 31,006 shares of the company’s stock, valued at $4,070,777.74. The trade was a 3.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.
Institutional Trading of Advanced Energy Industries
Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in Advanced Energy Industries in the 1st quarter valued at approximately $31,000. Russell Investments Group Ltd. lifted its position in Advanced Energy Industries by 61.6% in the 4th quarter. Russell Investments Group Ltd. now owns 354 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 135 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Advanced Energy Industries in the 4th quarter valued at approximately $47,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in Advanced Energy Industries in the 4th quarter valued at approximately $51,000. Finally, Advisors Asset Management Inc. lifted its position in Advanced Energy Industries by 47.7% in the 1st quarter. Advisors Asset Management Inc. now owns 539 shares of the electronics maker’s stock valued at $51,000 after acquiring an additional 174 shares in the last quarter. 99.67% of the stock is owned by institutional investors.
About Advanced Energy Industries
Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.
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