DekaBank Deutsche Girozentrale Takes Position in Advanced Energy Industries, Inc. (AEIS)
DekaBank Deutsche Girozentrale purchased a new position in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,900 shares of the electronics maker’s stock, valued at approximately $130,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Advanced Energy Industries during the fourth quarter worth about $24,474,000. Russell Investments Group Ltd. bought a new position in shares of Advanced Energy Industries during the fourth quarter worth about $10,299,000. Old Mutual Global Investors UK Ltd. bought a new position in shares of Advanced Energy Industries during the first quarter worth about $7,029,000. Acadian Asset Management LLC increased its position in shares of Advanced Energy Industries by 944.1% in the first quarter. Acadian Asset Management LLC now owns 100,756 shares of the electronics maker’s stock worth $6,908,000 after buying an additional 91,106 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new position in shares of Advanced Energy Industries during the fourth quarter worth about $4,351,000. Institutional investors and hedge funds own 94.15% of the company’s stock.
Shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) opened at 77.46 on Monday. The stock has a 50 day moving average price of $73.06 and a 200-day moving average price of $62.70. Advanced Energy Industries, Inc. has a 52-week low of $35.42 and a 52-week high of $79.49. The firm has a market cap of $3.08 billion, a PE ratio of 21.73 and a beta of 1.07.
Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings data on Monday, May 1st. The electronics maker reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Advanced Energy Industries had a return on equity of 34.94% and a net margin of 26.35%. The business had revenue of $149.35 million for the quarter, compared to analyst estimates of $147.86 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s revenue was up 45.0% on a year-over-year basis. On average, equities analysts anticipate that Advanced Energy Industries, Inc. will post $3.99 EPS for the current fiscal year.
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A number of research analysts have recently issued reports on AEIS shares. Citigroup Inc lifted their price target on Advanced Energy Industries from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, March 20th. Zacks Investment Research upgraded Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $86.00 price target on the stock in a report on Monday, May 8th. Needham & Company LLC lifted their price target on Advanced Energy Industries from $65.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Finally, Dougherty & Co raised their price objective on Advanced Energy Industries from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 1st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $75.00.
In related news, CEO Yuval Wasserman sold 20,000 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $77.25, for a total value of $1,545,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas M. Rohrs sold 4,000 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $68.56, for a total value of $274,240.00. The disclosure for this sale can be found here. Insiders sold 70,772 shares of company stock worth $5,415,755 in the last three months. 1.33% of the stock is currently owned by corporate insiders.
About Advanced Energy Industries
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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