Advanced Energy Industries (AEIS) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Advanced Energy Industries (NASDAQ:AEIS) from a buy rating to a hold rating in a report issued on Tuesday.
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 brokerages have also recently commented on AEIS. ValuEngine cut shares of Advanced Energy Industries from a buy rating to a hold rating in a research note on Friday, October 27th. Needham & Company LLC upped their price target on shares of Advanced Energy Industries from $93.00 to $97.00 and gave the company a buy rating in a research note on Tuesday, October 31st. KeyCorp restated a hold rating on shares of Advanced Energy Industries in a research note on Sunday, October 15th. Finally, BidaskClub upgraded shares of Advanced Energy Industries from a sell rating to a hold rating in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Advanced Energy Industries currently has an average rating of Hold and a consensus price target of $81.60.
Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings results on Monday, October 30th. The electronics maker reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.02. The company had revenue of $176.60 million for the quarter, compared to analysts’ expectations of $165.77 million. Advanced Energy Industries had a net margin of 33.76% and a return on equity of 35.56%. Advanced Energy Industries’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. equities research analysts forecast that Advanced Energy Industries will post 4.26 EPS for the current fiscal year.
In other Advanced Energy Industries news, Director Grant H. Beard sold 10,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $71.86, for a total value of $718,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Yuval Wasserman sold 23,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $85.00, for a total transaction of $1,955,000.00. The disclosure for this sale can be found here. Insiders sold a total of 52,859 shares of company stock worth $4,409,311 over the last quarter. Corporate insiders own 1.13% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AEIS. Advisory Services Network LLC increased its holdings in shares of Advanced Energy Industries by 9.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,161 shares of the electronics maker’s stock worth $140,000 after buying an additional 187 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of Advanced Energy Industries by 0.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,207 shares of the electronics maker’s stock worth $142,000 after buying an additional 16 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Advanced Energy Industries by 55.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,331 shares of the electronics maker’s stock worth $151,000 after buying an additional 831 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Advanced Energy Industries by 57.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,077 shares of the electronics maker’s stock worth $168,000 after buying an additional 756 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of Advanced Energy Industries in the 2nd quarter worth $188,000. Institutional investors and hedge funds own 94.29% of the company’s stock.
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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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