Navellier & Associates Inc trimmed its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 75.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,754 shares of the electronics maker’s stock after selling 14,481 shares during the quarter. Navellier & Associates Inc’s holdings in Advanced Energy Industries were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Advanced Energy Industries by 4.1% during the 2nd quarter. State Street Corp now owns 1,019,290 shares of the electronics maker’s stock worth $65,937,000 after buying an additional 40,286 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Advanced Energy Industries during the 3rd quarter worth about $3,467,000. Cortina Asset Management LLC bought a new stake in shares of Advanced Energy Industries during the 3rd quarter worth about $18,683,000. ARP Americas LLC bought a new stake in shares of Advanced Energy Industries during the 3rd quarter worth about $300,000. Finally, First Trust Advisors LP raised its position in shares of Advanced Energy Industries by 22.2% during the 3rd quarter. First Trust Advisors LP now owns 87,527 shares of the electronics maker’s stock worth $7,069,000 after buying an additional 15,901 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.
Shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) opened at $67.23 on Friday. Advanced Energy Industries, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $95.00. The company has a market cap of $2,664.26, a P/E ratio of 19.72, a P/E/G ratio of 1.57 and a beta of 1.24.
Advanced Energy Industries (NASDAQ:AEIS) last released its earnings results on Tuesday, January 30th. The electronics maker reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. Advanced Energy Industries had a net margin of 20.55% and a return on equity of 35.06%. The business had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.07 million. During the same period in the previous year, the firm earned $1.06 EPS. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. sell-side analysts expect that Advanced Energy Industries, Inc. will post 4.76 EPS for the current year.
In related news, Director Grant H. Beard sold 10,000 shares of the business’s 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 filing with the SEC, which can be accessed through this hyperlink. 1.13% of the stock is owned by insiders.
A number of analysts have commented on AEIS shares. Zacks Investment Research upgraded shares of Advanced Energy Industries from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Thursday, January 11th. BidaskClub downgraded shares of Advanced Energy Industries from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. ValuEngine downgraded shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, DA Davidson started coverage on shares of Advanced Energy Industries in a research report on Wednesday, January 10th. They set a “buy” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Advanced Energy Industries has an average rating of “Hold” and an average target price of $84.60.
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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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