Renaissance Technologies LLC lifted its holdings in shares of Advanced Energy (NASDAQ:AEIS) by 39.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 798,422 shares of the electronics maker’s stock after acquiring an additional 225,700 shares during the quarter. Renaissance Technologies LLC owned about 2.01% of Advanced Energy worth $53,878,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of AEIS. Cortina Asset Management LLC bought a new stake in shares of Advanced Energy during the 3rd quarter valued at about $18,683,000. Stifel Financial Corp boosted its stake in Advanced Energy by 381.5% during the 3rd quarter. Stifel Financial Corp now owns 133,170 shares of the electronics maker’s stock valued at $10,774,000 after purchasing an additional 105,512 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in Advanced Energy by 35.4% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 392,747 shares of the electronics maker’s stock valued at $26,502,000 after purchasing an additional 102,593 shares during the period. BlackRock Inc. boosted its stake in Advanced Energy by 1.7% during the 4th quarter. BlackRock Inc. now owns 5,204,131 shares of the electronics maker’s stock valued at $351,177,000 after purchasing an additional 88,118 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Advanced Energy by 93.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 173,378 shares of the electronics maker’s stock valued at $13,579,000 after purchasing an additional 83,957 shares during the period. Institutional investors and hedge funds own 94.35% of the company’s stock.
AEIS has been the subject of a number of research analyst reports. BidaskClub lowered shares of Advanced Energy from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Zacks Investment Research lowered shares of Advanced Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, DA Davidson assumed coverage on shares of Advanced Energy in a report on Wednesday, January 10th. They set a “buy” rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $87.25.
Shares of NASDAQ AEIS traded down $1.60 during trading hours on Friday, hitting $61.33. 284,816 shares of the stock were exchanged, compared to its average volume of 469,241. Advanced Energy has a one year low of $60.06 and a one year high of $95.00. The company has a market cap of $2,499.66, a P/E ratio of 14.50, a P/E/G ratio of 1.46 and a beta of 1.31.
Advanced Energy (NASDAQ:AEIS) last issued its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. Advanced Energy had a net margin of 20.55% and a return on equity of 35.06%. The firm had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.07 million. During the same period in the prior year, the firm earned $1.06 EPS. The business’s revenue was up 32.4% on a year-over-year basis. sell-side analysts anticipate that Advanced Energy will post 4.78 earnings per share for the current fiscal year.
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About Advanced Energy
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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