Advanced Energy (NASDAQ:AEIS) had its target price lowered by DA Davidson to $90.00 in a research report released on Thursday morning. The brokerage currently has a buy rating on the electronics maker’s stock. DA Davidson also issued estimates for Advanced Energy’s Q3 2018 earnings at $1.06 EPS.
Other research analysts have also issued reports about the company. BidaskClub raised Advanced Energy from a hold rating to a buy rating in a research report on Monday. Zacks Investment Research lowered Advanced Energy from a buy rating to a hold rating in a research report on Tuesday, April 3rd. Cowen began coverage on Advanced Energy in a research report on Tuesday, May 15th. They issued an outperform rating and a $78.00 target price on the stock. Needham & Company LLC dropped their target price on Advanced Energy from $97.00 to $80.00 and set a buy rating on the stock in a research report on Wednesday, May 2nd. Finally, Citigroup dropped their target price on Advanced Energy from $77.00 to $68.00 and set a neutral rating on the stock in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Advanced Energy has an average rating of Hold and an average target price of $76.50.
Advanced Energy traded down $0.39, hitting $60.03, during mid-day trading on Thursday, Marketbeat.com reports. The company’s stock had a trading volume of 3,817 shares, compared to its average volume of 342,652. The company has a market cap of $2.40 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.37 and a beta of 1.35. Advanced Energy has a 52-week low of $57.35 and a 52-week high of $95.00.
Advanced Energy (NASDAQ:AEIS) last announced its quarterly earnings data on Monday, April 30th. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. Advanced Energy had a return on equity of 34.76% and a net margin of 20.47%. The firm had revenue of $195.62 million during the quarter, compared to the consensus estimate of $187.92 million. During the same period in the prior year, the business earned $1.04 EPS. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. research analysts forecast that Advanced Energy will post 4.96 earnings per share for the current year.
Advanced Energy declared that its Board of Directors has authorized a stock repurchase program on Monday, May 7th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Yuval Wasserman sold 55,540 shares of the stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $62.40, for a total transaction of $3,465,696.00. Following the transaction, the chief executive officer now owns 141,929 shares of the company’s stock, valued at approximately $8,856,369.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Advanced Energy by 2.7% during the 1st quarter. BlackRock Inc. now owns 5,345,666 shares of the electronics maker’s stock valued at $341,588,000 after acquiring an additional 141,535 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Advanced Energy by 1.6% during the 1st quarter. Earnest Partners LLC now owns 1,002,855 shares of the electronics maker’s stock valued at $64,082,000 after acquiring an additional 15,873 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Advanced Energy by 39.4% during the 4th quarter. Renaissance Technologies LLC now owns 798,422 shares of the electronics maker’s stock valued at $53,878,000 after acquiring an additional 225,700 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Advanced Energy by 40.5% during the 1st quarter. Prudential Financial Inc. now owns 789,207 shares of the electronics maker’s stock valued at $50,430,000 after acquiring an additional 227,479 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Advanced Energy by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 651,524 shares of the electronics maker’s stock valued at $41,632,000 after acquiring an additional 5,673 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.
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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