Globeflex Capital L P lessened its holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 7.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,497 shares of the electronics maker’s stock after selling 1,700 shares during the period. Globeflex Capital L P owned 0.06% of Advanced Energy Industries worth $1,307,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN increased its stake in Advanced Energy Industries by 14.6% in the 1st quarter. Wells Fargo & Company MN now owns 452,159 shares of the electronics maker’s stock worth $28,894,000 after acquiring an additional 57,438 shares during the last quarter. Rhumbline Advisers increased its stake in Advanced Energy Industries by 1.0% in the 1st quarter. Rhumbline Advisers now owns 98,097 shares of the electronics maker’s stock worth $6,268,000 after acquiring an additional 959 shares during the last quarter. Alps Advisors Inc. increased its stake in Advanced Energy Industries by 29.8% in the 1st quarter. Alps Advisors Inc. now owns 8,578 shares of the electronics maker’s stock worth $548,000 after acquiring an additional 1,971 shares during the last quarter. Comerica Bank increased its stake in Advanced Energy Industries by 2.2% in the 1st quarter. Comerica Bank now owns 41,784 shares of the electronics maker’s stock worth $2,588,000 after acquiring an additional 904 shares during the last quarter. Finally, Ifrah Financial Services Inc. bought a new position in Advanced Energy Industries in the 1st quarter worth about $286,000. 93.97% of the stock is currently owned by institutional investors.
A number of equities analysts have weighed in on AEIS shares. Zacks Investment Research lowered Advanced Energy Industries from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Needham & Company LLC decreased their target price on Advanced Energy Industries from $97.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. Cowen started coverage on Advanced Energy Industries in a research note on Tuesday, May 15th. They issued an “outperform” rating and a $78.00 target price on the stock. Citigroup decreased their target price on Advanced Energy Industries from $77.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 2nd. Finally, Stifel Nicolaus decreased their target price on Advanced Energy Industries from $87.00 to $78.00 and set a “hold” rating on the stock in a research note on Wednesday, August 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $76.83.
In other news, CFO Thomas O. Mcgimpsey sold 8,391 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $59.32, for a total transaction of $497,754.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.
Shares of Advanced Energy Industries stock opened at $58.98 on Thursday. The stock has a market cap of $2.32 billion, a PE ratio of 13.94, a PEG ratio of 1.48 and a beta of 1.19. Advanced Energy Industries, Inc. has a 12 month low of $56.22 and a 12 month high of $95.00.
Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings data on Monday, July 30th. The electronics maker reported $1.25 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.10). The firm had revenue of $196.00 million for the quarter, compared to the consensus estimate of $199.60 million. Advanced Energy Industries had a net margin of 19.68% and a return on equity of 33.40%. Advanced Energy Industries’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. sell-side analysts anticipate that Advanced Energy Industries, Inc. will post 4.46 earnings per share for the current fiscal year.
Advanced Energy Industries announced that its Board of Directors has authorized a stock repurchase plan on Monday, May 7th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the electronics maker to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
About Advanced Energy Industries
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.
Recommended Story: Asset Allocation and Your Retirement
Want to see what other hedge funds are holding AEIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Energy Industries, Inc. (NASDAQ:AEIS).
Receive News & Ratings for Advanced Energy Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Energy Industries and related companies with MarketBeat.com's FREE daily email newsletter.