Employees Retirement System of Texas lowered its holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 43.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,000 shares of the electronics maker’s stock after selling 26,000 shares during the period. Employees Retirement System of Texas owned about 0.09% of Advanced Energy Industries worth $1,975,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Trail Advisors LLC grew its stake in shares of Advanced Energy Industries by 5,051.2% in the 1st quarter. Summit Trail Advisors LLC now owns 106,167 shares of the electronics maker’s stock worth $106,000 after purchasing an additional 104,106 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of Advanced Energy Industries in the first quarter worth approximately $120,000. Integrated Investment Consultants LLC purchased a new position in shares of Advanced Energy Industries in the second quarter worth approximately $136,000. First Citizens Bank & Trust Co. purchased a new position in shares of Advanced Energy Industries in the second quarter worth approximately $213,000. Finally, Hikari Power Ltd purchased a new position in shares of Advanced Energy Industries in the second quarter worth approximately $222,000. 93.97% of the stock is currently owned by institutional investors.
AEIS stock opened at $61.90 on Thursday. The company has a market cap of $2.33 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.48 and a beta of 1.04. Advanced Energy Industries, Inc. has a 52 week low of $56.22 and a 52 week high of $95.00.
Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results 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 company had revenue of $196.00 million for the quarter, compared to analyst estimates of $199.60 million. Advanced Energy Industries had a return on equity of 33.40% and a net margin of 19.68%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 earnings per share. analysts anticipate that Advanced Energy Industries, Inc. will post 4.46 EPS for the current year.
AEIS has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Advanced Energy Industries from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. Cowen initiated coverage on shares of Advanced Energy Industries in a research report on Tuesday, May 15th. They issued an “outperform” rating and a $78.00 target price on the stock. Stifel Nicolaus dropped their target price on shares of Advanced Energy Industries from $87.00 to $78.00 and set a “hold” rating on the stock in a research report on Wednesday, August 1st. BidaskClub downgraded shares of Advanced Energy Industries from a “hold” rating to a “sell” rating in a research report on Sunday, June 24th. Finally, DA Davidson dropped their target price on shares of Advanced Energy Industries to $90.00 and set a “buy” rating on the stock in a research report on Thursday, June 21st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $76.83.
In related news, CFO Thomas O. Mcgimpsey sold 8,391 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $59.32, for a total transaction of $497,754.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.
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.
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