DekaBank Deutsche Girozentrale lifted its holdings in Advanced Energy (NASDAQ:AEIS) by 88.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,300 shares of the electronics maker’s stock after purchasing an additional 3,900 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Advanced Energy were worth $517,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Louisiana State Employees Retirement System grew its holdings in Advanced Energy by 5.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the electronics maker’s stock worth $1,154,000 after acquiring an additional 900 shares in the last quarter. Creative Planning grew its holdings in Advanced Energy by 52.4% during the 4th quarter. Creative Planning now owns 3,995 shares of the electronics maker’s stock worth $270,000 after acquiring an additional 1,374 shares in the last quarter. Bowling Portfolio Management LLC grew its holdings in Advanced Energy by 25.2% during the 4th quarter. Bowling Portfolio Management LLC now owns 20,792 shares of the electronics maker’s stock worth $1,403,000 after acquiring an additional 4,188 shares in the last quarter. Strs Ohio grew its holdings in Advanced Energy by 5.8% during the 4th quarter. Strs Ohio now owns 20,100 shares of the electronics maker’s stock worth $1,356,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new position in Advanced Energy during the 4th quarter worth approximately $122,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
In other news, CEO Yuval Wasserman sold 55,540 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $62.40, for a total transaction of $3,465,696.00. Following the completion of the sale, the chief executive officer now owns 141,929 shares in the company, valued at approximately $8,856,369.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.
AEIS has been the subject of several analyst reports. Zacks Investment Research cut shares of Advanced Energy from a “buy” rating to a “hold” rating in a report on Monday, January 29th. BidaskClub cut shares of Advanced Energy from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Needham & Company LLC lowered their price target on shares of Advanced Energy from $97.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. Citigroup lowered their price target on shares of Advanced Energy from $77.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, May 2nd. Finally, Cowen initiated coverage on shares of Advanced Energy in a report on Tuesday, May 15th. They set an “outperform” rating and a $78.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Advanced Energy has an average rating of “Hold” and a consensus target price of $78.17.
Shares of NASDAQ:AEIS opened at $64.27 on Tuesday. The company has a market cap of $2.50 billion, a PE ratio of 15.19, a P/E/G ratio of 1.41 and a beta of 1.34. Advanced Energy has a twelve month low of $57.35 and a twelve month high of $95.00.
Advanced Energy (NASDAQ:AEIS) last issued its quarterly earnings data on Monday, April 30th. The electronics maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $195.62 million during the quarter, compared to the consensus estimate of $187.92 million. Advanced Energy had a net margin of 20.47% and a return on equity of 34.76%. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. research analysts expect that Advanced Energy will post 5.03 earnings per share for the current fiscal year.
Advanced Energy announced that its Board of Directors has authorized a stock repurchase program on Monday, May 7th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the electronics maker to buy up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Advanced Energy Profile
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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