Bank of America Corp DE cut its holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS - Free Report) by 87.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 881,753 shares of the electronics maker's stock after selling 6,039,797 shares during the quarter. Bank of America Corp DE owned approximately 2.34% of Advanced Energy Industries worth $101,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in shares of Advanced Energy Industries by 1.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,008 shares of the electronics maker's stock worth $579,000 after purchasing an additional 85 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in Advanced Energy Industries by 2.2% during the 4th quarter. Integrated Investment Consultants LLC now owns 4,594 shares of the electronics maker's stock valued at $531,000 after acquiring an additional 100 shares in the last quarter. Heritage Family Offices LLP boosted its position in Advanced Energy Industries by 6.1% during the 4th quarter. Heritage Family Offices LLP now owns 2,019 shares of the electronics maker's stock valued at $233,000 after acquiring an additional 116 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in Advanced Energy Industries by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,916 shares of the electronics maker's stock valued at $453,000 after acquiring an additional 124 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Advanced Energy Industries by 61.6% during the 4th quarter. Russell Investments Group Ltd. now owns 354 shares of the electronics maker's stock valued at $41,000 after acquiring an additional 135 shares in the last quarter. 99.67% of the stock is owned by institutional investors.
Insider Buying and Selling at Advanced Energy Industries
In other news, Director Lanesha Minnix sold 1,600 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.37, for a total transaction of $206,992.00. Following the completion of the sale, the director now owns 3,492 shares of the company's stock, valued at $451,760.04. The trade was a 31.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Eduardo Bernal Acebedo sold 19,309 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $111.61, for a total transaction of $2,155,077.49. Following the sale, the chief operating officer now directly owns 19,822 shares of the company's stock, valued at approximately $2,212,333.42. The trade was a 49.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.
Advanced Energy Industries Stock Down 0.4%
NASDAQ AEIS traded down $0.50 during mid-day trading on Friday, reaching $118.26. The stock had a trading volume of 58,023 shares, compared to its average volume of 263,897. Advanced Energy Industries, Inc. has a 1 year low of $75.01 and a 1 year high of $132.16. The stock has a market cap of $4.45 billion, a PE ratio of 82.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.50. The company has a fifty day moving average price of $99.16 and a 200 day moving average price of $110.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.42 and a quick ratio of 3.27.
Advanced Energy Industries (NASDAQ:AEIS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The electronics maker reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.26. Advanced Energy Industries had a net margin of 3.66% and a return on equity of 8.90%. The company had revenue of $404.60 million during the quarter, compared to analyst estimates of $392.36 million. During the same period in the previous year, the business earned $0.58 EPS. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. On average, research analysts expect that Advanced Energy Industries, Inc. will post 3.66 earnings per share for the current year.
Advanced Energy Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Monday, May 26th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.34%. Advanced Energy Industries's dividend payout ratio is presently 20.62%.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Citigroup lifted their price objective on Advanced Energy Industries from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Robert W. Baird lifted their price objective on Advanced Energy Industries from $124.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price target on Advanced Energy Industries from $115.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. StockNews.com raised Advanced Energy Industries from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $130.00 price target (down from $135.00) on shares of Advanced Energy Industries in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $124.67.
Check Out Our Latest Stock Analysis on Advanced Energy Industries
About Advanced Energy Industries
(
Free Report)
Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.
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