Bank of America Corp DE Sells 6,039,797 Shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Bank of America Corp DE cut its holdings in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS - Free Report) by 87.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AEIS. Principal Financial Group Inc. raised its position in shares of Advanced Energy Industries by 12.4% during the 3rd quarter. Principal Financial Group Inc. now owns 483,848 shares of the electronics maker's stock valued at $50,920,000 after acquiring an additional 53,566 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Advanced Energy Industries by 22.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,065 shares of the electronics maker's stock valued at $323,000 after buying an additional 569 shares in the last quarter. Park Avenue Securities LLC increased its stake in Advanced Energy Industries by 17.7% during the 4th quarter. Park Avenue Securities LLC now owns 3,853 shares of the electronics maker's stock valued at $446,000 after buying an additional 580 shares during the period. Heritage Family Offices LLP raised its position in shares of 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 worth $233,000 after buying an additional 116 shares in the last quarter. Finally, Integrated Investment Consultants LLC raised its position in shares of 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 worth $531,000 after buying an additional 100 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Advanced Energy Industries news, COO Eduardo Bernal Acebedo sold 19,309 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $111.61, for a total value of $2,155,077.49. Following the completion of the sale, the chief operating officer now owns 19,822 shares in the company, valued at approximately $2,212,333.42. This trade represents a 49.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lanesha Minnix sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.37, for a total value 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. This represents a 31.42% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Advanced Energy Industries Stock Down 1.0%

Shares of NASDAQ AEIS traded down $1.22 during mid-day trading on Wednesday, reaching $118.92. 319,452 shares of the company traded hands, compared to its average volume of 264,267. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.27 and a current ratio of 4.42. The stock has a market cap of $4.48 billion, a PE ratio of 83.16, a price-to-earnings-growth ratio of 1.39 and a beta of 1.50. The company's fifty day moving average is $98.71 and its two-hundred day moving average is $110.36. Advanced Energy Industries, Inc. has a fifty-two week low of $75.01 and a fifty-two week high of $132.16.

Advanced Energy Industries (NASDAQ:AEIS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The electronics maker reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.26. The business had revenue of $404.60 million for the quarter, compared to analyst estimates of $392.36 million. Advanced Energy Industries had a return on equity of 8.90% and a net margin of 3.66%. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 EPS. On average, 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. Investors of record on Monday, May 26th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, May 23rd. Advanced Energy Industries's dividend payout ratio (DPR) is currently 20.62%.

Wall Street Analysts Forecast Growth

AEIS has been the topic of a number of research analyst reports. Needham & Company LLC lowered their price objective on shares of Advanced Energy Industries from $145.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on Advanced Energy Industries from $115.00 to $110.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Citigroup increased their price objective on Advanced Energy Industries from $138.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Robert W. Baird increased their price objective on Advanced Energy Industries from $124.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, StockNews.com raised Advanced Energy Industries from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $124.67.

Advanced Energy Industries Profile

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.