Advanced Energy Industries (NASDAQ:AEIS) Reaches New 52-Week High - Here's Why

Advanced Energy Industries, Inc. (NASDAQ:AEIS - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $136.28 and last traded at $135.75, with a volume of 70085 shares traded. The stock had previously closed at $133.59.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. KeyCorp restated an "overweight" rating on shares of Advanced Energy Industries in a research report on Wednesday, June 25th. Robert W. Baird upped their target price on shares of Advanced Energy Industries from $124.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company increased their price objective on shares of Advanced Energy Industries from $110.00 to $130.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Wall Street Zen upgraded shares of Advanced Energy Industries from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 27th. Finally, Citigroup increased their price objective on shares of Advanced Energy Industries from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.89.

Advanced Energy Industries Trading Up 0.3%

The firm has a market cap of $5.20 billion, a PE ratio of 71.15, a P/E/G ratio of 1.27 and a beta of 1.52. The company has a quick ratio of 3.28, a current ratio of 4.43 and a debt-to-equity ratio of 0.46. The company's 50 day moving average price is $120.38 and its two-hundred day moving average price is $112.86.

Advanced Energy Industries (NASDAQ:AEIS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The electronics maker reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.26. Advanced Energy Industries had a net margin of 4.73% and a return on equity of 10.70%. The business had revenue of $404.60 million for the quarter, compared to the consensus estimate of $392.36 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The business's revenue for the quarter was up 23.5% on a year-over-year basis. As a group, sell-side analysts forecast that Advanced Energy Industries, Inc. will post 3.66 EPS for the current year.

Advanced Energy Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Monday, May 26th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Friday, May 23rd. Advanced Energy Industries's dividend payout ratio is currently 20.62%.

Insider Buying and Selling at Advanced Energy Industries

In other news, EVP Paul R. Oldham sold 1,173 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $131.29, for a total value of $154,003.17. Following the sale, the executive vice president owned 31,006 shares of the company's stock, valued at approximately $4,070,777.74. This represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Advanced Energy Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Partners Public Asset Management LLC purchased a new position in Advanced Energy Industries in the 4th quarter worth about $71,494,000. Norges Bank purchased a new position in Advanced Energy Industries in the 4th quarter worth about $68,949,000. Silvercrest Asset Management Group LLC purchased a new position in Advanced Energy Industries in the 4th quarter worth about $58,393,000. GAMMA Investing LLC increased its stake in Advanced Energy Industries by 15,632.7% in the 1st quarter. GAMMA Investing LLC now owns 193,670 shares of the electronics maker's stock worth $18,459,000 after buying an additional 192,439 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Advanced Energy Industries by 21.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 774,586 shares of the electronics maker's stock worth $89,565,000 after buying an additional 138,814 shares during the period. Hedge funds and other institutional investors own 99.67% of the company's stock.

Advanced Energy Industries Company 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.