Advanced Energy Industries, Inc. $AEIS Holdings Increased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its AEIS stake by 406.2% in the third quarter, adding 106,857 shares to hold 133,161 shares valued at about $39.2 million.
• Advanced Energy Industries reported quarterly EPS of $3.65, beating the $3.04 consensus, while revenue rose 50.3% year over year to $696.4 million.
• Analysts retain a “Moderate Buy” consensus, though several recently lowered price targets; company insiders sold 27,218 shares worth about $8.6 million over the past three months.

Allspring Global Investments Holdings LLC raised its position in Advanced Energy Industries, Inc. (NASDAQ:AEIS - Free Report) by 406.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,161 shares of the electronics maker's stock after purchasing an additional 106,857 shares during the period. Allspring Global Investments Holdings LLC owned 0.33% of Advanced Energy Industries worth $39,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Advanced Energy Industries during the 3rd quarter valued at about $225,000. Kornitzer Capital Management Inc. KS raised its position in Advanced Energy Industries by 37.5% during the third quarter. Kornitzer Capital Management Inc. KS now owns 5,500 shares of the electronics maker's stock valued at $1,550,000 after purchasing an additional 1,500 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Advanced Energy Industries by 1.3% during the third quarter. Pictet Asset Management Holding SA now owns 6,352 shares of the electronics maker's stock valued at $1,790,000 after purchasing an additional 84 shares in the last quarter. Alps Advisors Inc. bought a new stake in Advanced Energy Industries during the third quarter worth about $643,000. Finally, CenterBook Partners LP lifted its stake in Advanced Energy Industries by 32.3% during the third quarter. CenterBook Partners LP now owns 44,006 shares of the electronics maker's stock worth $12,402,000 after purchasing an additional 10,754 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Advanced Energy Industries

In other news, EVP Elizabeth Vonne sold 908 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $332.68, for a total transaction of $302,073.44. Following the sale, the executive vice president owned 10,712 shares in the company, valued at approximately $3,563,668.16. The trade was a 7.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Eduardo Acebedo sold 24,771 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $315.48, for a total transaction of $7,814,755.08. Following the sale, the chief operating officer directly owned 23,109 shares in the company, valued at $7,290,427.32. The trade was a 51.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,218 shares of company stock valued at $8,562,008 in the last three months. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Zacks Research downgraded Advanced Energy Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 23rd. Robert W. Baird cut their target price on Advanced Energy Industries from $410.00 to $330.00 and set an "outperform" rating for the company in a research note on Tuesday, November 3rd. Morgan Stanley reduced their price target on shares of Advanced Energy Industries from $375.00 to $368.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 3rd. Wells Fargo & Company decreased their price target on shares of Advanced Energy Industries from $360.00 to $310.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 3rd. Finally, TD Cowen lowered their price objective on shares of Advanced Energy Industries from $370.00 to $275.00 and set a "hold" rating for the company in a report on Tuesday, November 3rd. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $391.64.

Advanced Energy Industries Stock Up 4.5%

Shares of NASDAQ AEIS opened at $231.60 on Thursday. The company has a current ratio of 3.62, a quick ratio of 2.73 and a debt-to-equity ratio of 0.71. Advanced Energy Industries, Inc. has a 12 month low of $178.37 and a 12 month high of $397.44. The firm has a market capitalization of $9.38 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 0.42 and a beta of 1.38. The firm has a fifty day simple moving average of $257.22 and a two-hundred day simple moving average of $305.63.

Advanced Energy Industries (NASDAQ:AEIS - Get Free Report) last announced its earnings results on Monday, November 2nd. The electronics maker reported $3.65 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.61. Advanced Energy Industries had a net margin of 12.72% and a return on equity of 24.95%. The firm had revenue of $696.40 million for the quarter, compared to analyst estimates of $644.85 million. During the same quarter in the previous year, the firm posted $1.74 EPS. The company's revenue for the quarter was up 50.3% compared to the same quarter last year. Equities analysts expect that Advanced Energy Industries, Inc. will post 10.38 earnings per share for the current year.

Advanced Energy Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Monday, November 23rd will be issued a $0.10 dividend. The ex-dividend date is Monday, November 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Advanced Energy Industries's dividend payout ratio is 5.76%.

Advanced Energy Industries Company Profile

Advanced Energy Industries, Inc. designs and manufactures precision power-conversion, measurement and control technologies. Founded in 1981, the company supplies solutions used in applications where reliable, precisely controlled power is important. Its products include power supplies, high-voltage and radio-frequency power systems, and measurement and control technologies. These products support semiconductor manufacturing and other markets, including industrial, data center, medical and telecommunications applications.

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