Citigroup Inc. Cuts Position in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Citigroup Inc. decreased its position in Advanced Energy Industries, Inc. (NASDAQ:AEIS - Free Report) by 92.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,531 shares of the electronics maker's stock after selling 2,372,213 shares during the quarter. Citigroup Inc. owned 0.51% of Advanced Energy Industries worth $18,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEIS. Summit Partners Public Asset Management LLC purchased a new stake in Advanced Energy Industries in the fourth quarter valued at approximately $71,494,000. Silvercrest Asset Management Group LLC purchased a new stake in Advanced Energy Industries in the fourth quarter valued at approximately $58,393,000. GAMMA Investing LLC raised its position in Advanced Energy Industries by 15,632.7% in the first quarter. GAMMA Investing LLC now owns 193,670 shares of the electronics maker's stock valued at $18,459,000 after purchasing an additional 192,439 shares during the period. The Manufacturers Life Insurance Company raised its position in Advanced Energy Industries by 21.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 774,586 shares of the electronics maker's stock valued at $89,565,000 after purchasing an additional 138,814 shares during the period. Finally, Sora Investors LLC raised its position in Advanced Energy Industries by 193.6% in the fourth quarter. Sora Investors LLC now owns 132,114 shares of the electronics maker's stock valued at $15,276,000 after purchasing an additional 87,114 shares during the period. Hedge funds and other institutional investors own 99.67% of the company's stock.

Advanced Energy Industries Stock Performance

Shares of AEIS stock opened at $162.52 on Thursday. The company has a current ratio of 4.09, a quick ratio of 2.97 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average price of $137.11 and a 200 day moving average price of $117.57. The company has a market cap of $6.13 billion, a P/E ratio of 73.54, a PEG ratio of 1.29 and a beta of 1.52. Advanced Energy Industries, Inc. has a 12 month low of $75.01 and a 12 month high of $163.07.

Advanced Energy Industries (NASDAQ:AEIS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The electronics maker reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.22. The firm had revenue of $441.50 million during the quarter, compared to the consensus estimate of $421.32 million. Advanced Energy Industries had a net margin of 5.13% and a return on equity of 12.38%. The company's revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Sell-side analysts predict that Advanced Energy Industries, Inc. will post 3.66 earnings per share for the current fiscal year.

Advanced Energy Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 25th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, August 25th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Advanced Energy Industries's payout ratio is presently 18.10%.

Insiders Place Their Bets

In other Advanced Energy Industries news, EVP John Donaghey sold 2,000 shares of the company's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $140.00, for a total value of $280,000.00. Following the completion of the transaction, the executive vice president owned 11,029 shares in the company, valued at $1,544,060. This represents a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Paul R. Oldham sold 1,173 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $131.29, for a total transaction of $154,003.17. Following the completion of the transaction, the executive vice president owned 31,006 shares of the company's stock, valued at $4,070,777.74. This represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Benchmark boosted their target price on Advanced Energy Industries from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Robert W. Baird boosted their price target on shares of Advanced Energy Industries from $124.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. TD Cowen boosted their price target on shares of Advanced Energy Industries from $118.00 to $140.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Stifel Nicolaus set a $150.00 price target on shares of Advanced Energy Industries and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Citigroup boosted their price target on shares of Advanced Energy Industries from $138.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $138.90.

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.

Want to see what other hedge funds are holding AEIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Energy Industries, Inc. (NASDAQ:AEIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.