Trust Point Inc. Trims Stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Trust Point Inc. reduced its holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS - Free Report) by 45.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,451 shares of the electronics maker's stock after selling 2,012 shares during the quarter. Trust Point Inc.'s holdings in Advanced Energy Industries were worth $234,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Summit Investment Advisors Inc. increased its position in shares of Advanced Energy Industries by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,916 shares of the electronics maker's stock valued at $453,000 after buying an additional 124 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Advanced Energy Industries by 61.6% during the 4th quarter. Russell Investments Group Ltd. now owns 354 shares of the electronics maker's stock worth $41,000 after acquiring an additional 135 shares during the period. Principal Securities Inc. raised its position in shares of Advanced Energy Industries by 16.1% in the 4th quarter. Principal Securities Inc. now owns 989 shares of the electronics maker's stock worth $114,000 after acquiring an additional 137 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Advanced Energy Industries by 1.3% in the 4th quarter. Arizona State Retirement System now owns 10,926 shares of the electronics maker's stock valued at $1,263,000 after purchasing an additional 144 shares during the period. Finally, Heritage Family Offices LLP lifted its stake in shares of Advanced Energy Industries by 8.4% in the 1st quarter. Heritage Family Offices LLP now owns 2,189 shares of the electronics maker's stock valued at $209,000 after purchasing an additional 170 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Advanced Energy Industries Stock Up 3.6%

Shares of NASDAQ AEIS traded up $4.43 during midday trading on Thursday, hitting $128.97. The stock had a trading volume of 765,518 shares, compared to its average volume of 274,183. The business's 50 day moving average is $109.87 and its 200-day moving average is $111.63. Advanced Energy Industries, Inc. has a 52 week low of $75.01 and a 52 week high of $132.16. 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 has a market cap of $4.86 billion, a P/E ratio of 66.48, a PEG ratio of 1.14 and a beta of 1.50.

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

Advanced Energy Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 26th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.40 annualized dividend and a yield of 0.31%. Advanced Energy Industries's payout ratio is 20.62%.

Analyst Ratings Changes

AEIS has been the topic of several recent research reports. Needham & Company LLC reduced their price target on 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. Wall Street Zen upgraded shares of Advanced Energy Industries from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Citigroup boosted their price objective 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. Stifel Nicolaus restated a "buy" rating and issued a $130.00 price objective (down previously from $135.00) on shares of Advanced Energy Industries in a report on Thursday, May 1st. Finally, Robert W. Baird lifted their target price on shares of Advanced Energy Industries from $124.00 to $132.00 and gave the company an "outperform" rating in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $124.67.

About Advanced Energy Industries

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.