Advanced Energy Industries, Inc. (NASDAQ:AEIS) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. reduced its stake in Advanced Energy Industries by 21.5%, selling 17,578 shares during the first quarter, leaving them with approximately $6.1 million worth of stock.
• Brokerages are expressing mixed attitudes towards Advanced Energy Industries, with ratings varying from "buy" to "strong buy," and the average target price set at $130.20.
• Recent insider trading activity includes sales by EVP Paul R. Oldham and EVP John Donaghey, indicating decreased ownership stakes for both executives following their transactions.

Victory Capital Management Inc. trimmed its position in Advanced Energy Industries, Inc. (NASDAQ:AEIS - Free Report) by 21.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,006 shares of the electronics maker's stock after selling 17,578 shares during the period. Victory Capital Management Inc. owned approximately 0.17% of Advanced Energy Industries worth $6,100,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in Advanced Energy Industries by 61.6% during the fourth quarter. Russell Investments Group Ltd. now owns 354 shares of the electronics maker's stock valued at $41,000 after purchasing an additional 135 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Advanced Energy Industries during the fourth quarter worth approximately $47,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in Advanced Energy Industries in the fourth quarter valued at approximately $51,000. Fifth Third Bancorp boosted its position in Advanced Energy Industries by 71.5% during the first quarter. Fifth Third Bancorp now owns 559 shares of the electronics maker's stock valued at $53,000 after acquiring an additional 233 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Advanced Energy Industries in the 1st quarter worth about $78,000. Institutional investors and hedge funds own 99.67% of the company's stock.

Analysts Set New Price Targets

AEIS has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price target on shares of Advanced Energy Industries from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company raised their price target on shares of Advanced Energy Industries from $110.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Wall Street Zen upgraded shares of Advanced Energy Industries from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. 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 report on Thursday, May 1st. 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 analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $130.20.

Insider Activity at Advanced Energy Industries

In related news, EVP Paul R. Oldham sold 1,173 shares of Advanced Energy Industries stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 31,006 shares in the company, valued at $4,070,777.74. The trade was a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $280,000.00. Following the completion of the sale, the executive vice president owned 11,029 shares of the company's stock, valued at approximately $1,544,060. This trade represents a 15.35% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Advanced Energy Industries Trading Up 0.6%

NASDAQ:AEIS traded up $0.92 during trading hours on Tuesday, hitting $142.86. 70,295 shares of the company were exchanged, compared to its average volume of 334,722. The company has a current ratio of 4.43, a quick ratio of 3.28 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $130.02 and a 200 day simple moving average of $115.52. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 73.50, a price-to-earnings-growth ratio of 1.29 and a beta of 1.52. Advanced Energy Industries, Inc. has a one year low of $75.01 and a one year high of $145.52.

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

Advanced Energy Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 25th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.28%. Advanced Energy Industries's payout ratio is presently 20.62%.

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.