Pinnacle Associates Ltd. Cuts Stock Holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Pinnacle Associates Ltd. lowered its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEISGet Rating) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,830 shares of the electronics maker’s stock after selling 11,332 shares during the period. Pinnacle Associates Ltd. owned approximately 0.55% of Advanced Energy Industries worth $17,718,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Advisor Group Holdings Inc. increased its position in shares of Advanced Energy Industries by 10.5% in the first quarter. Advisor Group Holdings Inc. now owns 10,226 shares of the electronics maker’s stock worth $880,000 after acquiring an additional 971 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Advanced Energy Industries in the first quarter worth $42,000. Victory Capital Management Inc. increased its position in shares of Advanced Energy Industries by 5.9% in the first quarter. Victory Capital Management Inc. now owns 2,123,301 shares of the electronics maker’s stock worth $182,694,000 after acquiring an additional 118,793 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Advanced Energy Industries by 77.7% in the first quarter. Envestnet Asset Management Inc. now owns 89,765 shares of the electronics maker’s stock worth $7,727,000 after acquiring an additional 39,243 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of Advanced Energy Industries by 15.7% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 150,718 shares of the electronics maker’s stock worth $12,974,000 after acquiring an additional 20,400 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AEIS. Needham & Company LLC lowered their price target on shares of Advanced Energy Industries from $120.00 to $100.00 in a report on Thursday, May 5th. StockNews.com raised shares of Advanced Energy Industries from a “hold” rating to a “buy” rating in a report on Monday, July 18th. Loop Capital began coverage on shares of Advanced Energy Industries in a report on Wednesday, June 22nd. They set a “hold” rating and a $78.00 price target for the company. TheStreet lowered shares of Advanced Energy Industries from a “b” rating to a “c+” rating in a report on Tuesday, May 24th. Finally, Raymond James decreased their price objective on shares of Advanced Energy Industries from $112.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Advanced Energy Industries Trading Up 4.6 %

Advanced Energy Industries stock opened at $86.83 on Thursday. The firm’s 50-day moving average is $76.60 and its 200-day moving average is $81.06. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.24 and a current ratio of 3.23. Advanced Energy Industries, Inc. has a 1 year low of $67.55 and a 1 year high of $106.62. The company has a market cap of $3.26 billion, a P/E ratio of 24.88 and a beta of 1.57.

Advanced Energy Industries (NASDAQ:AEISGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The electronics maker reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.31. The firm had revenue of $397.46 million for the quarter, compared to the consensus estimate of $360.57 million. Advanced Energy Industries had a net margin of 8.85% and a return on equity of 19.47%. Advanced Energy Industries’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $1.18 EPS. On average, equities analysts expect that Advanced Energy Industries, Inc. will post 4.94 earnings per share for the current year.

Advanced Energy Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Monday, May 23rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 20th. This represents a $0.40 annualized dividend and a yield of 0.46%. Advanced Energy Industries’s payout ratio is 11.46%.

Insider Buying and Selling at Advanced Energy Industries

In other Advanced Energy Industries news, Director Lanesha Minnix sold 725 shares of the firm’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $75.81, for a total transaction of $54,962.25. Following the transaction, the director now owns 4,896 shares of the company’s stock, valued at approximately $371,165.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

About Advanced Energy Industries

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Advanced Energy Industries, Inc designs, manufactures, sells, and supports precision power conversion, measurement, and control solutions worldwide. It offers plasma power solutions, including direct current (DC), pulsed DC, low frequency alternating current, high voltage, and radio frequency (RF) power supplies, as well as RF power supplies, RF matching networks, and RF instrumentation products; and remote plasma sources for reactive gas applications.

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Institutional Ownership by Quarter for Advanced Energy Industries (NASDAQ:AEIS)

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