Advanced Energy (AEIS) Position Increased by Chicago Equity Partners LLC

Chicago Equity Partners LLC raised its position in Advanced Energy (NASDAQ:AEIS) by 3.2% during the first quarter, HoldingsChannel.com reports. The firm owned 26,630 shares of the electronics maker’s stock after purchasing an additional 820 shares during the period. Chicago Equity Partners LLC’s holdings in Advanced Energy were worth $1,702,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. State of Wisconsin Investment Board purchased a new stake in Advanced Energy in the 1st quarter worth about $2,428,000. LSV Asset Management purchased a new stake in Advanced Energy in the 1st quarter worth about $5,018,000. Swiss National Bank raised its position in Advanced Energy by 2.2% in the 1st quarter. Swiss National Bank now owns 69,500 shares of the electronics maker’s stock worth $4,441,000 after purchasing an additional 1,500 shares during the period. Prudential Financial Inc. grew its stake in Advanced Energy by 40.5% in the 1st quarter. Prudential Financial Inc. now owns 789,207 shares of the electronics maker’s stock worth $50,430,000 after acquiring an additional 227,479 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in Advanced Energy by 32.3% in the 1st quarter. Trexquant Investment LP now owns 25,599 shares of the electronics maker’s stock worth $1,636,000 after acquiring an additional 6,257 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Shares of Advanced Energy opened at $66.14 on Friday, MarketBeat reports. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.44 and a beta of 1.34. Advanced Energy has a one year low of $65.81 and a one year high of $66.84.

Advanced Energy (NASDAQ:AEIS) last issued its earnings results on Monday, April 30th. The electronics maker reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.01. Advanced Energy had a net margin of 20.47% and a return on equity of 34.76%. The business had revenue of $195.62 million for the quarter, compared to the consensus estimate of $187.92 million. During the same period in the prior year, the firm earned $1.04 EPS. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. sell-side analysts anticipate that Advanced Energy will post 5.03 earnings per share for the current fiscal year.

Advanced Energy declared that its board has initiated a share buyback plan on Monday, May 7th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In other news, CEO Yuval Wasserman sold 55,540 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $62.40, for a total transaction of $3,465,696.00. Following the transaction, the chief executive officer now directly owns 141,929 shares in the company, valued at $8,856,369.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

A number of brokerages have commented on AEIS. BidaskClub downgraded shares of Advanced Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, March 28th. Zacks Investment Research upgraded shares of Advanced Energy from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Monday, February 5th. Cowen began coverage on shares of Advanced Energy in a research note on Tuesday. They issued an “outperform” rating and a $78.00 target price on the stock. Needham & Company LLC dropped their target price on shares of Advanced Energy from $97.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. Finally, Citigroup dropped their target price on shares of Advanced Energy from $77.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Advanced Energy presently has a consensus rating of “Hold” and a consensus price target of $78.17.

Advanced Energy Profile

Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion and control products that transform electrical power into various usable forms. It offers process power systems, including direct current (DC), pulsed DC, low frequency, high voltage, and radio frequency (RF) power supplies, as well as matching networks and remote plasma sources for reactive gas applications and RF instrumentation.

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

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