Jennison Associates LLC lowered its position in Advanced Energy Industries, Inc. (NASDAQ:AEIS – Free Report) by 34.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,191 shares of the electronics maker’s stock after selling 2,761 shares during the quarter. Jennison Associates LLC’s holdings in Advanced Energy Industries were worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in Advanced Energy Industries in the 4th quarter valued at $25,000. Bayforest Capital Ltd acquired a new position in Advanced Energy Industries in the fourth quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Advanced Energy Industries in the first quarter valued at about $29,000. Twin Tree Management LP acquired a new stake in shares of Advanced Energy Industries during the fourth quarter worth about $32,000. Finally, Danske Bank A S purchased a new position in shares of Advanced Energy Industries during the third quarter worth about $34,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.
Advanced Energy Industries Trading Up 4.5%
NASDAQ AEIS opened at $317.31 on Thursday. The business’s 50 day moving average is $325.25 and its two-hundred day moving average is $317.25. Advanced Energy Industries, Inc. has a 12-month low of $128.40 and a 12-month high of $397.44. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 66.80, a PEG ratio of 1.31 and a beta of 1.25.
Advanced Energy Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 25th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Advanced Energy Industries’s dividend payout ratio (DPR) is 8.42%.
Analyst Upgrades and Downgrades
Several research firms have commented on AEIS. KeyCorp upped their price objective on Advanced Energy Industries from $375.00 to $415.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Citigroup boosted their target price on Advanced Energy Industries from $410.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen upped their price target on Advanced Energy Industries from $300.00 to $350.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Morgan Stanley began coverage on Advanced Energy Industries in a report on Wednesday. They set an “overweight” rating and a $421.00 price target for the company. Finally, Susquehanna boosted their price objective on shares of Advanced Energy Industries from $430.00 to $535.00 and gave the company a “positive” rating in a research note on Tuesday, June 30th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $404.25.
Check Out Our Latest Report on Advanced Energy Industries
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc is a global technology company specializing in precision power conversion, measurement, and control solutions. The company designs and manufactures a broad portfolio of products including high-voltage power supplies, RF and microwave generators, digital power controllers, reactive gas control systems, and thin film measurement instruments. These solutions enable advanced processes in semiconductor fabrication, flat panel display manufacturing, industrial coating, data storage, telecommunications and medical device production.
Founded in 1981 and headquartered in Fort Collins, Colorado, Advanced Energy has grown through strategic product development and international expansion.
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