Advanced Energy Industries’ (AEIS) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Advanced Energy Industries (NASDAQ:AEIS) in a research report sent to investors on Thursday, Benzinga reports.

Separately, Wells Fargo & Company dropped their price target on Advanced Energy Industries from $108.00 to $97.00 and set an equal weight rating for the company in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Energy Industries currently has a consensus rating of Hold and an average price target of $111.86.

Advanced Energy Industries Stock Performance

Shares of AEIS opened at $97.99 on Thursday. Advanced Energy Industries has a 12-month low of $81.86 and a 12-month high of $126.38. The company has a current ratio of 5.61, a quick ratio of 4.10 and a debt-to-equity ratio of 0.78. The company has a market cap of $3.67 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 3.35 and a beta of 1.54. The stock has a 50-day moving average price of $97.79 and a 200-day moving average price of $99.13.

Advanced Energy Industries (NASDAQ:AEIS) last released its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.09). Advanced Energy Industries had a return on equity of 11.65% and a net margin of 6.58%. The company had revenue of $327.50 million during the quarter, compared to analysts’ expectations of $351.74 million. During the same period in the prior year, the firm earned $1.10 EPS. Advanced Energy Industries’s quarterly revenue was down 22.9% on a year-over-year basis. As a group, equities analysts forecast that Advanced Energy Industries will post 2.88 earnings per share for the current fiscal year.

Advanced Energy Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, May 27th will be paid a $0.10 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. Advanced Energy Industries’s dividend payout ratio (DPR) is currently 14.71%.

Institutional Trading of Advanced Energy Industries

Institutional investors have recently made changes to their positions in the stock. Channing Capital Management LLC bought a new stake in Advanced Energy Industries in the 4th quarter worth $68,701,000. FMR LLC lifted its position in Advanced Energy Industries by 16.8% during the 3rd quarter. FMR LLC now owns 4,026,979 shares of the electronics maker’s stock valued at $415,262,000 after acquiring an additional 577,765 shares during the period. Norges Bank bought a new stake in Advanced Energy Industries during the fourth quarter worth about $43,516,000. The Manufacturers Life Insurance Company grew its holdings in Advanced Energy Industries by 1,005.2% in the third quarter. The Manufacturers Life Insurance Company now owns 346,271 shares of the electronics maker’s stock worth $35,707,000 after purchasing an additional 314,941 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Advanced Energy Industries by 65.0% during the fourth quarter. New York State Common Retirement Fund now owns 372,623 shares of the electronics maker’s stock valued at $40,586,000 after purchasing an additional 146,832 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.