Advanced Energy (NASDAQ:AEIS)’s share price hit a new 52-week low on Thursday . The company traded as low as $57.23 and last traded at $57.36, with a volume of 3361 shares. The stock had previously closed at $58.12.
A number of brokerages recently weighed in on AEIS. Zacks Investment Research cut Advanced Energy from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub cut Advanced Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, March 28th. Cowen began coverage on Advanced Energy in a research note on Tuesday, May 15th. They issued an “outperform” rating and a $78.00 price target on the stock. Needham & Company LLC dropped their price target on 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 price target on 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 investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Advanced Energy presently has a consensus rating of “Hold” and a consensus price target of $76.50.
The stock has a market capitalization of $2.37 billion, a P/E ratio of 13.60, a PEG ratio of 1.37 and a beta of 1.35.
Advanced Energy (NASDAQ:AEIS) last announced its quarterly earnings data 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 return on equity of 34.76% and a net margin of 20.47%. The firm had revenue of $195.62 million during the quarter, compared to analyst estimates of $187.92 million. During the same period last year, the company posted $1.04 EPS. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. analysts anticipate that Advanced Energy will post 4.91 earnings per share for the current fiscal year.
Advanced Energy announced that its Board of Directors has approved a share buyback program on Monday, May 7th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the electronics maker to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other Advanced Energy news, CEO Yuval Wasserman sold 55,540 shares of the firm’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $62.40, for a total transaction of $3,465,696.00. Following the completion of the sale, the chief executive officer now directly owns 141,929 shares in the company, valued at approximately $8,856,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Trail Advisors LLC boosted its position in Advanced Energy by 5,051.2% during the 1st quarter. Summit Trail Advisors LLC now owns 106,167 shares of the electronics maker’s stock worth $106,000 after acquiring an additional 104,106 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in shares of Advanced Energy during the 1st quarter valued at about $120,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Advanced Energy during the 4th quarter valued at about $223,000. Two Sigma Securities LLC acquired a new stake in shares of Advanced Energy during the 4th quarter valued at about $231,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Advanced Energy during the 4th quarter valued at about $259,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.
Advanced Energy Company 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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