First Citizens Bank & Trust Co. cut its position in Advanced Energy Industries Inc. (NASDAQ:AEIS) by 9.1% during the second quarter, Holdings Channel reports. The institutional investor owned 20,644 shares of the company’s stock after selling 2,061 shares during the period. First Citizens Bank & Trust Co.’s holdings in Advanced Energy Industries were worth $784,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of AEIS. Glenmede Trust Co. NA acquired a new stake in shares of Advanced Energy Industries during the first quarter worth $258,000. Aperio Group LLC acquired a new stake in shares of Advanced Energy Industries during the first quarter worth $264,000. BlackRock Inc. increased its stake in shares of Advanced Energy Industries by 30.1% in the first quarter. BlackRock Inc. now owns 3,104 shares of the company’s stock worth $109,000 after buying an additional 718 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Advanced Energy Industries by 12.4% in the first quarter. BlackRock Group LTD now owns 58,912 shares of the company’s stock worth $2,049,000 after buying an additional 6,506 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Advanced Energy Industries by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,040,524 shares of the company’s stock worth $36,200,000 after buying an additional 18,383 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.
Shares of Advanced Energy Industries Inc. (NASDAQ:AEIS) traded down 4.00% on Thursday, hitting $45.89. The company had a trading volume of 292,107 shares. The stock has a market capitalization of $1.82 billion, a PE ratio of 17.59 and a beta of 0.89. The firm’s 50 day moving average price is $45.82 and its 200-day moving average price is $39.49. Advanced Energy Industries Inc. has a 52 week low of $24.25 and a 52 week high of $48.59.
Advanced Energy Industries (NASDAQ:AEIS) last issued its earnings results on Monday, August 1st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. The company earned $118.80 million during the quarter, compared to analysts’ expectations of $111.52 million. Advanced Energy Industries had a return on equity of 28.45% and a net margin of 24.01%. Advanced Energy Industries’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 EPS. Analysts forecast that Advanced Energy Industries Inc. will post $2.73 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. Citigroup Inc. assumed coverage on Advanced Energy Industries in a report on Wednesday. They issued a “neutral” rating and a $50.00 target price for the company. Zacks Investment Research downgraded Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 4th. Dougherty & Co lifted their target price on Advanced Energy Industries from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Raymond James Financial Inc. downgraded Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a report on Thursday, July 14th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $41.83.
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc provides precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions, used in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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