Fisher Asset Management LLC Makes New Investment in Allied Motion Technologies Inc. (NASDAQ:AMOT)

Posted by Defense World Staff on Apr 29th, 2023

Fisher Asset Management LLC bought a new position in Allied Motion Technologies Inc. (NASDAQ:AMOT – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,652 shares of the technology company’s stock, valued at approximately $928,000. Fisher Asset Management LLC owned approximately 0.17% of Allied Motion Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AMOT. Acadian Asset Management LLC raised its holdings in Allied Motion Technologies by 22.2% in the first quarter. Acadian Asset Management LLC now owns 16,138 shares of the technology company’s stock worth $480,000 after purchasing an additional 2,929 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Allied Motion Technologies by 67.9% during the first quarter. MetLife Investment Management LLC now owns 6,936 shares of the technology company’s stock worth $207,000 after acquiring an additional 2,806 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Allied Motion Technologies during the first quarter worth about $219,000. Vanguard Group Inc. grew its stake in shares of Allied Motion Technologies by 0.6% during the first quarter. Vanguard Group Inc. now owns 594,989 shares of the technology company’s stock worth $17,754,000 after acquiring an additional 3,617 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Allied Motion Technologies during the first quarter worth about $305,000. 58.45% of the stock is currently owned by institutional investors.

Allied Motion Technologies Price Performance

Shares of NASDAQ AMOT opened at $34.42 on Friday. The business’s 50 day moving average price is $38.10 and its 200 day moving average price is $36.53. The firm has a market cap of $553.47 million, a P/E ratio of 31.58 and a beta of 1.52. Allied Motion Technologies Inc. has a 52 week low of $21.14 and a 52 week high of $44.88. The company has a quick ratio of 1.36, a current ratio of 2.69 and a debt-to-equity ratio of 1.09.

Allied Motion Technologies (NASDAQ:AMOT – Get Rating) last issued its earnings results on Tuesday, March 7th. The technology company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $131.08 million for the quarter, compared to analyst estimates of $126.17 million. Allied Motion Technologies had a return on equity of 12.86% and a net margin of 3.46%. On average, sell-side analysts expect that Allied Motion Technologies Inc. will post 2.24 earnings per share for the current year.

Allied Motion Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 22nd were given a $0.025 dividend. The ex-dividend date was Tuesday, March 21st. This represents a $0.10 annualized dividend and a yield of 0.29%. Allied Motion Technologies’s dividend payout ratio is presently 9.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMOT. Craig Hallum boosted their price target on Allied Motion Technologies from $43.00 to $52.00 in a research note on Thursday, March 9th. Northland Securities upgraded Allied Motion Technologies from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Wednesday, April 12th. Finally, StockNews.com began coverage on Allied Motion Technologies in a research report on Thursday, March 16th. They issued a “buy” rating on the stock.

About Allied Motion Technologies

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Allied Motion Technologies, Inc engages in the manufacturing and marketing of controlled motion products and solutions for original equipment manufacturers and end user applications. Its target markets include industrial, vehicle, medical, and aerospace and defense. The company was founded in 1962 and is headquartered in Amherst, NY.