Handelsbanken Fonder AB Trims Position in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Posted by Defense World Staff on Jul 23rd, 2023

Handelsbanken Fonder AB cut its position in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS – Free Report) by 11.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,737 shares of the electronics maker’s stock after selling 900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Advanced Energy Industries were worth $660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AEIS. Norges Bank bought a new stake in shares of Advanced Energy Industries during the fourth quarter valued at approximately $32,190,000. Millennium Management LLC boosted its position in shares of Advanced Energy Industries by 122.7% during the fourth quarter. Millennium Management LLC now owns 500,028 shares of the electronics maker’s stock valued at $42,892,000 after purchasing an additional 275,452 shares in the last quarter. Compass Wealth Management LLC bought a new stake in shares of Advanced Energy Industries during the fourth quarter valued at approximately $5,929,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Advanced Energy Industries during the fourth quarter valued at approximately $5,863,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Advanced Energy Industries during the fourth quarter valued at approximately $5,852,000. 99.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Needham & Company LLC lowered Advanced Energy Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. KeyCorp boosted their target price on Advanced Energy Industries from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Finally, StockNews.com initiated coverage on Advanced Energy Industries in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.86.

Advanced Energy Industries Trading Up 0.4 %

Shares of NASDAQ:AEIS opened at $116.88 on Friday. The company has a market cap of $4.39 billion, a P/E ratio of 22.74 and a beta of 1.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.15 and a quick ratio of 2.10. Advanced Energy Industries, Inc. has a 1 year low of $68.00 and a 1 year high of $122.31. The stock’s fifty day moving average price is $105.31 and its 200-day moving average price is $96.88.

Advanced Energy Industries (NASDAQ:AEIS – Get Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The electronics maker reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. The firm had revenue of $425.04 million for the quarter, compared to the consensus estimate of $411.13 million. Advanced Energy Industries had a return on equity of 22.30% and a net margin of 10.35%. Sell-side analysts expect that Advanced Energy Industries, Inc. will post 4.31 earnings per share for the current year.

Advanced Energy Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Monday, May 22nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, May 19th. Advanced Energy Industries’s payout ratio is currently 7.78%.

Insider Activity

In related news, Director Ronald C. Foster sold 1,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the director now owns 11,618 shares in the company, valued at $1,103,710. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Ronald C. Foster sold 2,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $110.92, for a total transaction of $221,840.00. Following the completion of the sale, the director now owns 7,618 shares in the company, valued at $844,988.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald C. Foster sold 1,000 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the director now owns 11,618 shares of the company’s stock, valued at approximately $1,103,710. The disclosure for this sale can be found here. Insiders have sold a total of 11,917 shares of company stock valued at $1,242,320 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Advanced Energy Industries Profile

(Free Report)

Advanced Energy Industries, Inc designs, manufactures, sells, and supports precision power conversion, measurement, and control solutions worldwide. It offers plasma power solutions, including direct current (DC), pulsed DC, low frequency alternating current, and high voltage systems, as well as radio frequency (RF) power supplies, RF matching networks, and RF instrumentation products; and remote plasma sources for reactive gas applications.