Verition Fund Management LLC Trims Position in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Verition Fund Management LLC lessened its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS – Get Rating) by 51.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,695 shares of the electronics maker’s stock after selling 2,810 shares during the period. Verition Fund Management LLC’s holdings in Advanced Energy Industries were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of AEIS. Raymond James Financial Services Advisors Inc. raised its holdings in Advanced Energy Industries by 6.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,220 shares of the electronics maker’s stock valued at $1,138,000 after buying an additional 828 shares during the period. Bank of New York Mellon Corp raised its holdings in Advanced Energy Industries by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 395,624 shares of the electronics maker’s stock valued at $34,056,000 after buying an additional 7,996 shares during the period. US Bancorp DE raised its holdings in Advanced Energy Industries by 29.9% in the 1st quarter. US Bancorp DE now owns 1,829 shares of the electronics maker’s stock valued at $158,000 after buying an additional 421 shares during the period. HighTower Advisors LLC raised its holdings in Advanced Energy Industries by 24.5% in the 1st quarter. HighTower Advisors LLC now owns 3,841 shares of the electronics maker’s stock valued at $330,000 after buying an additional 755 shares during the period. Finally, Citigroup Inc. raised its holdings in Advanced Energy Industries by 8.0% in the 1st quarter. Citigroup Inc. now owns 33,944 shares of the electronics maker’s stock valued at $2,922,000 after buying an additional 2,519 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Advanced Energy Industries Stock Performance

Shares of Advanced Energy Industries stock opened at $92.62 on Friday. Advanced Energy Industries, Inc. has a one year low of $67.55 and a one year high of $101.00. The company has a market cap of $3.47 billion, a PE ratio of 17.51 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 3.02. The business has a 50-day simple moving average of $93.61 and a 200-day simple moving average of $87.75.

Advanced Energy Industries (NASDAQ:AEIS – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The electronics maker reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.12. Advanced Energy Industries had a return on equity of 23.65% and a net margin of 10.82%. The business had revenue of $490.70 million during the quarter, compared to the consensus estimate of $477.03 million. During the same period in the previous year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, equities research analysts forecast that Advanced Energy Industries, Inc. will post 4.29 EPS for the current fiscal year.

Advanced Energy Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 3rd. Investors of record on Monday, February 20th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Thursday, February 16th. Advanced Energy Industries’s dividend payout ratio (DPR) is 7.56%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. DA Davidson restated a “buy” rating on shares of Advanced Energy Industries in a report on Tuesday, January 3rd. Citigroup lifted their target price on Advanced Energy Industries from $95.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, February 15th. Benchmark lifted their target price on Advanced Energy Industries from $90.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Cowen lifted their target price on Advanced Energy Industries from $90.00 to $100.00 and gave the company a “market perform” rating in a research report on Thursday, February 9th. Finally, Needham & Company LLC lifted their target price on Advanced Energy Industries from $88.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.43.

About Advanced Energy Industries

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Advanced Energy Industries, Inc engages in the provision of precision power conversion, measurement, and control solutions. Its products include Plasma Power Generators, High Voltage Products, Low Voltage Power Supplies, Remote Plasma Sources, Temperature Measurement Products, SCR Power Controllers, Electrostatic Products, and Gas Sensors.