Assenagon Asset Management S.A. reduced its stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS – Free Report) by 27.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,671 shares of the electronics maker’s stock after selling 5,482 shares during the period. Assenagon Asset Management S.A.’s holdings in Advanced Energy Industries were worth $3,072,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in AEIS. Park Place Capital Corp bought a new stake in Advanced Energy Industries in the fourth quarter valued at about $51,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Advanced Energy Industries by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,464 shares of the electronics maker’s stock worth $935,000 after buying an additional 96 shares during the last quarter. Cooper Financial Group bought a new position in Advanced Energy Industries during the fourth quarter worth about $209,000. IAM Advisory LLC acquired a new position in shares of Advanced Energy Industries during the 4th quarter worth about $1,075,000. Finally, GAMMA Investing LLC grew its position in shares of Advanced Energy Industries by 14.4% during the 4th quarter. GAMMA Investing LLC now owns 2,592 shares of the electronics maker’s stock worth $543,000 after buying an additional 327 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.
Advanced Energy Industries Price Performance
NASDAQ:AEIS opened at $298.29 on Tuesday. The business’s 50-day simple moving average is $302.54 and its 200-day simple moving average is $237.71. Advanced Energy Industries, Inc. has a fifty-two week low of $75.01 and a fifty-two week high of $360.00. The stock has a market capitalization of $11.29 billion, a PE ratio of 78.09, a price-to-earnings-growth ratio of 2.28 and a beta of 1.35.
Advanced Energy Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, February 23rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Advanced Energy Industries’s dividend payout ratio is currently 10.47%.
Analysts Set New Price Targets
A number of analysts recently weighed in on AEIS shares. Needham & Company LLC increased their price target on shares of Advanced Energy Industries from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Susquehanna boosted their price objective on shares of Advanced Energy Industries from $300.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday, February 11th. Wall Street Zen upgraded shares of Advanced Energy Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. KeyCorp lifted their price target on shares of Advanced Energy Industries from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Finally, TD Cowen reissued a “hold” rating on shares of Advanced Energy Industries in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $318.50.
Check Out Our Latest Stock Report on AEIS
Insider Buying and Selling at Advanced Energy Industries
In related news, EVP Elizabeth Karpinski Vonne sold 964 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $328.42, for a total transaction of $316,596.88. Following the sale, the executive vice president directly owned 11,683 shares in the company, valued at $3,836,930.86. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Paul R. Oldham sold 4,314 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $315.99, for a total transaction of $1,363,180.86. Following the completion of the sale, the executive vice president directly owned 22,217 shares in the company, valued at $7,020,349.83. This represents a 16.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 57,512 shares of company stock valued at $18,210,172 over the last quarter. 1.20% of the stock is currently owned by corporate insiders.
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc is a global technology company specializing in precision power conversion, measurement, and control solutions. The company designs and manufactures a broad portfolio of products including high-voltage power supplies, RF and microwave generators, digital power controllers, reactive gas control systems, and thin film measurement instruments. These solutions enable advanced processes in semiconductor fabrication, flat panel display manufacturing, industrial coating, data storage, telecommunications and medical device production.
Founded in 1981 and headquartered in Fort Collins, Colorado, Advanced Energy has grown through strategic product development and international expansion.
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