Bank of America Corp DE Boosts Position in Advanced Energy Industries, Inc. (AEIS)

Bank of America Corp DE increased its stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 1.5% during the first quarter, Holdings Channel reports. The firm owned 1,568,110 shares of the electronics maker’s stock after buying an additional 22,601 shares during the period. Bank of America Corp DE’s holdings in Advanced Energy Industries were worth $107,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AEIS. Ladenburg Thalmann Financial Services Inc. increased its stake in Advanced Energy Industries by 194.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,172 shares of the electronics maker’s stock valued at $170,000 after buying an additional 2,095 shares in the last quarter. Guggenheim Capital LLC increased its stake in Advanced Energy Industries by 292.6% in the fourth quarter. Guggenheim Capital LLC now owns 54,893 shares of the electronics maker’s stock valued at $3,006,000 after buying an additional 40,910 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Advanced Energy Industries by 15.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,910 shares of the electronics maker’s stock valued at $654,000 after buying an additional 1,572 shares in the last quarter. Tyers Asset Management LLC acquired a new stake in Advanced Energy Industries during the fourth quarter valued at $103,000. Finally, Renaissance Technologies LLC increased its stake in Advanced Energy Industries by 21.5% in the fourth quarter. Renaissance Technologies LLC now owns 379,400 shares of the electronics maker’s stock valued at $20,772,000 after buying an additional 67,200 shares in the last quarter. Institutional investors own 93.98% of the company’s stock.

Institutional Ownership by Quarter for Advanced Energy Industries (NASDAQ:AEIS)

Shares of Advanced Energy Industries, Inc. (NASDAQ AEIS) traded down 0.33% during trading on Friday, hitting $71.86. 588,072 shares of the stock traded hands. The stock has a market cap of $2.86 billion, a PE ratio of 20.16 and a beta of 1.24. Advanced Energy Industries, Inc. has a 12 month low of $35.42 and a 12 month high of $86.25. The firm’s 50-day moving average price is $77.10 and its 200-day moving average price is $65.14.

Advanced Energy Industries (NASDAQ:AEIS) last released its quarterly earnings results on Monday, May 1st. The electronics maker reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Advanced Energy Industries had a net margin of 26.92% and a return on equity of 35.38%. The firm had revenue of $149.35 million during the quarter, compared to analysts’ expectations of $147.86 million. During the same period in the previous year, the company earned $0.56 EPS. The firm’s revenue for the quarter was up 45.0% compared to the same quarter last year. Analysts anticipate that Advanced Energy Industries, Inc. will post $3.99 EPS for the current year.

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Several analysts have weighed in on AEIS shares. Citigroup Inc. boosted their price target on shares of Advanced Energy Industries from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, March 20th. Zacks Investment Research downgraded shares of Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 4th. BidaskClub downgraded shares of Advanced Energy Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, ValuEngine raised shares of Advanced Energy Industries from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $75.00.

In related news, Director Thomas M. Rohrs sold 4,000 shares of Advanced Energy Industries stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $68.56, for a total transaction of $274,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas O. Mcgimpsey sold 29,772 shares of Advanced Energy Industries stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $77.04, for a total transaction of $2,293,634.88. Following the sale, the executive vice president now owns 53,456 shares of the company’s stock, valued at approximately $4,118,250.24. The disclosure for this sale can be found here. Insiders have sold a total of 94,053 shares of company stock valued at $7,257,805 in the last quarter. 1.13% of the stock is currently owned by company insiders.

About Advanced Energy Industries

Advanced Energy Industries, Inc is a provider of engineered, precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions that transform power into various forms in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.

Want to see what other hedge funds are holding AEIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Energy Industries, Inc. (NASDAQ:AEIS).

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