State of Alaska Department of Revenue Reduces Position in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

State of Alaska Department of Revenue trimmed its stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,501 shares of the electronics maker’s stock after selling 483 shares during the period. State of Alaska Department of Revenue owned 0.06% of Advanced Energy Industries worth $2,262,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AEIS. GAMMA Investing LLC increased its position in Advanced Energy Industries by 157.6% in the second quarter. GAMMA Investing LLC now owns 626 shares of the electronics maker’s stock worth $68,000 after buying an additional 383 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Advanced Energy Industries in the 2nd quarter worth approximately $87,000. Blue Trust Inc. raised its stake in Advanced Energy Industries by 2,150.0% during the 3rd quarter. Blue Trust Inc. now owns 810 shares of the electronics maker’s stock worth $88,000 after acquiring an additional 774 shares during the period. Hilltop National Bank lifted its holdings in Advanced Energy Industries by 13.4% during the second quarter. Hilltop National Bank now owns 983 shares of the electronics maker’s stock valued at $107,000 after purchasing an additional 116 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Advanced Energy Industries in the second quarter worth approximately $109,000. 99.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AEIS shares. Needham & Company LLC restated a “hold” rating on shares of Advanced Energy Industries in a research report on Thursday. StockNews.com downgraded Advanced Energy Industries from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Wells Fargo & Company cut their target price on Advanced Energy Industries from $103.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Benchmark reissued a “buy” rating and issued a $117.00 price target on shares of Advanced Energy Industries in a report on Wednesday, July 31st. Finally, Stifel Nicolaus assumed coverage on shares of Advanced Energy Industries in a report on Thursday, August 15th. They set a “buy” rating and a $135.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $112.75.

Advanced Energy Industries Price Performance

Advanced Energy Industries stock opened at $109.57 on Friday. Advanced Energy Industries, Inc. has a 52-week low of $85.26 and a 52-week high of $119.75. The company has a quick ratio of 4.22, a current ratio of 5.47 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average is $104.05 and its 200 day moving average is $104.84. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 96.11, a PEG ratio of 5.45 and a beta of 1.49.

Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.14. Advanced Energy Industries had a net margin of 2.91% and a return on equity of 9.05%. The firm had revenue of $364.95 million during the quarter, compared to the consensus estimate of $350.06 million. During the same quarter last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. Sell-side analysts forecast that Advanced Energy Industries, Inc. will post 2.47 EPS for the current fiscal year.

Advanced Energy Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Monday, November 25th. Advanced Energy Industries’s dividend payout ratio (DPR) is 35.09%.

Advanced Energy Industries Profile

Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.