Needham & Company LLC Reiterates “Buy” Rating for Advanced Energy Industries (NASDAQ:AEIS)

Needham & Company LLC reaffirmed their buy rating on shares of Advanced Energy Industries (NASDAQ:AEIS) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $145.00 target price on the electronics maker’s stock.

AEIS has been the topic of a number of other reports. StockNews.com raised shares of Advanced Energy Industries from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company raised their target price on shares of Advanced Energy Industries from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Baird R W upgraded Advanced Energy Industries to a “strong-buy” rating in a research report on Friday, September 20th. Citigroup upgraded Advanced Energy Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $138.00 in a research report on Monday, January 6th. Finally, Bank of America upgraded Advanced Energy Industries from a “neutral” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $126.89.

Advanced Energy Industries Price Performance

Shares of Advanced Energy Industries stock opened at $121.16 on Wednesday. The company has a current ratio of 4.62, a quick ratio of 3.32 and a debt-to-equity ratio of 0.48. Advanced Energy Industries has a twelve month low of $89.11 and a twelve month high of $128.70. The business’s fifty day moving average price is $116.47 and its 200 day moving average price is $109.74. The stock has a market capitalization of $4.56 billion, a P/E ratio of 106.28, a PEG ratio of 3.77 and a beta of 1.46.

Advanced Energy Industries (NASDAQ:AEIS) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.07. Advanced Energy Industries had a return on equity of 9.02% and a net margin of 2.91%. The company had revenue of $374.20 million during the quarter, compared to the consensus estimate of $372.49 million. During the same period last year, the firm earned $1.12 earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. As a group, research analysts anticipate that Advanced Energy Industries will post 2.52 earnings per share for the current year.

Advanced Energy Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 25th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, November 25th. Advanced Energy Industries’s dividend payout ratio (DPR) is 35.09%.

Insider Activity

In other Advanced Energy Industries news, Director Lanesha Minnix sold 1,000 shares of Advanced Energy Industries stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $111.72, for a total value of $111,720.00. Following the completion of the sale, the director now directly owns 5,092 shares in the company, valued at $568,878.24. The trade was a 16.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AEIS. Federated Hermes Inc. grew its holdings in Advanced Energy Industries by 3.0% during the second quarter. Federated Hermes Inc. now owns 36,494 shares of the electronics maker’s stock valued at $3,969,000 after purchasing an additional 1,050 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Advanced Energy Industries by 8.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 209,522 shares of the electronics maker’s stock valued at $22,788,000 after buying an additional 15,590 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Advanced Energy Industries by 2.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 514,424 shares of the electronics maker’s stock worth $55,949,000 after acquiring an additional 13,967 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Advanced Energy Industries by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 950,977 shares of the electronics maker’s stock valued at $103,428,000 after acquiring an additional 15,577 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in shares of Advanced Energy Industries by 27.3% in the second quarter. Mutual of America Capital Management LLC now owns 37,850 shares of the electronics maker’s stock valued at $4,117,000 after purchasing an additional 8,108 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Advanced Energy Industries Company 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.