Shares of Advanced Energy Industries Inc. (NASDAQ:AEIS) shot up 1.8% on Wednesday . The company traded as high as $40.15 and last traded at $39.95, with a volume of 94,120 shares traded. The stock had previously closed at $39.26.

A number of brokerages recently weighed in on AEIS. Needham & Company LLC cut shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a research note on Monday, April 18th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Wednesday, May 4th. Susquehanna cut shares of Advanced Energy Industries from a “positive” rating to a “neutral” rating in a research note on Tuesday, April 19th. Finally, Bank of America Corp. cut shares of Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research note on Wednesday, April 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.00.

The stock’s market capitalization is $1.58 billion. The company has a 50 day moving average of $37.80 and a 200-day moving average of $32.76.

Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.08. The company had revenue of $103 million for the quarter, compared to analyst estimates of $95.89 million. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. On average, equities analysts expect that Advanced Energy Industries Inc. will post $2.45 earnings per share for the current fiscal year.

Other hedge funds and institutional investors have modified their holdings of the company. Globeflex Capital L P increased its position in shares of Advanced Energy Industries by 9.6% in the fourth quarter. Globeflex Capital L P now owns 35,547 shares of the company’s stock valued at $1,003,000 after buying an additional 3,114 shares in the last quarter. Chicago Equity Partners LLC increased its position in shares of Advanced Energy Industries by 24.2% in the fourth quarter. Chicago Equity Partners LLC now owns 45,621 shares of the company’s stock valued at $1,288,000 after buying an additional 8,890 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Advanced Energy Industries during the fourth quarter valued at approximately $1,561,000. Rhumbline Advisers increased its position in shares of Advanced Energy Industries by 3.8% in the fourth quarter. Rhumbline Advisers now owns 61,903 shares of the company’s stock valued at $1,748,000 after buying an additional 2,260 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Advanced Energy Industries by 253.5% in the fourth quarter. Bank of Montreal Can now owns 83,502 shares of the company’s stock valued at $2,358,000 after buying an additional 59,879 shares in the last quarter.

Advanced Energy Industries, Inc provides precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions, used in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.

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