Smith Asset Management Group LP boosted its position in Advanced Energy Industries Inc. (NASDAQ:AEIS) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 93,179 shares of the company’s stock after buying an additional 2,249 shares during the period. Smith Asset Management Group LP’s holdings in Advanced Energy Industries were worth $3,537,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AEIS. BlackRock Inc. boosted its stake in Advanced Energy Industries by 30.1% in the first quarter. BlackRock Inc. now owns 3,104 shares of the company’s stock worth $109,000 after buying an additional 718 shares during the period. Adams Diversified Equity Fund Inc. purchased a new stake in Advanced Energy Industries during the second quarter worth approximately $281,000. Glenmede Trust Co. NA purchased a new stake in Advanced Energy Industries during the first quarter worth approximately $258,000. Aperio Group LLC purchased a new stake in Advanced Energy Industries during the first quarter worth approximately $264,000. Finally, Bank of Montreal Can purchased a new stake in Advanced Energy Industries during the second quarter worth approximately $299,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Advanced Energy Industries Inc. (NASDAQ:AEIS) traded up 1.51% during trading on Thursday, reaching $46.96. The company’s stock had a trading volume of 494,515 shares. The firm has a 50 day moving average of $43.79 and a 200 day moving average of $37.97. Advanced Energy Industries Inc. has a 52 week low of $24.25 and a 52 week high of $47.47. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 18.00 and a beta of 1.02.

Advanced Energy Industries (NASDAQ:AEIS) last released its quarterly earnings results on Monday, August 1st. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. The company had revenue of $118.80 million for the quarter, compared to analysts’ expectations of $111.52 million. Advanced Energy Industries had a return on equity of 28.45% and a net margin of 24.01%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Analysts expect that Advanced Energy Industries Inc. will post $2.73 EPS for the current year.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a research report on Thursday, August 4th. Dougherty & Co boosted their price target on Advanced Energy Industries from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Raymond James Financial Inc. cut Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 14th. Finally, Citigroup Inc. cut Advanced Energy Industries to a “market perform” rating in a research report on Thursday, July 14th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $40.20.

About Advanced Energy Industries

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.

5 Day Chart for NASDAQ:AEIS

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).

Receive News & Ratings for Advanced Energy Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Energy Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.