Connable Office Inc. maintained its stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS) during the second quarter, Holdings Channel reports. The institutional investor owned 7,611 shares of the electronics maker’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Advanced Energy Industries were worth $492,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Advanced Energy Industries by 117,677.4% in the first quarter. BlackRock Inc. now owns 4,971,385 shares of the electronics maker’s stock worth $340,838,000 after buying an additional 4,967,164 shares during the period. Vanguard Group Inc. raised its stake in Advanced Energy Industries by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,757,244 shares of the electronics maker’s stock valued at $257,596,000 after buying an additional 141,520 shares in the last quarter. Bank of America Corp DE raised its stake in Advanced Energy Industries by 1.5% in the first quarter. Bank of America Corp DE now owns 1,568,110 shares of the electronics maker’s stock valued at $107,510,000 after buying an additional 22,601 shares in the last quarter. State Street Corp raised its stake in Advanced Energy Industries by 6.5% in the first quarter. State Street Corp now owns 979,004 shares of the electronics maker’s stock valued at $67,126,000 after buying an additional 59,618 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Advanced Energy Industries by 0.6% in the first quarter. Principal Financial Group Inc. now owns 859,004 shares of the electronics maker’s stock valued at $58,893,000 after buying an additional 5,151 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

Advanced Energy Industries, Inc. (AEIS) opened at 69.45 on Friday. The company’s 50-day moving average price is $70.32 and its 200-day moving average price is $69.23. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 17.64 and a beta of 1.34. Advanced Energy Industries, Inc. has a 52 week low of $41.01 and a 52 week high of $86.25.

Advanced Energy Industries (NASDAQ:AEIS) last announced its earnings results on Monday, July 31st. The electronics maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.15. The company had revenue of $165.95 million for the quarter, compared to analyst estimates of $155.72 million. Advanced Energy Industries had a return on equity of 36.19% and a net margin of 27.42%. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 earnings per share. Equities analysts forecast that Advanced Energy Industries, Inc. will post $4.59 earnings per share for the current fiscal year.

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A number of research firms have recently weighed in on AEIS. BidaskClub lowered Advanced Energy Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Advanced Energy Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, ValuEngine raised Advanced Energy Industries from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $72.25.

In other news, CFO Thomas Liguori sold 17,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $76.64, for a total transaction of $1,302,880.00. Following the sale, the chief financial officer now owns 73,191 shares of the company’s stock, valued at $5,609,358.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas M. Rohrs sold 4,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $64.87, for a total value of $259,480.00. The disclosure for this sale can be found here. In the last three months, insiders sold 89,796 shares of company stock worth $6,836,106. 1.13% of the stock is owned by corporate 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.

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

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