Polar Asset Management Partners Inc. acquired a new stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,014 shares of the electronics maker’s stock, valued at approximately $3,232,000.
Other institutional investors have also made changes to their positions in the company. SummitTX Capital L.P. acquired a new stake in Advanced Energy Industries during the 1st quarter valued at $4,029,000. Ardmore Road Asset Management LP purchased a new stake in Advanced Energy Industries during the 1st quarter worth $14,199,000. Renaissance Technologies LLC acquired a new position in Advanced Energy Industries in the 1st quarter worth $749,000. Hilltop Holdings Inc. acquired a new position in Advanced Energy Industries in the 1st quarter worth $272,000. Finally, Compound Planning Inc. purchased a new position in Advanced Energy Industries in the 1st quarter valued at about $263,000. 99.67% of the stock is owned by institutional investors and hedge funds.
Advanced Energy Industries Stock Performance
Shares of AEIS stock opened at $291.95 on Tuesday. Advanced Energy Industries, Inc. has a one year low of $128.40 and a one year high of $397.44. The company’s 50-day simple moving average is $323.93 and its 200-day simple moving average is $318.88. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 61.46, a PEG ratio of 1.27 and a beta of 1.25.
Advanced Energy Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 25th were given a $0.10 dividend. The ex-dividend date was Friday, May 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Advanced Energy Industries’s dividend payout ratio (DPR) is presently 8.42%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Weiss Ratings cut Advanced Energy Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Bank of America lifted their price objective on Advanced Energy Industries from $430.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Morgan Stanley began coverage on Advanced Energy Industries in a research report on Wednesday, July 22nd. They issued an “overweight” rating and a $421.00 target price on the stock. Citigroup increased their target price on Advanced Energy Industries from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, KeyCorp raised their price target on shares of Advanced Energy Industries from $375.00 to $415.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $404.25.
Check Out Our Latest Analysis on AEIS
Advanced Energy Industries Profile
Advanced Energy Industries, Inc is a global technology company specializing in precision power conversion, measurement, and control solutions. The company designs and manufactures a broad portfolio of products including high-voltage power supplies, RF and microwave generators, digital power controllers, reactive gas control systems, and thin film measurement instruments. These solutions enable advanced processes in semiconductor fabrication, flat panel display manufacturing, industrial coating, data storage, telecommunications and medical device production.
Founded in 1981 and headquartered in Fort Collins, Colorado, Advanced Energy has grown through strategic product development and international expansion.
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