American International Group Inc. reduced its stake in shares of Advanced Energy (NASDAQ:AEIS) by 19.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,399 shares of the electronics maker’s stock after selling 6,182 shares during the quarter. American International Group Inc. owned 0.06% of Advanced Energy worth $1,623,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AEIS. Creative Planning grew its holdings in shares of Advanced Energy by 52.4% during the 4th quarter. Creative Planning now owns 3,995 shares of the electronics maker’s stock worth $270,000 after purchasing an additional 1,374 shares in the last quarter. Strs Ohio grew its holdings in shares of Advanced Energy by 5.8% during the 4th quarter. Strs Ohio now owns 20,100 shares of the electronics maker’s stock worth $1,356,000 after purchasing an additional 1,100 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Advanced Energy by 171.8% during the 4th quarter. APG Asset Management N.V. now owns 101,400 shares of the electronics maker’s stock worth $5,698,000 after purchasing an additional 64,100 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Advanced Energy by 41.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 34,046 shares of the electronics maker’s stock worth $2,297,000 after purchasing an additional 10,046 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Advanced Energy by 14.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,010 shares of the electronics maker’s stock worth $406,000 after purchasing an additional 747 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Shares of AEIS stock opened at $65.53 on Friday. Advanced Energy has a twelve month low of $57.35 and a twelve month high of $95.00. The firm has a market cap of $2.59 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.46 and a beta of 1.34.

Advanced Energy (NASDAQ:AEIS) last announced its quarterly earnings data on Monday, April 30th. The electronics maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Advanced Energy had a return on equity of 34.76% and a net margin of 20.47%. The business had revenue of $195.62 million during the quarter, compared to the consensus estimate of $187.92 million. During the same period in the prior year, the company earned $1.04 EPS. Advanced Energy’s revenue for the quarter was up 31.0% on a year-over-year basis. analysts predict that Advanced Energy will post 5.03 earnings per share for the current year.

Advanced Energy announced that its Board of Directors has authorized a stock repurchase program on Monday, May 7th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the electronics maker to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, CEO Yuval Wasserman sold 55,540 shares of the company’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $62.40, for a total transaction of $3,465,696.00. Following the completion of the sale, the chief executive officer now directly owns 141,929 shares in the company, valued at approximately $8,856,369.60. The sale was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.

AEIS has been the topic of several analyst reports. Needham & Company LLC reduced their target price on Advanced Energy from $97.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 2nd. Cowen initiated coverage on Advanced Energy in a report on Tuesday, May 15th. They set an “outperform” rating and a $78.00 target price on the stock. BidaskClub lowered Advanced Energy from a “hold” rating to a “sell” rating in a report on Wednesday, March 28th. Citigroup reduced their target price on Advanced Energy from $77.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, May 2nd. Finally, Zacks Investment Research raised Advanced Energy from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $78.17.

About Advanced Energy

Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion and control products that transform electrical power into various usable forms. It offers process power systems, including direct current (DC), pulsed DC, low frequency, high voltage, and radio frequency (RF) power supplies, as well as matching networks and remote plasma sources for reactive gas applications and RF instrumentation.

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

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