Advanced Energy Industries, Inc. (AEIS) Holdings Cut by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC reduced its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 82.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,486 shares of the electronics maker’s stock after selling 50,404 shares during the period. Cornerstone Wealth Management LLC’s holdings in Advanced Energy Industries were worth $125,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Advanced Energy Industries by 5.5% during the 2nd quarter. BlackRock Inc. now owns 5,639,384 shares of the electronics maker’s stock valued at $327,592,000 after purchasing an additional 293,718 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Advanced Energy Industries by 26.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,392,622 shares of the electronics maker’s stock valued at $80,897,000 after purchasing an additional 290,200 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Advanced Energy Industries by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,108,386 shares of the electronics maker’s stock valued at $64,386,000 after purchasing an additional 22,118 shares during the last quarter. Northern Trust Corp increased its position in shares of Advanced Energy Industries by 0.7% during the 2nd quarter. Northern Trust Corp now owns 888,467 shares of the electronics maker’s stock valued at $51,611,000 after purchasing an additional 6,572 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Advanced Energy Industries by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 651,524 shares of the electronics maker’s stock valued at $41,632,000 after purchasing an additional 5,673 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AEIS stock traded down $0.04 during mid-day trading on Monday, hitting $47.00. The stock had a trading volume of 354,661 shares, compared to its average volume of 421,565. Advanced Energy Industries, Inc. has a 12-month low of $40.43 and a 12-month high of $77.99. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.12 and a beta of 1.12.

Advanced Energy Industries (NASDAQ:AEIS) last issued its earnings results on Monday, October 29th. The electronics maker reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.05. The business had revenue of $173.10 million during the quarter, compared to analysts’ expectations of $170.50 million. Advanced Energy Industries had a return on equity of 32.09% and a net margin of 13.18%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 EPS. Analysts forecast that Advanced Energy Industries, Inc. will post 4.19 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Advanced Energy Industries from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. Citigroup cut their price objective on Advanced Energy Industries from $68.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 25th. TheStreet downgraded Advanced Energy Industries from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. BidaskClub downgraded Advanced Energy Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Finally, Stifel Nicolaus set a $74.00 price objective on Advanced Energy Industries and gave the company a “hold” rating in a research report on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $70.17.

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Advanced Energy Industries Company Profile

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 Industries (NASDAQ:AEIS)

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