Ethic Inc. has increased its investment in Advanced Energy Industries, Inc. (NASDAQ: AEIS) by 20.5% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), Ethic Inc. now owns 5,542 shares of the electronics manufacturer’s stock, having acquired an additional 942 shares over the quarter. The value of Ethic Inc.’s holdings in Advanced Energy Industries stood at approximately $733,000 at the end of this reporting period.
A number of large institutional investors have also adjusted their positions in Advanced Energy Industries recently. For instance, Principal Financial Group Inc. increased its holdings by 0.3% in the first quarter, now owning 477,296 shares valued at $45.49 million after purchasing an additional 1,624 shares. Similarly, Charles Schwab Investment Management Inc. raised its stake by 1.1%, bringing its total to 465,162 shares worth $44.33 million after acquiring 5,041 additional shares.
Segall Bryant & Hamill LLC increased its holdings by 5.7% during the same period, accumulating 163,300 shares valued at $15.56 million following an acquisition of 8,852 shares. Notably, MetLife Investment Management LLC significantly boosted its investment by 557.2%, now holding 148,479 shares worth $14.15 million after buying an additional 125,888 shares. Fort Washington Investment Advisors Inc. OH also raised its position in Advanced Energy Industries by 7.3%, now owning 136,017 shares valued at $18.02 million.
Institutional investors currently control approximately 99.67% of Advanced Energy Industries’ stock. In related news, John Donaghey, Executive Vice President of Advanced Energy Industries, sold 1,000 shares on August 13, 2023, at an average price of $160.73, totaling $160,730. Following this transaction, Donaghey retains ownership of 10,029 shares valued at approximately $1.61 million. This sale represents a 9.07% reduction in his ownership. Company insiders currently own 1.20% of the stock.
Stock Performance and Financial Outlook
On August 5, 2023, Advanced Energy Industries reported its latest quarterly earnings, revealing earnings per share (EPS) of $1.50, surpassing analysts’ expectations of $1.28 by $0.22. The company generated $441.5 million in revenue for the quarter, exceeding the forecasted $421.32 million. Year-over-year, this marks a 21.0% increase in revenue compared to the same quarter last year, when the firm reported an EPS of $0.85.
The company’s stock opened at $205.12 on Tuesday, with a market capitalization of $7.74 billion. Advanced Energy Industries has a price-to-earnings (PE) ratio of 92.81 and a price-to-earnings growth (PEG) ratio of 1.60. Its 50-day moving average is $168.72, while the 200-day moving average is $139.87. The firm has recorded a 52-week low of $75.01 and a 52-week high of $206.85.
Looking ahead, Advanced Energy Industries has provided guidance for the third quarter of fiscal year 2025, projecting an EPS between $1.20 and $1.70. Analysts forecast an average EPS of 3.66 for the current fiscal year.
About Advanced Energy Industries
Advanced Energy Industries, Inc. is a provider of precision power conversion, measurement, and control solutions, operating both in the United States and internationally. The company specializes in plasma power products that support innovation in semiconductor and thin film plasma processes, including dry etch and deposition technologies.
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