Corebridge Financial Inc. Sells 1,557 Shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Corebridge Financial Inc. lowered its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,936 shares of the electronics maker’s stock after selling 1,557 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Advanced Energy Industries worth $2,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AEIS. Raymond James Financial Inc. acquired a new stake in shares of Advanced Energy Industries in the 4th quarter valued at approximately $9,864,000. Vanguard Group Inc. raised its holdings in Advanced Energy Industries by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,913,669 shares of the electronics maker’s stock worth $568,168,000 after purchasing an additional 69,908 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Advanced Energy Industries during the fourth quarter worth $8,002,000. Principal Financial Group Inc. grew its holdings in shares of Advanced Energy Industries by 12.4% in the 3rd quarter. Principal Financial Group Inc. now owns 483,848 shares of the electronics maker’s stock valued at $50,920,000 after buying an additional 53,566 shares during the period. Finally, Sora Investors LLC bought a new stake in shares of Advanced Energy Industries in the 3rd quarter valued at $4,736,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Advanced Energy Industries Price Performance

Shares of NASDAQ AEIS opened at $95.16 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.42 and a quick ratio of 3.27. The business has a 50-day moving average of $112.63 and a 200-day moving average of $112.48. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 66.55, a PEG ratio of 1.39 and a beta of 1.43. Advanced Energy Industries, Inc. has a fifty-two week low of $89.12 and a fifty-two week high of $132.16.

Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Wednesday, February 12th. The electronics maker reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). Advanced Energy Industries had a net margin of 3.66% and a return on equity of 8.90%. As a group, sell-side analysts predict that Advanced Energy Industries, Inc. will post 3.66 earnings per share for the current fiscal year.

Advanced Energy Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, February 24th. Advanced Energy Industries’s dividend payout ratio (DPR) is currently 27.97%.

Analysts Set New Price Targets

Several research firms have weighed in on AEIS. Bank of America upgraded Advanced Energy Industries from a “neutral” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Monday, December 16th. Robert W. Baird cut their price objective on Advanced Energy Industries from $138.00 to $136.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Citigroup raised Advanced Energy Industries from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $138.00 in a research note on Monday, January 6th. Stifel Nicolaus lifted their price target on shares of Advanced Energy Industries from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price objective on shares of Advanced Energy Industries from $115.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Energy Industries presently has an average rating of “Moderate Buy” and an average price target of $126.56.

Insider Buying and Selling at Advanced Energy Industries

In other Advanced Energy Industries news, COO Eduardo Bernal Acebedo sold 19,309 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $111.61, for a total value of $2,155,077.49. Following the sale, the chief operating officer now owns 19,822 shares in the company, valued at $2,212,333.42. This represents a 49.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lanesha Minnix sold 1,600 shares of Advanced Energy Industries stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.37, for a total value of $206,992.00. Following the transaction, the director now owns 3,492 shares of the company’s stock, valued at $451,760.04. This represents a 31.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Advanced Energy Industries Profile

Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.