Mackenzie Financial Corp Cuts Stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

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Mackenzie Financial Corp reduced its position in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 96.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,917 shares of the electronics maker’s stock after selling 118,358 shares during the quarter. Mackenzie Financial Corp’s holdings in Advanced Energy Industries were worth $220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Advanced Energy Industries in the second quarter worth $33,000. Private Capital Group LLC grew its holdings in Advanced Energy Industries by 280.0% in the second quarter. Private Capital Group LLC now owns 646 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 476 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Advanced Energy Industries in the second quarter worth $62,000. Hikari Power Ltd purchased a new position in Advanced Energy Industries in the second quarter worth $205,000. Finally, First Citizens Bank & Trust Co. purchased a new position in Advanced Energy Industries in the second quarter worth $208,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

AEIS has been the topic of several analyst reports. ValuEngine lowered shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Cowen lowered shares of Advanced Energy Industries from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $60.00 to $57.00 in a report on Friday. Citigroup raised shares of Advanced Energy Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $68.00 in a report on Monday, September 23rd. DA Davidson raised shares of Advanced Energy Industries from a “neutral” rating to a “buy” rating in a report on Thursday, September 26th. Finally, BidaskClub raised shares of Advanced Energy Industries from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $67.20.

Shares of AEIS opened at $53.83 on Friday. The firm has a market capitalization of $2.07 billion, a PE ratio of 20.33 and a beta of 1.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.83 and a quick ratio of 4.87. Advanced Energy Industries, Inc. has a 1-year low of $38.74 and a 1-year high of $60.76. The company’s fifty day moving average price is $54.52 and its 200-day moving average price is $53.65.

Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings data on Monday, August 5th. The electronics maker reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.15. The firm had revenue of $134.81 million for the quarter, compared to analyst estimates of $135.78 million. Advanced Energy Industries had a net margin of 16.80% and a return on equity of 16.57%. The business’s quarterly revenue was down 31.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. As a group, research analysts anticipate that Advanced Energy Industries, Inc. will post 1.54 EPS for the current fiscal year.

In other news, CEO Yuval Wasserman sold 6,610 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $60.05, for a total transaction of $396,930.50. Following the sale, the chief executive officer now directly owns 160,801 shares of the company’s stock, valued at $9,656,100.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

Advanced Energy Industries Profile

Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion, measurement, and control solutions that transform electrical power into various usable forms. It offers process power solutions, including direct current (DC), pulsed DC, low frequency alternating current, high voltage, and radio frequency (RF) power supplies, as well as RF 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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