Synovus Financial Corp Purchases 1,107 Shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Synovus Financial Corp lifted its position in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 19.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,669 shares of the electronics maker’s stock after acquiring an additional 1,107 shares during the quarter. Synovus Financial Corp’s holdings in Advanced Energy Industries were worth $702,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Earnest Partners LLC grew its stake in shares of Advanced Energy Industries by 13.5% in the 2nd quarter. Earnest Partners LLC now owns 1,681,776 shares of the electronics maker’s stock worth $182,910,000 after acquiring an additional 199,578 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Advanced Energy Industries by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 950,977 shares of the electronics maker’s stock worth $103,428,000 after acquiring an additional 15,577 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Advanced Energy Industries by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 884,402 shares of the electronics maker’s stock worth $93,094,000 after acquiring an additional 15,030 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Advanced Energy Industries by 22.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 647,682 shares of the electronics maker’s stock worth $70,442,000 after buying an additional 118,328 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Advanced Energy Industries by 23.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 540,213 shares of the electronics maker’s stock worth $58,754,000 after buying an additional 102,659 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

Insider Transactions at Advanced Energy Industries

In other news, Director Lanesha Minnix sold 1,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $111.72, for a total value of $111,720.00. Following the sale, the director now directly owns 5,092 shares of the company’s stock, valued at approximately $568,878.24. This represents a 16.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Susquehanna cut their price target on shares of Advanced Energy Industries from $103.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. TD Cowen cut their price target on shares of Advanced Energy Industries from $120.00 to $118.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Benchmark reissued a “buy” rating and issued a $125.00 price target on shares of Advanced Energy Industries in a report on Wednesday, November 20th. Wells Fargo & Company boosted their price target on shares of Advanced Energy Industries from $98.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Bank of America raised shares of Advanced Energy Industries from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Monday. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Advanced Energy Industries presently has an average rating of “Moderate Buy” and an average target price of $120.25.

Advanced Energy Industries Price Performance

NASDAQ AEIS opened at $120.65 on Wednesday. The company has a market cap of $4.55 billion, a PE ratio of 105.83, a price-to-earnings-growth ratio of 6.92 and a beta of 1.47. Advanced Energy Industries, Inc. has a 52 week low of $89.11 and a 52 week high of $124.02. The company has a quick ratio of 3.32, a current ratio of 4.62 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $113.03 and its two-hundred day simple moving average is $108.21.

Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. Advanced Energy Industries had a net margin of 2.91% and a return on equity of 9.02%. The firm had revenue of $374.20 million for the quarter, compared to the consensus estimate of $372.49 million. During the same period in the prior year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. Research analysts predict that Advanced Energy Industries, Inc. will post 2.52 earnings per share for the current year.

Advanced Energy Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 25th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Monday, November 25th. Advanced Energy Industries’s payout ratio is 35.09%.

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.