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AEIS - Advanced Energy Industries Inc News Story

$80.07 0.4  0.4%

Last Trade - 13/08/20

Sector
Technology
Size
Mid Cap
Market Cap £2.35bn
Enterprise Value £2.31bn
Revenue £894.7m
Position in Universe 1478th / 6381

BUZZ-Advanced Energy Industries: Rises on Q3 beat powered by Artesyn integration

Tue 12th November, 2019 3:51pm
** Shares of semiconductor equipment maker  AEIS.O  up 9.6%
at $69.33
    ** Company's Q3 sales of $175.1 mln beat avg. analysts' est.
of $141.9 mln - Refinitiv IBES data  urn:newsml:reuters.com:*:nASA002LX
    ** Q3 profit of 54 cents/shr also beats est. of 38 cents  
    ** Brokerage Raymond James says massive accretion from
Artesyn Embedded Technologies cushions the blow from macro
headwinds; raises PT to $75 from $63 
    ** Although U.S.-China and other macro headwinds continue to
weigh on industrials, organic growth looks promising - Raymond
James  
    ** AEIS bought Artesyn, a power supply company, in May for
about $400 mln  urn:newsml:reuters.com:*:nGNX7fCG5b
    ** Up to Monday's close, stock had risen 61% this year
compared with a 58% rise in the S&P 600 Semiconductor Equipment
index  .SPSMCSEQP  

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2439, outside U.S. +91 80 6749 2439;))
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