Needham & Company Maintains a 'Hold' on Advanced Energy Industries (AEIS); Analyst Event Highlights Management’s Focus on Driving Shareholder Value

Needham & Company maintains a 'Hold' on Advanced Energy Industries (NASDAQ: AEIS).

Needham analyst says, "Yesterday, AEIS held a well attended Analyst Event in NYC. Management provided a 3-year strategic plan, highlighting its focus on increasing shareholder value in three ways: 1) grow revenues by broadening product portfolios and expanding TAMs; 2) improve margins through cost initiatives, mostly in solar inverter; and 3) return cash to shareholders by announcing a $75MM buyback. We believe AEIS is focusing on the areas that will drive earnings growth, but near-term challenges in multiple markets will prevent the share price from moving higher."

For an analyst ratings summary and ratings history on Advanced Energy Industries click here. For more ratings news on Advanced Energy Industries click here.

Shares of Advanced Energy Industries closed at $8.85 yesterday.

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