Wed, Sep. 16, 6:14 PM
- Advanced Energy (NASDAQ:AEIS) has used its 2015 investor day to announce a $150M, 30-month, buyback, good for repurchasing 14% of shares at current levels. AEIS had $183M on its balance sheet to pay for buybacks with at the end of June.
- The buyback is part of a new capital allocation plan under which the company aims to "deploy approximately 70% of its future free cash flow to organic investments and acquisitions and 30% to share repurchases."
- Meanwhile, in its investor day slides (.pdf), AEIS has guided for Q3 revenue (excluding inverter sales) of $102M-$110M and op. income of $25M-$30M. The Q3 revenue consensus, which might not fully account for AEIS' recent decision to wind down its solar inverter ops, is at $127.5M.
Wed, Aug. 5, 11:48 AM
- Advanced Energy (AEIS +11.2%) is upgraded to Positive from Neutral with a $35 price target, raised from $22, at Susquehanna, which says the company's restructuring and execution give it greater earnings power.
- The firm expresses greater confidence in the company's earnings power, given that the new team continues to execute during the divestiture of the loss-making solar inverter division.
- The firm also expects AEIS to drive its free cash flow margin to at least 20%/year over the next few years, driven by its leaner business model.
Mon, Aug. 3, 4:56 PM
Sun, Aug. 2, 5:35 PM
- ADUS, AEIS, AIG, ALDW, ALJ, ALL, ANH, APU, BKD, BMRN, BNFT, CAR, CGNX, CHGG, CKP, CTRP, CYH, DAC, DENN, DK, DKL, ELGX, ELNK, ENH, EPIQ, EXP, FIVN, GGP, HIL, IDTI, ININ, INN, KAR, KBR, KONA, LLNW, LMNX, MCEP, MCHP, MDU, MDWD, MIC, MRC, NLS, NVGS, OHI, ONDK, ORA, OTTR, PLOW, PPS, QEP, QLYS, QNST, RBC, RSPP, RTEC, SGMS, SNHY, THC, TNET, TSRA, TXRH, UGI, VECO, VNO, VNR, WSTC, XL
Mon, Jun. 29, 4:51 PM
- Advanced Energy (NASDAQ:AEIS) has "made a strategic decision to focus solely on its Precision Power business and wind down its Solar Inverter business."
- The company expects to record $260M-$290M of charges, with $195M-$225M going towards write-downs. Cash costs are expected to total $30M-$45M, with $20M-$30M occurring in 2015.
- The inverter business has faced stiff competition from microinverter leader Enphase and inverter/power optimizer vendor SolarEdge, among others.
Mon, May 4, 4:23 PM
Sun, May 3, 5:35 PM
- ADEP, AEGR, AEIS, APC, APU, ATEN, BALT, BBRG, BKH, CAR, CDE, CGNX, CHUY, CKEC, CXO, DENN, DNB, DVA, ECOM, EGOV, ELNK, ENH, EOG, EOX, FBP, FN, FNF, HIL, IDTI, IM, ININ, INN, INVN, IRG, ITRI, KS, LMNX, LSCC, MATX, MCEP, MDU, MERU, MIC, MUSA, NLS, NUVA, ONDK, OTTR, PACD, PLOW, PPS, PQ, PTCT, QLYS, RAIL, RGR, ROSE, RWT, SGY, SHO, SNHY, STAG, THC, TXRH, UGI, VNO, XEC, XPO
Thu, Apr. 16, 5:29 PM
- Tom Liguori, currently the CFO of circuit board maker Multi-Fineline (NASDAQ:MFLX), will become power converter maker Advanced Energy's (NASDAQ:AEIS) CFO on May 18. His hiring comes 5 months after AEIS announced Danny Herron would be stepping down as CFO.
- MFLX will begin a search for Liguori's successor. In tandem with the news, the company has announced it expects Q1 revenue of $145M-$150M; the 2-analyst consensus is at $145.7M. Gross margin is expected to be at 12%-13% (above guidance), and MFLX's top customer (Apple?) is expected to make up 65% of sales.
Mon, Feb. 2, 4:07 PM
Sun, Feb. 1, 5:35 PM
Dec. 22, 2014, 4:12 PM
- The options being considered by Advanced Energy (NASDAQ:AEIS) for its solar inverter ops include "a sale, joint venture, partnership, licensing or other alternatives including additional product line optimization and rationalization, in order to maximize shareholder value."
- AEIS also says it plans to record a $10M-$14M non-cash inventory charge in Q4 related to "the company's strategic review and resulting retirement of certain central inverter legacy products."
- Central (string) solar inverters have been losing ground to microinverters. The former are cheaper than the latter, but can also be less reliable and/or efficient.
- Shares are halted.
Nov. 18, 2014, 4:42 PM
Nov. 3, 2014, 4:13 PM
Nov. 2, 2014, 5:35 PM
- ACXM, AEIS, AGU, AIG, AMTG, ANV, APL, BDE, BKH, CHGG, CKP, CRK, CUTR, CVD, CXW, CYH, DXPE, EGAN, ELNK, ENH, EOX, EPAM, EQC, FN, FTR, GALE, GRT, GTY, HLF, IART, ININ, KAMN, KBR, LCI, MCEP, MDU, MR, MRO, NBIX, NLS, NOR, NTRI, OGS, OTTR, PKT, PL, PLOW, PQ, QLYS, RBC, REG, RKT, RKUS, RLD, RTEC, SALE, SBRA, SGY, SKH, SNHY, SRC, SSW, SUP, TDW, THC, TXRH, VNO, VNR, WTR, Y
Oct. 1, 2014, 8:33 AM
Aug. 4, 2014, 4:12 PM
AEIS vs. ETF Alternatives
Advanced Energy Industries Inc offers power conversion products for direct current, pulsed DC mid-frequency, high voltage, and radio frequency power supplies, matching networks, RF instrumentation, and PCM as well as thermal instrumentation products.
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