| Over a month ago | ||||
Needham analyst Quinn… Needham analyst Quinn Bolton raised the firm's price target on Advanced Energy to $112 from $88 and keeps a Buy rating on the shares. The analyst cites the company's Q4 earnings beat - its fifth in a row - and believes that Advanced Energy is positioned to "weather the storm" in semiconductors better than many of its peers. The firm also cuts its FY23 EPS view on the stock by 30c to $4.10 but expects these to be "trough earnings" and believes that shares warrant a higher than average price to earnings multiple. | ||||
Cowen analyst Krish… Cowen analyst Krish Sankar raised the firm's price target on Advanced Energy to $100 from $90 and keeps a Market Perform rating on the shares. The analyst said the March quarter guidance below the Street due to WFE slowdown is not a total surprise and while execution is impressive the stock appears fairly valued. | ||||
Sees Q1 revenue $415M,… Sees Q1 revenue $415M, plus or minus $20M, consensus $429.39M. | ||||
Reports Q4 revenue $491M,… Reports Q4 revenue $491M, consensus $476.88M. "We delivered strong financial results in the fourth quarter, taking advantage of improved component availability and solid manufacturing execution," said Steve Kelley, president and CEO of Advanced Energy. "For the full year, we achieved record revenue and earnings, thanks to strong demand in all of our markets and improved execution across the company. Although we expect lower revenue in the near-term due to a downturn in the semiconductor equipment market, we anticipate a record level of design-in activity, leveraging our strong pipeline of technology-leading products." | ||||
Needham analyst N. Quinn… Needham analyst N. Quinn Bolton is naming Axcelis (ACLS) his Top SemiCap pick for 2023 and adding it to Needham's Conviction List, replacing Advanced Energy (AEIS). The analyst has also raised the firm's price target on to $100 from $77 and keeps a Buy rating on the shares. The company has several tailwinds that will drive upside to the current share price, which include strong exposure to power devices that have high ion implant intensity and a lower exposure to advanced memory, Bolton tells investors in a research note. Axcelis is also one of only a few SemiCap names expected to grow sales in 2023, the analyst adds. | ||||
| Over a quarter ago | ||||
Meeting to be held in New… Meeting to be held in New York on December 12 and in Boston on December 13 hosted by Loop Capital. | ||||
Meeting to be held in New… Meeting to be held in New York on December 12 and in Boston on December 13 hosted by Loop Capital. | ||||
Meeting to be held in New… Meeting to be held in New York on December 12 and in Boston on December 13 hosted by Loop Capital. | ||||
Citi analyst Atif Malik… Citi analyst Atif Malik upgraded Advanced Energy Industries to Buy from Neutral with a price target of $95, down from $100, after taking over coverage of the name. The analyst believes the semiconductor equipment group has bottomed given the memory pricing collapse, domestic China spend dislocation, and estimate declines. The stocks generally rebound once memory prices hit cash costs and forward estimate revisions bottom approach prior macro corrections, Malik tells investors in a research note. | ||||
