This power solution company beat EPS estimates by $0.14 last quarter and set record annual earnings.
Advanced Energy Industries, Inc. (AEIS)
From The Personal Capitalist
Advanced Energy reported better than expected Q4 adjusted earnings as revenues rose nearly 10% year over year to $371M. The full year 2020 non-GAAP EPS was a record $5.23, more than double the $2.44 from full year 2019. The company issued in-line guidance for the first quarter seeing EPS of $1.10-$1.40, and revenues of $335M-$3.65M.
It also announced that Yuval Wasserman will retire as President and CEO and also as a member of the board, effective March 1. Wasserman became President and CEO in 2014 after joining the company 14 years ago. Former Amkor Technology President and CEO, Steve Kelley, will take over as Advanced Energy’s new President and CEO.
AEIS initiated a quarterly cash dividend of $.10 per share, payable March 5, 2021 to shareholders of record as of February 22 2021. AEIS is our number one performer. The 52-week low is $33.38. We have enjoyed the ride, going back to our original investment in Plasmatherm (7/25/92), which became RF Power and ultimately AEIS, making us long-term holders with a remarkable cost basis.
AEIS continues to have a bright future. Subscribers are urged to research the company and its products at advancedenergy.com. Timing seems good for the semiconductor sector.
Sean Christian, The Personal Capitalist, 9524 East 81st Street, Suite B #1715, Tulsa, OK 74133, February 15, 2021