Advanced Energy Industries
Precision power systems for semiconductor tools, AI data centers, medical equipment, and industrial applications.
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Profile
Designs precision power conversion, measurement, and control products for semiconductor equipment, AI data centers, industrial and medical systems, and telecom networks. Revenue comes mainly from product sales to global OEMs, with semiconductor and data-center demand—and a concentrated customer base—shaping results.
Designs, manufactures, sells, and services precision power conversion, measurement, and control systems for semiconductor equipment, data center computing, industrial and medical applications, and telecom and networking. Plasma platforms including eVoS, eVerest, and NavX supply RF generators and matching networks, while high-voltage, AC-DC, and DC-DC products power fab tools, AI server racks, medical devices, automation equipment, and communications infrastructure.
Competes through power density, efficiency, reliability, application-specific engineering, and a global service network. Sales reach OEMs, distributors, and end users worldwide, while primary manufacturing is concentrated in the Philippines, Malaysia, and Mexico.
Operates as a single power-electronics reporting segment; the named markets are end markets, not business segments. Demand remains tied to semiconductor equipment investment and data-center buildouts; export controls and tariffs affect China-related business, and a small group of customers accounts for most revenue.
Company facts
Key statistics
Year to date +22.9% · Average volume (30d) 658.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | Seaport Global | Upgrade | Neutral | Buy | ||
| Aug 4, 2026 | Seaport Global | Upgrade | Buy | $410 | ||
| Aug 4, 2026 | Morgan Stanley | Reiterate | Overweight | $421 | $439 | |
| Jul 22, 2026 | Morgan Stanley | Initiate | Overweight | $421 | ||
| Jul 1, 2026 | Wells Fargo | Upgrade | Buy | Overweight | $225 | $465 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $2.21 | $2.74 | +24.0% | $544.4M | $574.1M | +5.5% | +15.19% |
| May 4, 2026Q1 FY26 | $1.97 | $2.09 | +6.1% | $505.8M | $511.0M | +1.0% | −10.70% |
| Feb 10, 2026Q4 FY25 | $1.77 | $1.94 | +9.6% | $473.9M | $489.4M | +3.3% | +10.65% |
| Nov 4, 2025Q3 FY25 | $1.47 | $1.74 | +18.4% | $473.1M | $463.3M | −2.1% | +15.77% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $404.6M | $441.5M | $463.3M | $489.4M | $511.0M | $574.1M | |
| Gross profit | $150.5M | $163.4M | $179.9M | $193.0M | $200.9M | $236.1M | |
| Operating income | $30.6M | $31.6M | $49.2M | $64.1M | $70.9M | $95.1M | |
| Net income | $24.7M | $25.2M | $46.2M | $52.3M | $66.8M | $54.1M | |
| Diluted EPS | $0.65 | $0.67 | $1.20 | $1.30 | $1.58 | $1.28 | |
| Gross margin | 37.2% | 37.0% | 38.8% | 39.4% | 39.3% | 41.1% | |
| Operating margin | 7.6% | 7.2% | 10.6% | 13.1% | 13.9% | 16.6% |
Fiscal years (4-quarter sums)FY21 $1.46B · FY22 $1.85B · FY23 $1.66B · FY24 $1.48B · FY25 $1.80B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.40B · Total debt $1.38B · Total assets $3.43B · Shareholders' equity $1.46B
Dividends
Raised for 4 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 24, 2026 | Aug 24 | Sep 4 | $0.10 | |
| May 22, 2026 | May 25 | Jun 5 | $0.10 | |
| Feb 23, 2026 | Feb 23 | Mar 6 | $0.10 | |
| Nov 24, 2025 | Nov 24 | Dec 5 | $0.10 | |
| Aug 25, 2025 | Aug 25 | Sep 5 | $0.10 | |
| May 23, 2025 | May 26 | Jun 6 | $0.10 | |
| Feb 24, 2025 | Feb 24 | Mar 7 | $0.10 | |
| Nov 25, 2024 | Nov 25 | Dec 6 | $0.10 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 40.05M · Float 39.62M · 98.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 4.63M | 11.55% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 2.14M | 5.35% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 1.71M | 4.28% | 13F | Aug 13, 2026 |
| Ameriprise Financial Inc | 1.56M | 3.89% | 13F | Aug 14, 2026 |
| FMR LLC | 1.42M | 3.54% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 27, 2026 | Elizabeth Karpinski Vonne | officer: EVP, General Counsel | −907 | $290.05 |
| Aug 18, 2026 | Eduardo Bernal Acebedo | officer: EVP and COO | −24,771 | $315.48 |
| Aug 18, 2026 | Elizabeth Karpinski Vonne | officer: EVP, General Counsel | −908 | $332.68 |
| Aug 5, 2026 | Anne DelSanto | director | −270 | $345.00 |
| Jun 15, 2026 | Brian Shirley | director | −1,234 | $372.35 |
Peers
- MKS
Deepest head-to-head rival in semiconductor RF/DC power and matching networks.
- Flex
Named rival in data center power shelves; grid-to-chip solutions at hyperscale.
- Vicor
High-density DC-DC for AI racks; Vicor 10-K names AEIS as direct rival.
