Baron Funds Considers Advanced Energy Industries (AEIS) as an Attractively Valued Stock

Baron Funds, an asset management company, released its “Baron Discovery Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund was down 22.66% in the second quarter, 3.41% below its benchmark index, the Russell 2000 Growth Index. The firm focuses more on secular growth stories instead of cyclical companies. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Baron Funds discussed stocks like Advanced Energy Industries, Inc. (NASDAQ:AEIS) in the second quarter investor letter. Based in Denver, Colorado, Advanced Energy Industries, Inc. (NASDAQ:AEIS) provides precision power conversion, measurement, and control solutions. On September 9, 2022, Advanced Energy Industries, Inc. (NASDAQ:AEIS) stock closed at $88.63 per share. One-month return of Advanced Energy Industries, Inc. (NASDAQ:AEIS) was -7.15% and its shares gained 0.62% of their value over the last 52 weeks. Advanced Energy Industries, Inc. (NASDAQ:AEIS) has a market capitalization of $3.311 billion.

Here is what Baron Funds specifically said about Advanced Energy Industries, Inc. (NASDAQ:AEIS) in its Q2 2022 investor letter:

“Advanced Energy Industries, Inc. (NASDAQ:AEIS) is a designer and manufacturer of power components that ensure precision power delivery for end-market applications including semiconductor manufacturing, medical procedures, and data center equipment. At May 11, 2022, Advanced Energy was trading for only 9 times 2022 and 6 times 2023 cash flow for a high-quality industrial company growing 7% to 10% on a normalized basis, without including accretive mergers and acquisitions.”

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Advanced Energy Industries, Inc. (NASDAQ:AEIS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Advanced Energy Industries, Inc. (NASDAQ:AEIS) at the end of the second quarter which was 16 in the previous quarter.

We discussed Advanced Energy Industries, Inc. (NASDAQ:AEIS) in another article and shared Baron Discovery Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.