Stifel Financial Corp raised its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 110.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,090 shares of the semiconductor company’s stock after acquiring an additional 5,822 shares during the quarter. Stifel Financial Corp’s holdings in IPG Photonics were worth $2,059,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of IPGP. Harding Loevner LP boosted its stake in IPG Photonics by 86.6% during the 3rd quarter. Harding Loevner LP now owns 2,825,425 shares of the semiconductor company’s stock valued at $167,055,000 after acquiring an additional 1,311,384 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of IPG Photonics by 50,089.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 326,735 shares of the semiconductor company’s stock worth $47,409,000 after buying an additional 326,084 shares during the last quarter. BRILLIANCE ASSET MANAGEMENT Ltd lifted its position in shares of IPG Photonics by 142.5% in the 3rd quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 531,811 shares of the semiconductor company’s stock worth $98,417,000 after buying an additional 312,467 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of IPG Photonics by 8.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock worth $443,143,000 after buying an additional 245,876 shares during the last quarter. Finally, Ardevora Asset Management LLP bought a new position in shares of IPG Photonics in the 3rd quarter worth about $40,084,000. Hedge funds and other institutional investors own 56.38% of the company’s stock.
IPGP has been the topic of a number of recent research reports. ValuEngine downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. DA Davidson restated a “buy” rating and issued a $220.00 price target on shares of IPG Photonics in a research report on Tuesday, October 10th. Zacks Investment Research downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price target (up from $182.00) on shares of IPG Photonics in a research report on Friday, October 20th. Finally, Benchmark restated a “buy” rating and issued a $230.00 price target on shares of IPG Photonics in a research report on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $180.33.
Shares of IPG Photonics Corporation (NASDAQ IPGP) traded down $0.06 during trading hours on Friday, reaching $258.27. 535,564 shares of the company traded hands, compared to its average volume of 705,309. The company has a market cap of $13,900.00, a P/E ratio of 37.98, a PEG ratio of 2.82 and a beta of 1.71. IPG Photonics Corporation has a 12-month low of $98.05 and a 12-month high of $260.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.46 and a current ratio of 9.02.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.32. The firm had revenue of $392.62 million for the quarter, compared to the consensus estimate of $367.27 million. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. IPG Photonics’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same period last year, the firm posted $1.29 EPS. sell-side analysts anticipate that IPG Photonics Corporation will post 7.13 EPS for the current fiscal year.
In other IPG Photonics news, SVP Trevor Ness sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $208.17, for a total transaction of $2,081,700.00. Following the transaction, the senior vice president now owns 22,906 shares of the company’s stock, valued at approximately $4,768,342.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Igor Samartsev sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $221.59, for a total transaction of $1,772,720.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,000 shares of company stock worth $8,180,245. 33.80% of the stock is currently owned by insiders.
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IPG Photonics Company Profile
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
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