IPG Photonics Co. (IPGP) Shares Bought by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,332 shares of the semiconductor company’s stock after acquiring an additional 3,193 shares during the period. Royal Bank of Canada owned approximately 0.16% of IPG Photonics worth $19,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. Raymond James & Associates increased its position in IPG Photonics by 29.9% in the 4th quarter. Raymond James & Associates now owns 25,175 shares of the semiconductor company’s stock valued at $5,391,000 after buying an additional 5,796 shares in the last quarter. Deutsche Bank AG increased its position in IPG Photonics by 157.7% in the 4th quarter. Deutsche Bank AG now owns 200,599 shares of the semiconductor company’s stock valued at $42,952,000 after buying an additional 122,759 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in IPG Photonics by 3.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,489 shares of the semiconductor company’s stock valued at $1,818,000 after buying an additional 314 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in IPG Photonics by 11.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,556 shares of the semiconductor company’s stock valued at $975,000 after buying an additional 486 shares in the last quarter. Finally, Robecosam AG increased its position in IPG Photonics by 17.2% in the 4th quarter. Robecosam AG now owns 180,950 shares of the semiconductor company’s stock valued at $38,949,000 after buying an additional 26,590 shares in the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 2,000 shares of IPG Photonics stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $245.63, for a total transaction of $491,260.00. Following the completion of the transaction, the insider now owns 7,565,999 shares in the company, valued at approximately $1,858,436,334.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William S. Hurley sold 5,255 shares of IPG Photonics stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $251.42, for a total value of $1,321,212.10. Following the transaction, the director now owns 14,005 shares of the company’s stock, valued at approximately $3,521,137.10. The disclosure for this sale can be found here. Insiders have sold a total of 43,255 shares of company stock valued at $10,528,512 in the last quarter. Company insiders own 33.40% of the company’s stock.

A number of brokerages recently commented on IPGP. BidaskClub lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. ValuEngine lowered IPG Photonics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Benchmark reaffirmed a “buy” rating and issued a $262.00 target price on shares of IPG Photonics in a research report on Monday, May 21st. Stifel Nicolaus began coverage on IPG Photonics in a research report on Thursday, May 10th. They issued a “buy” rating and a $282.00 target price for the company. Finally, Zacks Investment Research raised IPG Photonics from a “hold” rating to a “buy” rating and set a $274.00 target price for the company in a research report on Wednesday, May 23rd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $274.00.

IPG Photonics opened at $222.56 on Tuesday, MarketBeat Ratings reports. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 2.17 and a beta of 1.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.54 and a quick ratio of 7.71. IPG Photonics Co. has a 52-week low of $144.71 and a 52-week high of $264.11.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, May 1st. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.13. The business had revenue of $359.90 million during the quarter, compared to the consensus estimate of $346.35 million. IPG Photonics had a return on equity of 21.59% and a net margin of 25.56%. The company’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. analysts forecast that IPG Photonics Co. will post 8.48 EPS for the current year.

About IPG Photonics

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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