Alpine Woods Capital Investors LLC grew its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 20.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the semiconductor company’s stock after acquiring an additional 1,000 shares during the period. Alpine Woods Capital Investors LLC’s holdings in IPG Photonics were worth $1,110,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Chicago Partners Investment Group LLC bought a new position in IPG Photonics in the second quarter valued at $152,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in IPG Photonics by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock valued at $200,000 after acquiring an additional 131 shares during the last quarter. Elefante Mark B bought a new position in IPG Photonics in the third quarter valued at $201,000. Fulton Bank N.A. bought a new position in IPG Photonics in the third quarter valued at $202,000. Finally, Cigna Investments Inc. New bought a new position in IPG Photonics in the second quarter valued at $213,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.
A number of research firms recently commented on IPGP. Zacks Investment Research raised IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $240.00 target price on the stock in a research note on Friday, October 27th. ValuEngine raised IPG Photonics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. DA Davidson raised their target price on IPG Photonics to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Needham & Company LLC raised their target price on IPG Photonics from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of IPG Photonics in a research note on Wednesday, November 1st. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $180.33.
In other news, SVP Eugene A. Shcherbakov sold 9,500 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the sale, the senior vice president now directly owns 16,957 shares in the company, valued at approximately $3,370,882.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Trevor Ness sold 10,000 shares of the company’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 sale, the senior vice president now owns 22,906 shares in the company, valued at $4,768,342.02. The disclosure for this sale can be found here. 33.80% of the stock is currently owned by insiders.
IPG Photonics Corporation (IPGP) traded up $4.68 during trading hours on Thursday, reaching $207.33. 838,558 shares of the company’s stock were exchanged, compared to its average volume of 355,587. 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 Corporation has a fifty-two week low of $95.04 and a fifty-two week high of $248.23. The company has a market cap of $10,882.95, a P/E ratio of 29.89, a PEG ratio of 1.47 and a beta of 1.70.
IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.32. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. The business had revenue of $392.62 million during the quarter, compared to the consensus estimate of $367.27 million. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s revenue was up 47.6% on a year-over-year basis. equities analysts predict that IPG Photonics Corporation will post 7.01 earnings per share for the current year.
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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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