Comerica Bank reduced its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,814 shares of the semiconductor company’s stock after selling 4,563 shares during the quarter. Comerica Bank owned about 0.06% of IPG Photonics worth $7,880,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in IPGP. Strs Ohio acquired a new stake in IPG Photonics during the 4th quarter worth $101,000. Bollard Group LLC raised its stake in IPG Photonics by 145.5% during the 4th quarter. Bollard Group LLC now owns 491 shares of the semiconductor company’s stock worth $105,000 after acquiring an additional 291 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in IPG Photonics during the 4th quarter worth $128,000. Advantage Investment Management LLC raised its stake in IPG Photonics by 366.5% during the 3rd quarter. Advantage Investment Management LLC now owns 933 shares of the semiconductor company’s stock worth $173,000 after acquiring an additional 733 shares in the last quarter. Finally, Elefante Mark B acquired a new stake in IPG Photonics during the 3rd quarter worth $201,000. Hedge funds and other institutional investors own 56.02% of the company’s stock.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of IPG Photonics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Needham & Company LLC lifted their price target on shares of IPG Photonics from $230.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Northcoast Research reiterated a “buy” rating and set a $290.00 price target on shares of IPG Photonics in a research note on Wednesday, January 31st. BidaskClub downgraded shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Finally, ValuEngine downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. IPG Photonics currently has an average rating of “Buy” and a consensus target price of $196.30.
In other news, SVP Trevor Ness sold 10,000 shares of IPG Photonics stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $208.17, for a total value of $2,081,700.00. Following the sale, the senior vice president now owns 22,906 shares of the company’s stock, valued at $4,768,342.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Pv Mammen sold 2,500 shares of IPG Photonics stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $261.53, for a total transaction of $653,825.00. Following the completion of the sale, the chief financial officer now directly owns 33,600 shares in the company, valued at approximately $8,787,408. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,500 shares of company stock worth $11,979,620. Insiders own 33.80% of the company’s stock.
Shares of IPG Photonics Co. (NASDAQ IPGP) traded up $6.61 during trading on Friday, reaching $259.07. 508,700 shares of the company’s stock traded hands, compared to its average volume of 513,162. IPG Photonics Co. has a 52 week low of $116.02 and a 52 week high of $264.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.46. The stock has a market cap of $13,890.00, a P/E ratio of 38.10, a P/E/G ratio of 2.76 and a beta of 1.88.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Friday, February 16th. The semiconductor company reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.14. The company had revenue of $361.10 million for the quarter, compared to the consensus estimate of $345.63 million. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. IPG Photonics’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. sell-side analysts anticipate that IPG Photonics Co. will post 7.13 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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