Caisse DE Depot ET Placement DU Quebec raised its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 105.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,700 shares of the semiconductor company’s stock after acquiring an additional 1,900 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in IPG Photonics were worth $816,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of IPGP. Guggenheim Capital LLC raised its holdings in IPG Photonics by 276.2% in the 1st quarter. Guggenheim Capital LLC now owns 461,192 shares of the semiconductor company’s stock valued at $107,634,000 after acquiring an additional 338,606 shares during the last quarter. FMR LLC raised its holdings in IPG Photonics by 263.3% in the 2nd quarter. FMR LLC now owns 417,624 shares of the semiconductor company’s stock valued at $92,141,000 after acquiring an additional 302,662 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd acquired a new position in IPG Photonics in the 1st quarter valued at $64,250,000. United Services Automobile Association raised its holdings in IPG Photonics by 396.1% in the 2nd quarter. United Services Automobile Association now owns 323,519 shares of the semiconductor company’s stock valued at $13,847,000 after acquiring an additional 258,306 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in IPG Photonics by 7.5% in the 2nd quarter. BlackRock Inc. now owns 3,073,688 shares of the semiconductor company’s stock valued at $678,148,000 after acquiring an additional 215,413 shares during the last quarter. Institutional investors own 58.36% of the company’s stock.
Several research analysts have weighed in on IPGP shares. Benchmark reiterated a “buy” rating and issued a $262.00 price target on shares of IPG Photonics in a report on Monday, May 21st. Zacks Investment Research raised shares of IPG Photonics from a “hold” rating to a “buy” rating and set a $274.00 price objective for the company in a research note on Wednesday, May 23rd. BidaskClub cut shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 12th. ValuEngine cut shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Finally, Needham & Company LLC lowered their price objective on shares of IPG Photonics from $280.00 to $215.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $242.00.
Shares of NASDAQ IPGP opened at $157.56 on Tuesday. IPG Photonics Co. has a 52-week low of $153.37 and a 52-week high of $264.11. The firm has a market cap of $8.46 billion, a PE ratio of 21.70, a P/E/G ratio of 1.64 and a beta of 1.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.73 and a quick ratio of 6.94.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, July 31st. The semiconductor company reported $2.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by ($0.01). IPG Photonics had a net margin of 25.96% and a return on equity of 21.55%. The company had revenue of $413.61 million for the quarter, compared to analysts’ expectations of $418.61 million. During the same period in the prior year, the firm earned $1.91 earnings per share. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. sell-side analysts expect that IPG Photonics Co. will post 8.02 EPS for the current fiscal year.
IPG Photonics Profile
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.
Recommended Story: What is the NASDAQ Stock Market?
Want to see what other hedge funds are holding IPGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IPG Photonics Co. (NASDAQ:IPGP).
Receive News & Ratings for IPG Photonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics and related companies with MarketBeat.com's FREE daily email newsletter.