Oppenheimer & Co. Inc. grew its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 44.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,419 shares of the semiconductor company’s stock after acquiring an additional 2,883 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in IPG Photonics were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of IPGP. FMR LLC boosted its holdings in IPG Photonics by 263.3% during the 2nd quarter. FMR LLC now owns 417,624 shares of the semiconductor company’s stock worth $92,141,000 after acquiring an additional 302,662 shares during the last quarter. Waddell & Reed Financial Inc. purchased a new position in IPG Photonics during the 2nd quarter worth $58,469,000. United Services Automobile Association boosted its holdings in IPG Photonics by 396.1% during the 2nd quarter. United Services Automobile Association now owns 323,519 shares of the semiconductor company’s stock worth $13,847,000 after acquiring an additional 258,306 shares during the last quarter. BlackRock Inc. boosted its holdings in IPG Photonics by 7.5% during the 2nd quarter. BlackRock Inc. now owns 3,073,688 shares of the semiconductor company’s stock worth $678,148,000 after acquiring an additional 215,413 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in IPG Photonics by 47.7% during the 2nd quarter. Janus Henderson Group PLC now owns 593,969 shares of the semiconductor company’s stock worth $131,048,000 after acquiring an additional 191,959 shares during the last quarter. 58.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CAO Thomas J. Burgomaster sold 637 shares of the business’s stock in a transaction dated Sunday, November 11th. The stock was sold at an average price of $90.85, for a total value of $57,871.45. Following the sale, the chief accounting officer now directly owns 6,037 shares in the company, valued at approximately $548,461.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Thomas J. Burgomaster sold 294 shares of the business’s stock in a transaction dated Sunday, December 2nd. The shares were sold at an average price of $93.70, for a total value of $27,547.80. Following the completion of the sale, the chief accounting officer now owns 6,037 shares in the company, valued at $565,666.90. The disclosure for this sale can be found here. Insiders have sold a total of 1,131 shares of company stock worth $103,915 over the last quarter. Company insiders own 33.80% of the company’s stock.
IPGP has been the topic of a number of analyst reports. ValuEngine downgraded shares of IPG Photonics from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. BidaskClub cut IPG Photonics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Raymond James upgraded IPG Photonics from a “market perform” rating to a “strong-buy” rating in a research note on Friday, September 21st. Benchmark lowered their target price on IPG Photonics from $222.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. Finally, DA Davidson lowered their target price on IPG Photonics to $200.00 in a research note on Monday, October 8th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $219.75.
NASDAQ IPGP opened at $145.83 on Friday. The firm has a market cap of $7.18 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.89 and a beta of 1.77. IPG Photonics Co. has a one year low of $107.59 and a one year high of $264.11. The company has a current ratio of 8.64, a quick ratio of 6.94 and a debt-to-equity ratio of 0.02.
IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, October 30th. The semiconductor company reported $1.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.85 by ($0.01). The business had revenue of $356.35 million for the quarter, compared to the consensus estimate of $355.48 million. IPG Photonics had a return on equity of 20.30% and a net margin of 25.58%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.11 earnings per share. As a group, sell-side analysts forecast that IPG Photonics Co. will post 7.44 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.
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