Advisory Services Network LLC lifted its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 30.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,026 shares of the semiconductor company’s stock after acquiring an additional 468 shares during the period. Advisory Services Network LLC’s holdings in IPG Photonics were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in IPGP. Psagot Investment House Ltd. bought a new stake in shares of IPG Photonics during the second quarter valued at approximately $124,000. NumerixS Investment Technologies Inc purchased a new stake in IPG Photonics in the second quarter worth approximately $128,000. Signet Financial Management LLC boosted its holdings in IPG Photonics by 556.7% in the second quarter. Signet Financial Management LLC now owns 683 shares of the semiconductor company’s stock worth $151,000 after purchasing an additional 579 shares during the last quarter. Pendal Group Ltd purchased a new stake in IPG Photonics in the second quarter worth approximately $162,000. Finally, Centaurus Financial Inc. purchased a new stake in IPG Photonics in the second quarter worth approximately $177,000. 58.04% of the stock is owned by institutional investors.
Several brokerages recently issued reports on IPGP. Stifel Nicolaus dropped their target price on shares of IPG Photonics from $282.00 to $228.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. DA Davidson dropped their target price on shares of IPG Photonics to $180.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Needham & Company LLC dropped their target price on shares of IPG Photonics from $280.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. BidaskClub upgraded shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. Finally, Benchmark dropped their target price on shares of IPG Photonics from $170.00 to $162.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $219.75.
In other news, CAO Thomas J. Burgomaster sold 637 shares of IPG Photonics stock in a transaction on Sunday, November 11th. The shares were sold at an average price of $90.85, for a total transaction of $57,871.45. Following the transaction, the chief accounting officer now owns 6,037 shares in the company, valued at approximately $548,461.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Thomas J. Burgomaster sold 294 shares of IPG Photonics stock in a transaction on Sunday, December 2nd. The stock was sold at an average price of $93.70, for a total transaction of $27,547.80. Following the transaction, the chief accounting officer now owns 6,037 shares in the company, valued at approximately $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 in the last quarter. Corporate insiders own 33.80% of the company’s stock.
Shares of IPG Photonics stock opened at $137.79 on Friday. The firm has a market cap of $7.64 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.09 and a beta of 1.77. IPG Photonics Co. has a 1-year low of $107.59 and a 1-year high of $264.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.81 and a current ratio of 8.64.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.01). The business had revenue of $356.35 million for the quarter, compared to analysts’ expectations 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 was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 EPS. As a group, equities analysts expect that IPG Photonics Co. will post 7.41 EPS for the current fiscal year.
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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.
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