Fox Run Management L.L.C. acquired a new position in IPG Photonics Co. (NASDAQ:IPGP) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,441 shares of the semiconductor company’s stock, valued at approximately $277,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Ipswich Investment Management Co. Inc. bought a new stake in shares of IPG Photonics in the fourth quarter worth $44,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of IPG Photonics by 205.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 638 shares of the semiconductor company’s stock worth $100,000 after acquiring an additional 429 shares during the period. Centaurus Financial Inc. bought a new stake in shares of IPG Photonics in the second quarter worth $177,000. Elefante Mark B bought a new stake in shares of IPG Photonics in the third quarter worth $217,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of IPG Photonics in the third quarter worth $231,000. 58.57% of the stock is owned by institutional investors.
NASDAQ:IPGP opened at $132.51 on Friday. IPG Photonics Co. has a 52-week low of $104.64 and a 52-week high of $264.08. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 2.00 and a beta of 1.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.64 and a quick ratio of 6.81.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $1.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.01). IPG Photonics had a net margin of 25.58% and a return on equity of 20.30%. The business had revenue of $356.35 million during the quarter, compared to analysts’ expectations of $355.48 million. During the same quarter in the previous year, the firm earned $2.11 earnings per share. IPG Photonics’s revenue was down 9.2% on a year-over-year basis. Equities research analysts predict that IPG Photonics Co. will post 7.41 EPS for the current year.
Several analysts recently commented on IPGP shares. DA Davidson cut their price objective on IPG Photonics to $200.00 in a report on Monday, October 8th. Stifel Nicolaus cut their price target on IPG Photonics from $228.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 8th. Benchmark cut their price target on IPG Photonics from $222.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 8th. Needham & Company LLC reissued a “buy” rating and set a $157.00 price target (down previously from $160.00) on shares of IPG Photonics in a report on Tuesday, December 18th. Finally, TheStreet lowered IPG Photonics from a “b-” rating to a “c+” rating in a report on Friday, December 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $205.67.
In other news, CAO Thomas J. Burgomaster sold 294 shares of the business’s stock in a transaction dated Sunday, December 2nd. The stock was sold at an average price of $93.70, for a total value of $27,547.80. Following the transaction, the chief accounting officer now directly owns 6,037 shares in the company, valued at $565,666.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas J. Burgomaster sold 637 shares of the business’s stock in a transaction dated Sunday, November 11th. The shares were sold at an average price of $90.85, for a total value of $57,871.45. Following the completion of the transaction, the chief accounting officer now owns 6,037 shares in the company, valued at $548,461.45. The disclosure for this sale can be found here. Insiders sold 1,131 shares of company stock worth $103,915 over the last 90 days. Company insiders own 33.40% of the company’s stock.
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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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