SRB Corp raised its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,547 shares of the semiconductor company’s stock after acquiring an additional 412 shares during the quarter. SRB Corp’s holdings in IPG Photonics were worth $690,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CSat Investment Advisory L.P. grew its holdings in IPG Photonics by 133.0% during the 4th quarter. CSat Investment Advisory L.P. now owns 508 shares of the semiconductor company’s stock valued at $58,000 after purchasing an additional 290 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in IPG Photonics during the 1st quarter valued at $59,000. ETF Managers Group LLC grew its holdings in IPG Photonics by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 553 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 75 shares in the last quarter. Stephens Inc. AR grew its holdings in IPG Photonics by 89.4% during the 1st quarter. Stephens Inc. AR now owns 498 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 235 shares in the last quarter. Finally, First Hawaiian Bank grew its holdings in IPG Photonics by 68.3% during the 1st quarter. First Hawaiian Bank now owns 673 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 65.84% of the company’s stock.
In other news, insider Igor Samartsev sold 800 shares of IPG Photonics stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $172.10, for a total value of $137,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $162.59, for a total transaction of $1,625,900.00. Following the completion of the transaction, the insider now directly owns 7,555,999 shares of the company’s stock, valued at $1,228,529,877.41. The disclosure for this sale can be found here. Insiders sold a total of 15,825 shares of company stock valued at $2,618,936 over the last ninety days. Company insiders own 33.90% of the company’s stock.
Shares of NASDAQ IPGP traded down $6.21 during midday trading on Friday, hitting $131.10. The company’s stock had a trading volume of 9,594 shares, compared to its average volume of 476,022. IPG Photonics Co. has a 1-year low of $104.64 and a 1-year high of $245.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.55 and a current ratio of 8.54. The firm has a market capitalization of $7.10 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.92 and a beta of 2.07.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.02). IPG Photonics had a net margin of 24.94% and a return on equity of 16.09%. The business had revenue of $315.00 million during the quarter, compared to analyst estimates of $308.75 million. During the same period last year, the firm posted $1.93 earnings per share. The company’s quarterly revenue was down 12.5% on a year-over-year basis. Equities analysts forecast that IPG Photonics Co. will post 5.78 earnings per share for the current year.
Several brokerages have weighed in on IPGP. BidaskClub lowered shares of IPG Photonics from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Zacks Investment Research raised shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. DA Davidson raised their price objective on shares of IPG Photonics to $205.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Canaccord Genuity raised their price objective on shares of IPG Photonics from $138.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Cascend Securities reissued a “buy” rating and set a $200.00 price objective (up from $180.00) on shares of IPG Photonics in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $185.90.
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IPG Photonics Company 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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