Dorsey Wright & Associates bought a new stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,899 shares of the semiconductor company’s stock, valued at approximately $1,832,000.
Other hedge funds have also made changes to their positions in the company. Elefante Mark B purchased a new stake in IPG Photonics Corporation during the third quarter valued at approximately $201,000. Fulton Bank N.A. purchased a new stake in IPG Photonics Corporation during the third quarter valued at approximately $202,000. Chicago Partners Investment Group LLC purchased a new stake in IPG Photonics Corporation during the second quarter valued at approximately $152,000. Beaumont Financial Partners LLC purchased a new stake in IPG Photonics Corporation during the third quarter valued at approximately $250,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in IPG Photonics Corporation by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock valued at $200,000 after buying an additional 131 shares during the last quarter. 58.14% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Timothy Pv Mammen sold 11,600 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $166.98, for a total transaction of $1,936,968.00. Following the completion of the transaction, the chief financial officer now owns 42,700 shares in the company, valued at $7,130,046. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William S. Hurley sold 8,167 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the transaction, the director now owns 12,672 shares of the company’s stock, valued at approximately $2,096,202.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,267 shares of company stock valued at $5,176,458. 33.80% of the stock is owned by company insiders.
IPG Photonics Corporation (NASDAQ IPGP) traded up $1.16 on Tuesday, hitting $224.69. 406,600 shares of the company’s stock were exchanged, compared to its average volume of 321,816. The company has a market capitalization of $11,984.76, a price-to-earnings ratio of 32.92, a P/E/G ratio of 1.64 and a beta of 1.68. IPG Photonics Corporation has a fifty-two week low of $93.38 and a fifty-two week high of $225.55. The company has a current ratio of 9.02, a quick ratio of 7.46 and a debt-to-equity ratio of 0.02.
IPG Photonics Corporation (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.32. The business had revenue of $392.62 million during the quarter, compared to analyst estimates of $367.27 million. IPG Photonics Corporation had a net margin of 27.85% and a return on equity of 21.17%. The company’s revenue was up 47.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. equities research analysts expect that IPG Photonics Corporation will post 6.95 EPS for the current year.
A number of analysts have commented on the stock. Benchmark Co. reaffirmed a “buy” rating and set a $230.00 target price on shares of IPG Photonics Corporation in a report on Wednesday, November 1st. DA Davidson upped their target price on shares of IPG Photonics Corporation to $235.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Needham & Company LLC upped their target price on shares of IPG Photonics Corporation from $210.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. They noted that the move was a valuation call. Zacks Investment Research raised shares of IPG Photonics Corporation from a “hold” rating to a “strong-buy” rating and set a $240.00 target price for the company in a report on Friday, October 27th. Finally, ValuEngine cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $180.33.
IPG Photonics Corporation Profile
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
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