Advisors Asset Management Inc. boosted its position in shares of IPG Photonics Corp. (NASDAQ:IPGP) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,779 shares of the company’s stock after buying an additional 467 shares during the period. Advisors Asset Management Inc.’s holdings in IPG Photonics Corp. were worth $942,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the stock. LS Investment Advisors LLC increased its stake in shares of IPG Photonics Corp. by 71.1% in the second quarter. LS Investment Advisors LLC now owns 2,212 shares of the company’s stock worth $177,000 after buying an additional 919 shares during the period. PNC Financial Services Group Inc. raised its stake in IPG Photonics Corp. by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,407 shares of the company’s stock worth $193,000 after buying an additional 57 shares during the last quarter. Gardiner Nancy B acquired a new stake in IPG Photonics Corp. during the first quarter worth about $230,000. Virginia Retirement System acquired a new stake in IPG Photonics Corp. during the first quarter worth about $259,000. Finally, Nisa Investment Advisors LLC raised its stake in IPG Photonics Corp. by 6.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the company’s stock worth $264,000 after buying an additional 200 shares during the last quarter. 59.47% of the stock is owned by hedge funds and other institutional investors.
IPG Photonics Corp. (NASDAQ:IPGP) traded up 0.58% during trading on Wednesday, reaching $81.21. 205,144 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $84.75 and a 200-day moving average price of $86.82. IPG Photonics Corp. has a 12 month low of $70.21 and a 12 month high of $102.90. The firm has a market cap of $4.32 billion, a PE ratio of 18.13 and a beta of 2.28.
IPG Photonics Corp. (NASDAQ:IPGP) last released its earnings results on Thursday, July 28th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.06. IPG Photonics Corp. had a net margin of 25.87% and a return on equity of 18.29%. The firm earned $252.80 million during the quarter, compared to analyst estimates of $243.79 million. During the same quarter in the previous year, the business earned $1.15 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts forecast that IPG Photonics Corp. will post $4.62 earnings per share for the current fiscal year.
IPGP has been the subject of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and issued a $90.00 target price on shares of IPG Photonics Corp. in a report on Friday, July 22nd. Summit Redstone restated a “buy” rating on shares of IPG Photonics Corp. in a report on Thursday, July 28th. Needham & Company LLC restated a “buy” rating and issued a $96.00 target price (down previously from $98.00) on shares of IPG Photonics Corp. in a report on Monday, August 1st. Zacks Investment Research upgraded IPG Photonics Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Finally, Credit Agricole SA restated an “outperform” rating and issued a $92.00 target price on shares of IPG Photonics Corp. in a report on Tuesday, September 13th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. IPG Photonics Corp. presently has an average rating of “Buy” and an average target price of $97.00.
In other news, Director Catherine P. Lego purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $83.12 per share, with a total value of $249,360.00. Following the acquisition, the director now directly owns 3,012 shares of the company’s stock, valued at $250,357.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 500 shares of the business’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $85.06, for a total transaction of $42,530.00. Following the completion of the transaction, the insider now directly owns 7,643,999 shares of the company’s stock, valued at approximately $650,198,554.94. The disclosure for this sale can be found here. Company insiders own 34.20% of the company’s stock.
About IPG Photonics Corp.
IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.
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