IBM Retirement Fund boosted its stake in IPG Photonics Corp. (NASDAQ:IPGP) by 2.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,568 shares of the company’s stock after buying an additional 84 shares during the period. IBM Retirement Fund’s holdings in IPG Photonics Corp. were worth $285,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services Inc boosted its stake in IPG Photonics Corp. by 17.0% in the first quarter. Commonwealth Equity Services Inc now owns 3,555 shares of the company’s stock valued at $342,000 after buying an additional 517 shares during the last quarter. Aperio Group LLC boosted its stake in IPG Photonics Corp. by 25.8% in the first quarter. Aperio Group LLC now owns 5,405 shares of the company’s stock valued at $519,000 after buying an additional 1,107 shares during the last quarter. Nisa Investment Advisors L.L.C. purchased a new stake in IPG Photonics Corp. during the first quarter valued at about $298,000. Virginia Retirement System purchased a new stake in IPG Photonics Corp. during the first quarter valued at about $259,000. Finally, Ngam Advisors L.P. boosted its stake in IPG Photonics Corp. by 29.4% in the first quarter. Ngam Advisors L.P. now owns 41,583 shares of the company’s stock valued at $3,996,000 after buying an additional 9,442 shares during the last quarter. Hedge funds and other institutional investors own 59.47% of the company’s stock.
Shares of IPG Photonics Corp. (NASDAQ:IPGP) traded up 1.04% on Friday, hitting $82.35. 144,776 shares of the company were exchanged. The company has a 50-day moving average price of $84.28 and a 200 day moving average price of $86.44. The firm has a market cap of $4.38 billion, a P/E ratio of 18.38 and a beta of 2.28. IPG Photonics Corp. has a 52-week low of $70.21 and a 52-week high of $102.90.
IPG Photonics Corp. (NASDAQ:IPGP) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.25 EPS for the quarter, topping the consensus estimate 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 business had revenue of $252.80 million for the quarter, compared to analyst estimates of $243.79 million. During the same period in the previous year, the firm earned $1.15 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts predict that IPG Photonics Corp. will post $4.62 EPS for the current fiscal year.
Several equities research analysts recently issued reports on IPGP shares. Zacks Investment Research upgraded shares of IPG Photonics Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 24th. Canaccord Genuity upgraded shares of IPG Photonics Corp. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $90.00 in a research report on Wednesday, June 29th. They noted that the move was a valuation call. Needham & Company LLC reiterated a “buy” rating and set a $96.00 price target (down from $98.00) on shares of IPG Photonics Corp. in a research report on Monday, August 1st. Summit Redstone reiterated a “buy” rating on shares of IPG Photonics Corp. in a research report on Thursday, July 28th. Finally, Credit Agricole SA reiterated an “outperform” rating and set a $92.00 price target on shares of IPG Photonics Corp. in a research report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $94.83.
In other IPG Photonics Corp. news, Director Catherine P. Lego acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average cost of $83.12 per share, for a total transaction of $249,360.00. Following the transaction, the director now directly owns 3,012 shares of the company’s stock, valued at $250,357.44. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 34.20% of the stock is currently owned by corporate insiders.
IPG Photonics Corp. Company Profile
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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