Emerald Advisers Inc. PA cut its position in shares of IPG Photonics Corp. (NASDAQ:IPGP) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 185,191 shares of the company’s stock after selling 5,448 shares during the period. Emerald Advisers Inc. PA’s holdings in IPG Photonics Corp. were worth $14,815,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in IPGP. Canada Pension Plan Investment Board purchased a new stake in shares of IPG Photonics Corp. during the first quarter worth about $581,000. Credit Agricole S A raised its stake in shares of IPG Photonics Corp. by 490.9% in the first quarter. Credit Agricole S A now owns 39,000 shares of the company’s stock worth $3,747,000 after buying an additional 32,400 shares during the last quarter. Motley Fool Wealth Management LLC raised its stake in shares of IPG Photonics Corp. by 3.8% in the first quarter. Motley Fool Wealth Management LLC now owns 161,053 shares of the company’s stock worth $15,474,000 after buying an additional 5,902 shares during the last quarter. Royce & Associates LP raised its stake in shares of IPG Photonics Corp. by 135.1% in the first quarter. Royce & Associates LP now owns 850,914 shares of the company’s stock worth $81,756,000 after buying an additional 489,030 shares during the last quarter. Finally, Provident Investment Management Inc. raised its stake in shares of IPG Photonics Corp. by 2.2% in the first quarter. Provident Investment Management Inc. now owns 224,769 shares of the company’s stock worth $21,596,000 after buying an additional 4,750 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 1.94% during trading on Wednesday, hitting $83.38. The stock had a trading volume of 200,804 shares. The stock’s 50 day moving average price is $84.08 and its 200-day moving average price is $86.22. The stock has a market cap of $4.43 billion, a P/E ratio of 18.61 and a beta of 2.18. IPG Photonics Corp. has a one year low of $70.21 and a one year high of $102.90.
IPG Photonics Corp. (NASDAQ:IPGP) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.06. The business earned $252.80 million during the quarter, compared to the consensus estimate of $243.79 million. IPG Photonics Corp. had a net margin of 25.87% and a return on equity of 18.29%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 EPS. Analysts expect that IPG Photonics Corp. will post $4.62 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on IPGP. Canaccord Genuity set a $100.00 price target on IPG Photonics Corp. and gave the company a “buy” rating in a report on Thursday, August 11th. Summit Redstone reiterated a “buy” rating on shares of IPG Photonics Corp. in a report on Thursday, July 28th. Needham & Company LLC reiterated a “buy” rating and issued a $96.00 price target (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 set a $92.00 target price on shares of IPG Photonics Corp. in a report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $94.83.
In related news, Director Catherine P. Lego bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $83.12 per share, for a total transaction of $249,360.00. Following the acquisition, the director now owns 3,012 shares of the company’s stock, valued at $250,357.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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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