Eagle Ridge Investment Management lifted its position in IPG Photonics Corporation (NASDAQ:IPGP) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,271 shares of the semiconductor company’s stock after acquiring an additional 1,705 shares during the quarter. IPG Photonics Corporation accounts for 1.7% of Eagle Ridge Investment Management’s portfolio, making the stock its 18th largest position. Eagle Ridge Investment Management owned about 0.10% of IPG Photonics Corporation worth $10,043,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in IPG Photonics Corporation during the 2nd quarter valued at about $352,000. Prudential PLC increased its position in IPG Photonics Corporation by 12.3% during the 2nd quarter. Prudential PLC now owns 43,000 shares of the semiconductor company’s stock valued at $6,239,000 after purchasing an additional 4,700 shares during the period. Morgan Stanley increased its position in IPG Photonics Corporation by 31.8% during the 1st quarter. Morgan Stanley now owns 247,448 shares of the semiconductor company’s stock valued at $29,867,000 after purchasing an additional 59,731 shares during the period. Eagle Asset Management Inc. increased its position in IPG Photonics Corporation by 5.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock valued at $110,233,000 after purchasing an additional 37,918 shares during the period. Finally, Legal & General Group Plc increased its position in IPG Photonics Corporation by 131.0% during the 1st quarter. Legal & General Group Plc now owns 22,963 shares of the semiconductor company’s stock valued at $2,772,000 after purchasing an additional 13,023 shares during the period. 58.14% of the stock is currently owned by institutional investors.
In other IPG Photonics Corporation news, Director William S. Hurley sold 8,167 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $165.42, for a total value of $1,350,985.14. Following the transaction, the director now owns 12,672 shares of the company’s stock, valued at $2,096,202.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the completion of the transaction, the senior vice president now directly owns 16,957 shares in the company, valued at approximately $3,370,882.03. The disclosure for this sale can be found here. Insiders have sold 29,267 shares of company stock valued at $5,176,458 in the last ninety days. Insiders own 33.80% of the company’s stock.
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IPG Photonics Corporation (NASDAQ IPGP) traded up $1.16 during trading hours on Tuesday, hitting $224.69. 406,600 shares of the stock traded hands, compared to its average volume of 321,816. The stock has a market cap of $11,984.76, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 1.64 and a beta of 1.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.46 and a current ratio of 9.02. IPG Photonics Corporation has a 52-week low of $93.38 and a 52-week high of $225.55.
IPG Photonics Corporation (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.79 by $0.32. IPG Photonics Corporation had a net margin of 27.85% and a return on equity of 21.17%. The company had revenue of $392.62 million during the quarter, compared to analyst estimates of $367.27 million. During the same quarter in the previous year, the firm earned $1.29 EPS. The firm’s revenue was up 47.6% compared to the same quarter last year. equities research analysts forecast that IPG Photonics Corporation will post 6.95 EPS for the current year.
A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine upgraded shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $170.00 target price (up from $165.00) on shares of IPG Photonics Corporation in a research note on Friday, September 1st. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price (up from $182.00) on shares of IPG Photonics Corporation in a research note on Friday, October 20th. Finally, DA Davidson reiterated a “buy” rating and issued a $220.00 target price on shares of IPG Photonics Corporation in a research note on Tuesday, October 10th. Four 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’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $180.33.
About IPG Photonics Corporation
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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