Broderick Brian C cut its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,375 shares of the semiconductor company’s stock after selling 865 shares during the quarter. Broderick Brian C’s holdings in IPG Photonics Corporation were worth $3,215,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Denali Advisors LLC purchased a new position in IPG Photonics Corporation in the second quarter worth $145,000. Fulton Bank N.A. acquired a new stake in shares of IPG Photonics Corporation during the third quarter valued at $202,000. Chicago Partners Investment Group LLC acquired a new stake in shares of IPG Photonics Corporation during the second quarter valued at $152,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 acquiring an additional 131 shares during the last quarter. Finally, Visionary Asset Management Inc. acquired a new stake in shares of IPG Photonics Corporation during the second quarter valued at $209,000. 58.14% of the stock is owned by institutional investors and hedge funds.
IPG Photonics Corporation (IPGP) opened at $226.27 on Wednesday. IPG Photonics Corporation has a 12-month low of $93.38 and a 12-month high of $229.65. The company has a market capitalization of $11,984.76, a P/E ratio of 32.92, a PEG ratio of 1.64 and a beta of 1.68. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.46.
IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.32. IPG Photonics Corporation had a return on equity of 21.17% and a net margin of 27.85%. The business 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 posted $1.29 EPS. The business’s revenue for the quarter was up 47.6% compared to the same quarter last year. research analysts expect that IPG Photonics Corporation will post 6.95 earnings per share for the current year.
In other news, SVP Eugene A. Shcherbakov sold 9,500 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the sale, the senior vice president now directly owns 16,957 shares of the company’s stock, valued at $3,370,882.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Pv Mammen sold 11,600 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $166.98, for a total value of $1,936,968.00. Following the sale, the chief financial officer now directly owns 42,700 shares in the company, valued at $7,130,046. The disclosure for this sale can be found here. Insiders sold a total of 29,267 shares of company stock worth $5,176,458 in the last three months. Company insiders own 33.80% of the company’s stock.
A number of analysts have issued reports on IPGP shares. Canaccord Genuity lowered IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, July 18th. Benchmark Co. reissued a “buy” rating and issued a $180.00 price target on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research lowered IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “hold” rating and issued a $170.00 price objective (up from $165.00) on shares of IPG Photonics Corporation in a report on Friday, September 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $182.00 price objective (up from $160.00) on shares of IPG Photonics Corporation in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $180.33.
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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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