Morris Capital Advisors LLC Has $3.69 Million Position in IPG Photonics Co. (IPGP)

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Morris Capital Advisors LLC lessened its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,649 shares of the semiconductor company’s stock after selling 387 shares during the period. IPG Photonics makes up about 2.5% of Morris Capital Advisors LLC’s holdings, making the stock its 20th biggest position. Morris Capital Advisors LLC’s holdings in IPG Photonics were worth $3,691,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Sturgeon Ventures LLP increased its holdings in IPG Photonics by 13.4% during the 2nd quarter. Sturgeon Ventures LLP now owns 20,754 shares of the semiconductor company’s stock worth $4,556,000 after acquiring an additional 2,454 shares during the period. Teacher Retirement System of Texas increased its holdings in IPG Photonics by 14.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 33,345 shares of the semiconductor company’s stock worth $7,357,000 after acquiring an additional 4,233 shares during the period. Redwood Investments LLC bought a new stake in IPG Photonics during the 2nd quarter worth approximately $490,000. Janus Henderson Group PLC increased its holdings in IPG Photonics by 47.7% during the 2nd quarter. Janus Henderson Group PLC now owns 593,969 shares of the semiconductor company’s stock worth $131,048,000 after acquiring an additional 191,959 shares during the period. Finally, Rampart Investment Management Company LLC increased its holdings in IPG Photonics by 20,205.1% during the 2nd quarter. Rampart Investment Management Company LLC now owns 7,919 shares of the semiconductor company’s stock worth $1,747,000 after acquiring an additional 7,880 shares during the period. 58.21% of the stock is currently owned by institutional investors and hedge funds.

In other news, CAO Thomas J. Burgomaster sold 294 shares of the company’s stock in a transaction on Sunday, December 2nd. The shares were sold at an average price of $93.70, for a total value of $27,547.80. Following the completion of the sale, the chief accounting officer now owns 6,037 shares of the company’s stock, valued at approximately $565,666.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas J. Burgomaster sold 637 shares of the company’s stock in a transaction on Sunday, November 11th. The shares were sold at an average price of $90.85, for a total transaction of $57,871.45. Following the completion of the sale, the chief accounting officer now directly owns 6,037 shares of the company’s stock, valued at approximately $548,461.45. The disclosure for this sale can be found here. In the last three months, insiders sold 1,131 shares of company stock valued at $103,915. Corporate insiders own 33.80% of the company’s stock.

A number of analysts recently weighed in on IPGP shares. BidaskClub raised shares of IPG Photonics from a “hold” rating to a “buy” rating in a report on Friday, July 20th. ValuEngine lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Needham & Company LLC decreased their target price on shares of IPG Photonics from $280.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. Stifel Nicolaus cut their price target on shares of IPG Photonics from $282.00 to $228.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Finally, DA Davidson cut their price target on shares of IPG Photonics to $220.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $219.75.

IPGP stock opened at $135.85 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.64 and a quick ratio of 6.94. IPG Photonics Co. has a one year low of $107.59 and a one year high of $264.11. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.98 and a beta of 1.80.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $1.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.85 by ($0.01). IPG Photonics had a return on equity of 20.30% and a net margin of 25.58%. The company had revenue of $356.35 million during the quarter, compared to analysts’ expectations of $355.48 million. During the same period in the prior year, the firm earned $2.11 EPS. IPG Photonics’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, equities research analysts forecast that IPG Photonics Co. will post 7.74 earnings per share for the current fiscal year.

About IPG Photonics

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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