Allianz Asset Management GmbH lifted its position in IPG Photonics Corporation (NASDAQ:IPGP) by 131.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 203,839 shares of the semiconductor company’s stock after buying an additional 115,924 shares during the quarter. Allianz Asset Management GmbH owned about 0.38% of IPG Photonics worth $37,722,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in IPG Photonics by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock worth $200,000 after acquiring an additional 131 shares during the period. Elefante Mark B bought a new position in IPG Photonics during the third quarter worth $201,000. Fulton Bank N.A. bought a new position in IPG Photonics during the third quarter worth $202,000. Cigna Investments Inc. New bought a new position in IPG Photonics during the second quarter worth $213,000. Finally, MML Investors Services LLC bought a new position in IPG Photonics during the second quarter worth $221,000. Institutional investors and hedge funds own 56.44% of the company’s stock.
IPGP has been the topic of a number of research reports. DA Davidson reaffirmed a “buy” rating and set a $220.00 target price on shares of IPG Photonics in a research report on Tuesday, October 10th. BidaskClub lowered shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. ValuEngine lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $170.00 price target (up previously from $165.00) on shares of IPG Photonics in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $180.33.
Shares of IPG Photonics Corporation (IPGP) opened at $207.33 on Friday. IPG Photonics Corporation has a 52 week low of $95.04 and a 52 week high of $248.23. The company has a quick ratio of 7.46, a current ratio of 9.02 and a debt-to-equity ratio of 0.02. The company has a market cap of $10,865.26, a price-to-earnings ratio of 29.84, a PEG ratio of 1.47 and a beta of 1.70.
IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.32. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. The company had revenue of $392.62 million for the quarter, compared to the consensus estimate of $367.27 million. During the same quarter in the previous year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 47.6% compared to the same quarter last year. sell-side analysts expect that IPG Photonics Corporation will post 7.01 earnings per share for the current fiscal year.
In related news, 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 transaction, the senior vice president now owns 16,957 shares in the company, valued at approximately $3,370,882.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Trevor Ness sold 10,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $208.17, for a total transaction of $2,081,700.00. Following the transaction, the senior vice president now owns 22,906 shares in the company, valued at approximately $4,768,342.02. The disclosure for this sale can be found here. 33.80% of the stock is currently owned by insiders.
IPG Photonics Company 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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