Mackenzie Financial Corp lifted its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,880 shares of the semiconductor company’s stock after buying an additional 1,504 shares during the quarter. Mackenzie Financial Corp owned approximately 0.07% of IPG Photonics worth $7,897,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of IPGP. Harding Loevner LP grew its holdings in shares of IPG Photonics by 86.6% during the third quarter. Harding Loevner LP now owns 2,825,425 shares of the semiconductor company’s stock worth $167,055,000 after buying an additional 1,311,384 shares in the last quarter. BlackRock Inc. grew its holdings in IPG Photonics by 20.1% in the fourth quarter. BlackRock Inc. now owns 3,874,614 shares of the semiconductor company’s stock valued at $829,672,000 after purchasing an additional 648,145 shares during the period. Carillon Tower Advisers Inc. purchased a new stake in IPG Photonics in the fourth quarter valued at approximately $134,367,000. Jackson Square Partners LLC purchased a new stake in IPG Photonics in the third quarter valued at approximately $85,354,000. Finally, BRILLIANCE ASSET MANAGEMENT Ltd grew its holdings in IPG Photonics by 142.5% in the third quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 531,811 shares of the semiconductor company’s stock valued at $98,417,000 after purchasing an additional 312,467 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.
In other news, insider Igor Samartsev sold 8,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $221.59, for a total transaction of $1,772,720.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Pv Mammen sold 12,500 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $243.41, for a total transaction of $3,042,625.00. Following the transaction, the chief financial officer now directly owns 38,040 shares in the company, valued at $9,259,316.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,000 shares of company stock valued at $14,199,417. 33.80% of the stock is owned by insiders.
IPG Photonics Co. (NASDAQ IPGP) traded down $2.27 on Wednesday, reaching $253.28. 599,640 shares of the company’s stock traded hands, compared to its average volume of 699,143. The company has a current ratio of 8.82, a quick ratio of 7.27 and a debt-to-equity ratio of 0.02. IPG Photonics Co. has a 12 month low of $116.80 and a 12 month high of $264.11. The stock has a market capitalization of $13,700.00, a P/E ratio of 34.89, a P/E/G ratio of 2.54 and a beta of 1.84.
IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Friday, February 16th. The semiconductor company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.14. IPG Photonics had a net margin of 24.67% and a return on equity of 21.29%. The company had revenue of $361.10 million during the quarter, compared to the consensus estimate of $345.63 million. During the same period in the previous year, the firm earned $1.39 earnings per share. IPG Photonics’s revenue for the quarter was up 28.9% on a year-over-year basis. equities research analysts anticipate that IPG Photonics Co. will post 8.37 EPS for the current year.
IPGP has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. ValuEngine upgraded shares of IPG Photonics from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Benchmark restated a “buy” rating and issued a $255.00 target price (up from $230.00) on shares of IPG Photonics in a report on Tuesday, February 20th. Zacks Investment Research upgraded shares of IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $275.00 target price for the company in a report on Thursday, February 22nd. Finally, Canaccord Genuity boosted their target price on shares of IPG Photonics from $210.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, February 20th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $213.60.
About IPG Photonics
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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