Ellington Management Group LLC trimmed its position in IPG Photonics Co. (NASDAQ:IPGP) by 70.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,100 shares of the semiconductor company’s stock after selling 2,600 shares during the quarter. Ellington Management Group LLC’s holdings in IPG Photonics were worth $236,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in IPGP. Strs Ohio acquired a new stake in shares of IPG Photonics in the 4th quarter valued at $101,000. Wolverine Asset Management LLC purchased a new position in shares of IPG Photonics in the 4th quarter valued at $102,000. MUFG Americas Holdings Corp grew its position in shares of IPG Photonics by 122.5% in the 4th quarter. MUFG Americas Holdings Corp now owns 485 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 267 shares during the last quarter. Bollard Group LLC grew its position in shares of IPG Photonics by 145.5% in the 4th quarter. Bollard Group LLC now owns 491 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 291 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of IPG Photonics in the 4th quarter valued at $128,000. Institutional investors and hedge funds own 57.08% of the company’s stock.
In other IPG Photonics news, insider Igor Samartsev sold 8,000 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Pv Mammen sold 2,500 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $261.53, for a total transaction of $653,825.00. Following the transaction, the chief financial officer now directly owns 33,600 shares in the company, valued at $8,787,408. The disclosure for this sale can be found here. Insiders have sold a total of 60,500 shares of company stock worth $15,095,172 over the last three months. 33.80% of the stock is currently owned by insiders.
IPG Photonics Co. (NASDAQ:IPGP) opened at $247.42 on Tuesday. IPG Photonics Co. has a 52-week low of $116.80 and a 52-week high of $264.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.27 and a current ratio of 8.82. The stock has a market cap of $13,346.46, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 2.46 and a beta of 1.84.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Friday, February 16th. The semiconductor company reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $345.63 million. During the same period last year, the firm posted $1.39 EPS. IPG Photonics’s revenue for the quarter was up 28.9% on a year-over-year basis. equities analysts anticipate that IPG Photonics Co. will post 8.37 earnings per share for the current fiscal year.
A number of research analysts recently commented on the stock. ValuEngine raised shares of IPG Photonics from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $275.00 target price on the stock in a research report on Thursday, February 22nd. DA Davidson increased their target price on shares of IPG Photonics from $1.86 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price (up from $230.00) on shares of IPG Photonics in a research report on Tuesday, February 20th. Finally, Canaccord Genuity increased their target price on shares of IPG Photonics from $210.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, February 20th. Three 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. The company 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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