Xact Kapitalforvaltning AB boosted its stake in IPG Photonics Co. (NASDAQ:IPGP) by 7.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,764 shares of the semiconductor company’s stock after acquiring an additional 455 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in IPG Photonics were worth $1,579,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC acquired a new stake in IPG Photonics in the 4th quarter valued at $102,000. Tiverton Asset Management LLC acquired a new stake in IPG Photonics in the 1st quarter valued at $171,000. C M Bidwell & Associates Ltd. grew its stake in IPG Photonics by 41.7% in the 1st quarter. C M Bidwell & Associates Ltd. now owns 850 shares of the semiconductor company’s stock valued at $198,000 after acquiring an additional 250 shares during the period. King Luther Capital Management Corp acquired a new stake in IPG Photonics in the 4th quarter valued at $203,000. Finally, Evergreen Capital Management LLC acquired a new stake in IPG Photonics in the 1st quarter valued at $234,000. 57.51% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director William S. Hurley sold 5,255 shares of IPG Photonics stock in a transaction on Friday, May 11th. The stock was sold at an average price of $251.42, for a total transaction of $1,321,212.10. Following the transaction, the director now owns 14,005 shares in the company, valued at approximately $3,521,137.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Trevor Ness sold 6,000 shares of IPG Photonics stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $250.44, for a total value of $1,502,640.00. The disclosure for this sale can be found here. Insiders sold a total of 43,255 shares of company stock worth $10,528,512 in the last 90 days. 33.80% of the stock is currently owned by insiders.
Shares of IPG Photonics opened at $215.19 on Thursday, Marketbeat reports. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.71 and a current ratio of 9.54. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.18 and a beta of 1.91. IPG Photonics Co. has a fifty-two week low of $142.58 and a fifty-two week high of $264.11.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, May 1st. The semiconductor company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.13. The company had revenue of $359.90 million for the quarter, compared to analyst estimates of $346.35 million. IPG Photonics had a return on equity of 21.59% and a net margin of 25.56%. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. sell-side analysts expect that IPG Photonics Co. will post 8.48 EPS for the current year.
A number of research firms recently issued reports on IPGP. BidaskClub raised shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 12th. Sanford C. Bernstein began coverage on IPG Photonics in a report on Wednesday, April 18th. They issued an “outperform” rating and a $294.00 price objective on the stock. Zacks Investment Research lowered IPG Photonics from a “buy” rating to a “hold” rating in a report on Tuesday, April 24th. ValuEngine upgraded IPG Photonics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, Benchmark restated a “buy” rating and issued a $262.00 price objective on shares of IPG Photonics in a report on Monday, May 21st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. IPG Photonics has an average rating of “Buy” and an average target price of $274.00.
IPG Photonics Profile
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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