Tredje AP fonden boosted its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 57.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,160 shares of the semiconductor company’s stock after acquiring an additional 1,150 shares during the quarter. Tredje AP fonden’s holdings in IPG Photonics were worth $737,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in IPGP. Nisa Investment Advisors LLC boosted its holdings in IPG Photonics by 700.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,000 shares of the semiconductor company’s stock valued at $857,000 after acquiring an additional 3,500 shares during the period. Bank of Montreal Can boosted its holdings in IPG Photonics by 243.5% during the 4th quarter. Bank of Montreal Can now owns 37,529 shares of the semiconductor company’s stock valued at $8,036,000 after acquiring an additional 26,605 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in IPG Photonics by 1.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 142,852 shares of the semiconductor company’s stock valued at $30,589,000 after acquiring an additional 1,653 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in IPG Photonics during the 4th quarter valued at about $128,000. Finally, State of Alaska Department of Revenue purchased a new position in IPG Photonics during the 4th quarter valued at about $556,000. Institutional investors own 57.16% of the company’s stock.
Get IPG Photonics alerts:IPGP stock opened at $246.16 on Thursday. The company has a current ratio of 9.54, a quick ratio of 7.71 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 33.91, a P/E/G ratio of 2.41 and a beta of 1.85. IPG Photonics Co. has a 1 year low of $136.60 and a 1 year high of $264.11.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, May 1st. The semiconductor company reported $1.93 earnings per share (EPS) 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%. IPG Photonics’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 EPS. equities analysts forecast that IPG Photonics Co. will post 8.48 EPS for the current fiscal year.
A number of equities analysts recently commented on the company. BidaskClub upgraded IPG Photonics from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 12th. Needham & Company LLC raised their target price on IPG Photonics from $230.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Sanford C. Bernstein assumed coverage on IPG Photonics in a report on Wednesday, April 18th. They set an “outperform” rating and a $294.00 target price for the company. Zacks Investment Research cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Tuesday, April 24th. Finally, ValuEngine upgraded IPG Photonics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $239.10.
In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 2,000 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $245.63, for a total value of $491,260.00. Following the sale, the insider now owns 7,565,999 shares of the company’s stock, valued at approximately $1,858,436,334.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William S. Hurley sold 3,500 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $255.93, for a total value of $895,755.00. Following the completion of the sale, the director now directly owns 14,505 shares in the company, valued at approximately $3,712,264.65. The disclosure for this sale can be found here. Insiders sold a total of 64,255 shares of company stock worth $15,725,764 in the last ninety days. 33.80% of the stock is owned by corporate insiders.
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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