Sumitomo Mitsui Trust Holdings Inc. increased its position in IPG Photonics Co. (NASDAQ:IPGP) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 142,041 shares of the semiconductor company’s stock after purchasing an additional 2,364 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of IPG Photonics worth $19,261,000 at the end of the most recent quarter.
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Other hedge funds have also recently modified their holdings of the company. TRUE Private Wealth Advisors bought a new position in IPG Photonics in the second quarter worth $38,000. Meeder Asset Management Inc. lifted its holdings in shares of IPG Photonics by 222.1% during the third quarter. Meeder Asset Management Inc. now owns 277 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 191 shares during the period. Griffin Asset Management Inc. bought a new position in shares of IPG Photonics during the second quarter valued at $42,000. Cerebellum GP LLC bought a new position in shares of IPG Photonics during the third quarter valued at $50,000. Finally, Quest Capital Management Inc. ADV bought a new position in shares of IPG Photonics during the third quarter valued at $76,000. 63.85% of the stock is owned by hedge funds and other institutional investors.
In other news, CTO Igor Samartsev sold 800 shares of IPG Photonics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $134.65, for a total transaction of $107,720.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 33.90% of the company’s stock.
Shares of NASDAQ:IPGP traded up $1.69 during midday trading on Friday, reaching $140.85. The company’s stock had a trading volume of 362,800 shares, compared to its average volume of 509,864. IPG Photonics Co. has a fifty-two week low of $104.64 and a fifty-two week high of $182.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.08 and a quick ratio of 7.05. The company has a market capitalization of $7.39 billion, a P/E ratio of 19.09, a P/E/G ratio of 11.29 and a beta of 2.17. The business’s fifty day simple moving average is $136.76 and its 200-day simple moving average is $136.79.
IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.12). IPG Photonics had a net margin of 19.45% and a return on equity of 11.50%. The business had revenue of $329.14 million for the quarter, compared to the consensus estimate of $336.93 million. During the same quarter last year, the firm earned $1.84 EPS. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts forecast that IPG Photonics Co. will post 4.52 earnings per share for the current fiscal year.
A number of brokerages have issued reports on IPGP. ValuEngine raised IPG Photonics from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. DA Davidson cut their price objective on IPG Photonics to $150.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Tuesday, October 29th. Zacks Investment Research raised IPG Photonics from a “sell” rating to a “hold” rating and set a $115.00 price objective for the company in a report on Tuesday, October 1st. Finally, Benchmark reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $161.31.
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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