Legal & General Group Plc lifted its holdings in IPG Photonics Corporation (NASDAQ:IPGP) by 25.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,726 shares of the semiconductor company’s stock after purchasing an additional 5,763 shares during the period. Legal & General Group Plc owned 0.05% of IPG Photonics Corporation worth $4,168,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of IPG Photonics Corporation by 43.2% in the second quarter. SG Americas Securities LLC now owns 14,904 shares of the semiconductor company’s stock worth $2,163,000 after purchasing an additional 4,498 shares during the period. State of Wisconsin Investment Board increased its stake in IPG Photonics Corporation by 21.6% during the second quarter. State of Wisconsin Investment Board now owns 149,370 shares of the semiconductor company’s stock valued at $21,674,000 after acquiring an additional 26,500 shares during the period. Trillium Asset Management LLC increased its stake in IPG Photonics Corporation by 1.6% during the second quarter. Trillium Asset Management LLC now owns 47,100 shares of the semiconductor company’s stock valued at $6,834,000 after acquiring an additional 757 shares during the period. Morris Capital Advisors LLC bought a new position in IPG Photonics Corporation during the second quarter valued at about $4,081,000. Finally, Advisors Asset Management Inc. increased its stake in IPG Photonics Corporation by 35.8% during the second quarter. Advisors Asset Management Inc. now owns 8,970 shares of the semiconductor company’s stock valued at $1,302,000 after acquiring an additional 2,365 shares during the period. Institutional investors and hedge funds own 59.20% of the company’s stock.
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In related news, SVP Trevor Ness sold 5,000 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $145.69, for a total value of $728,450.00. Following the transaction, the senior vice president now owns 17,906 shares in the company, valued at $2,608,725.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Alexander Ovtchinnikov sold 12,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $160.30, for a total transaction of $1,923,600.00. Following the completion of the transaction, the senior vice president now owns 83,595 shares in the company, valued at approximately $13,400,278.50. The disclosure for this sale can be found here. Insiders sold 67,017 shares of company stock worth $10,799,211 in the last 90 days. Company insiders own 33.80% of the company’s stock.
Several equities analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $182.00 price target (up from $160.00) on shares of IPG Photonics Corporation in a research note on Tuesday, August 1st. Benchmark Co. reaffirmed a “buy” rating and set a $180.00 price objective on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Longbow Research raised IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Tuesday, June 6th. Canaccord Genuity lifted their price objective on IPG Photonics Corporation from $152.00 to $162.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, ValuEngine raised IPG Photonics Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. IPG Photonics Corporation currently has an average rating of “Buy” and an average target price of $143.78.
IPG Photonics Corporation (NASDAQ IPGP) opened at 177.99 on Wednesday. The firm has a market capitalization of $9.58 billion, a P/E ratio of 29.80 and a beta of 1.64. IPG Photonics Corporation has a one year low of $80.52 and a one year high of $179.91. The stock has a 50 day moving average price of $165.64 and a 200 day moving average price of $141.08.
IPG Photonics Corporation (NASDAQ:IPGP) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The firm had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same quarter last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 46.1% on a year-over-year basis. On average, equities analysts predict that IPG Photonics Corporation will post $6.62 EPS for the current fiscal year.
IPG Photonics Corporation Company Profile
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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