Canada Pension Plan Investment Board Acquires New Position in IPG Photonics Corporation (IPGP)

Canada Pension Plan Investment Board acquired a new stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 43,300 shares of the semiconductor company’s stock, valued at approximately $8,013,000. Canada Pension Plan Investment Board owned about 0.08% of IPG Photonics Corporation at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Denali Advisors LLC bought a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $145,000. Chicago Partners Investment Group LLC bought a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of IPG Photonics Corporation by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock worth $200,000 after buying an additional 131 shares during the last quarter. Elefante Mark B bought a new position in shares of IPG Photonics Corporation in the 3rd quarter worth about $201,000. Finally, Fulton Bank N.A. bought a new position in shares of IPG Photonics Corporation in the 3rd quarter worth about $202,000. Hedge funds and other institutional investors own 58.14% of the company’s stock.

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In other IPG Photonics Corporation news, SVP Eugene A. Shcherbakov sold 9,500 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the transaction, the senior vice president now owns 16,957 shares of the company’s stock, valued at approximately $3,370,882.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William S. Hurley sold 8,167 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the transaction, the director now directly owns 12,672 shares in the company, valued at approximately $2,096,202.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,267 shares of company stock worth $5,176,458. 33.80% of the stock is owned by corporate insiders.

Shares of IPG Photonics Corporation (IPGP) opened at $223.53 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.46. IPG Photonics Corporation has a twelve month low of $93.38 and a twelve month high of $224.47. The firm has a market cap of $11,984.76, a PE ratio of 32.92, a P/E/G ratio of 1.64 and a beta of 1.68.

IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.32. IPG Photonics Corporation had a net margin of 27.85% and a return on equity of 21.17%. The business had revenue of $392.62 million for the quarter, compared to analysts’ expectations of $367.27 million. During the same quarter last year, the company earned $1.29 EPS. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. analysts expect that IPG Photonics Corporation will post 6.95 earnings per share for the current year.

A number of research firms have recently issued reports on IPGP. DA Davidson raised their price target on shares of IPG Photonics Corporation to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Needham & Company LLC raised their price target on shares of IPG Photonics Corporation from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Benchmark Co. restated a “buy” rating and issued a $230.00 price target on shares of IPG Photonics Corporation in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of IPG Photonics Corporation from a “hold” rating to a “strong-buy” rating and set a $240.00 price target on the stock in a research report on Friday, October 27th. Finally, ValuEngine downgraded shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $180.33.

About IPG Photonics Corporation

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.

Institutional Ownership by Quarter for IPG Photonics Corporation (NASDAQ:IPGP)

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