Johnson Investment Counsel Inc. raised its position in IPG Photonics Co. (NASDAQ:IPGP) by 19.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 11,602 shares of the semiconductor company’s stock after buying an additional 1,875 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in IPG Photonics were worth $2,445,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in IPG Photonics in the 2nd quarter valued at approximately $69,000. Berman Capital Advisors LLC increased its position in shares of IPG Photonics by 82.2% during the 2nd quarter. Berman Capital Advisors LLC now owns 133 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. Eaton Vance Management acquired a new position in shares of IPG Photonics during the 1st quarter worth approximately $28,000. Eagle Bay Advisors LLC acquired a new position in shares of IPG Photonics during the 2nd quarter worth approximately $49,000. Finally, Advisory Services Network LLC acquired a new position in shares of IPG Photonics during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.
In related news, SVP Igor Samartsev sold 500 shares of the company’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $159.27, for a total transaction of $79,635.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Trevor Ness sold 2,600 shares of the company’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $220.07, for a total value of $572,182.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,900 shares of company stock valued at $1,047,925. Corporate insiders own 32.90% of the company’s stock.
IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, August 3rd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.10). The firm had revenue of $371.66 million during the quarter, compared to the consensus estimate of $380.88 million. IPG Photonics had a net margin of 16.24% and a return on equity of 10.32%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. Equities analysts anticipate that IPG Photonics Co. will post 5.31 earnings per share for the current fiscal year.
Several research analysts have weighed in on the company. Canaccord Genuity lowered their price target on IPG Photonics from $240.00 to $192.00 and set a “hold” rating on the stock in a research report on Monday, August 9th. Benchmark boosted their target price on IPG Photonics from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, June 30th. Needham & Company LLC reissued a “buy” rating and set a $205.00 target price on shares of IPG Photonics in a report on Wednesday, August 25th. DA Davidson decreased their target price on IPG Photonics from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. Finally, Bank of America lowered IPG Photonics from a “buy” rating to a “neutral” rating and set a $178.00 target price on the stock. in a report on Monday. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $214.96.
IPG Photonics Profile
IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.
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