Pictet Asset Management Ltd. Increases Stake in IPG Photonics Corporation (IPGP)
Pictet Asset Management Ltd. raised its position in IPG Photonics Corporation (NASDAQ:IPGP) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 502,335 shares of the semiconductor company’s stock after buying an additional 28,959 shares during the period. Pictet Asset Management Ltd. owned approximately 0.94% of IPG Photonics Corporation worth $69,844,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Huntington National Bank boosted its stake in IPG Photonics Corporation by 3,188.5% in the first quarter. Huntington National Bank now owns 855 shares of the semiconductor company’s stock worth $103,000 after buying an additional 829 shares during the last quarter. Flinton Capital Management LLC boosted its stake in IPG Photonics Corporation by 3.3% in the first quarter. Flinton Capital Management LLC now owns 1,008 shares of the semiconductor company’s stock worth $122,000 after buying an additional 32 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its stake in IPG Photonics Corporation by 13.9% in the first quarter. YorkBridge Wealth Partners LLC now owns 895 shares of the semiconductor company’s stock worth $122,000 after buying an additional 109 shares during the last quarter. Denali Advisors LLC acquired a new stake in IPG Photonics Corporation during the second quarter worth about $145,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in IPG Photonics Corporation during the second quarter worth about $152,000. 60.23% of the stock is owned by institutional investors and hedge funds.
IPG Photonics Corporation (NASDAQ:IPGP) opened at 162.60 on Tuesday. The firm’s 50-day moving average price is $149.09 and its 200-day moving average price is $129.91. The firm has a market cap of $8.70 billion, a P/E ratio of 27.23 and a beta of 1.70. IPG Photonics Corporation has a 52-week low of $80.52 and a 52-week high of $167.00.
IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.28. The firm had revenue of $369.37 million during the quarter, compared to the consensus estimate of $333.06 million. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The company’s quarterly revenue was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. Equities research analysts expect that IPG Photonics Corporation will post $6.62 EPS for the current year.
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A number of research firms recently issued reports on IPGP. Canaccord Genuity cut IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, July 18th. Benchmark Co. reissued a “buy” rating and set a $180.00 target price on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Longbow Research raised IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Tuesday, June 6th. Stifel Nicolaus increased their target price on IPG Photonics Corporation from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Friday, June 30th. Finally, Dougherty & Co increased their target price on IPG Photonics Corporation from $137.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. IPG Photonics Corporation has a consensus rating of “Buy” and an average price target of $141.00.
In other news, SVP Angelo P. Lopresti sold 4,626 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $138.00, for a total transaction of $638,388.00. Following the completion of the sale, the senior vice president now owns 37,765 shares in the company, valued at $5,211,570. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 23,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $135.40, for a total value of $3,222,520.00. Following the sale, the insider now owns 7,614,471 shares of the company’s stock, valued at approximately $1,030,999,373.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,775 shares of company stock valued at $8,227,386. Corporate insiders own 34.20% of the company’s stock.
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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