BRILLIANCE ASSET MANAGEMENT Ltd Acquires New Holdings in IPG Photonics Corporation (IPGP)
BRILLIANCE ASSET MANAGEMENT Ltd acquired a new position in IPG Photonics Corporation (NASDAQ:IPGP) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 219,344 shares of the semiconductor company’s stock, valued at approximately $31,827,000. IPG Photonics Corporation accounts for 15.9% of BRILLIANCE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 2nd biggest holding. BRILLIANCE ASSET MANAGEMENT Ltd owned 0.41% of IPG Photonics Corporation at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC purchased a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $145,000. Chicago Partners Investment Group LLC purchased a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 purchasing an additional 131 shares during the period. Visionary Asset Management Inc. purchased a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $209,000. Finally, Cigna Investments Inc. New purchased a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $213,000. Institutional investors own 59.08% of the company’s stock.
IPGP has been the topic of a number of research reports. ValuEngine upgraded IPG Photonics Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Stifel Nicolaus restated a “hold” rating and issued a $170.00 price objective (up from $165.00) on shares of IPG Photonics Corporation in a report on Friday, September 1st. Zacks Investment Research downgraded IPG Photonics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity downgraded IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, July 18th. Finally, Benchmark Co. restated a “buy” rating and issued a $180.00 price objective on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $162.25.
In other news, Director William S. Hurley sold 8,167 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the completion of the sale, the director now owns 12,672 shares in the company, valued at approximately $2,096,202.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Alexander Ovtchinnikov sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.30, for a total value of $1,923,600.00. Following the sale, the senior vice president now owns 83,595 shares of the company’s stock, valued at approximately $13,400,278.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,017 shares of company stock valued at $10,647,886. 33.80% of the stock is currently owned by corporate insiders.
Shares of IPG Photonics Corporation (IPGP) traded up 1.26% during midday trading on Friday, hitting $203.37. The company had a trading volume of 76,108 shares. IPG Photonics Corporation has a one year low of $82.12 and a one year high of $204.29. The company’s 50 day moving average is $185.81 and its 200 day moving average is $154.64. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 34.05 and a beta of 1.68.
IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.28. The company 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 firm’s revenue was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. Equities analysts forecast that IPG Photonics Corporation will post $6.64 earnings per share for the current fiscal year.
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.
Want to see what other hedge funds are holding IPGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IPG Photonics Corporation (NASDAQ:IPGP).
Receive News & Ratings for IPG Photonics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics Corporation and related companies with MarketBeat.com's FREE daily email newsletter.