Advisors Asset Management Inc. Has $1.13 Million Position in IPG Photonics Corporation (IPGP)
Advisors Asset Management Inc. reduced its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 32.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,092 shares of the semiconductor company’s stock after selling 2,878 shares during the quarter. Advisors Asset Management Inc.’s holdings in IPG Photonics were worth $1,127,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Chicago Partners Investment Group LLC purchased a new stake in shares of IPG Photonics during the 2nd quarter valued at about $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of IPG Photonics by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock valued at $200,000 after buying an additional 131 shares during the period. Elefante Mark B purchased a new stake in shares of IPG Photonics during the 3rd quarter valued at about $201,000. Fulton Bank N.A. purchased a new stake in shares of IPG Photonics during the 3rd quarter valued at about $202,000. Finally, Cigna Investments Inc. New purchased a new stake in IPG Photonics during the 2nd quarter worth approximately $213,000. Institutional investors and hedge funds own 59.99% of the company’s stock.
In other news, SVP Eugene A. Shcherbakov sold 9,500 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $198.79, for a total value of $1,888,505.00. Following the completion of the sale, the senior vice president now directly owns 16,957 shares in the company, valued at approximately $3,370,882.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 33.80% of the stock is currently owned by insiders.
IPG Photonics Corporation (NASDAQ IPGP) traded up $0.85 during mid-day trading on Friday, reaching $228.98. The company’s stock had a trading volume of 2,872,200 shares, compared to its average volume of 344,049. The company has a quick ratio of 7.46, a current ratio of 9.02 and a debt-to-equity ratio of 0.02. IPG Photonics Corporation has a 52 week low of $93.38 and a 52 week high of $248.23. The stock has a market cap of $12,944.48, a P/E ratio of 35.56, a PEG ratio of 1.75 and a beta of 1.68.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.32. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. The business had revenue of $392.62 million during the quarter, compared to the consensus estimate of $367.27 million. During the same period in the previous year, the business earned $1.29 EPS. The business’s quarterly revenue was up 47.6% on a year-over-year basis. equities research analysts anticipate that IPG Photonics Corporation will post 7.01 EPS for the current fiscal year.
IPGP has been the topic of several analyst reports. Zacks Investment Research downgraded IPG Photonics from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine upgraded IPG Photonics from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of IPG Photonics in a report on Wednesday, November 1st. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective (up from $182.00) on shares of IPG Photonics in a report on Friday, October 20th. Finally, Stifel Nicolaus restated a “hold” rating and set a $170.00 price objective (up from $165.00) on shares of IPG Photonics in a report on Friday, September 1st. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $180.33.
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IPG Photonics 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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