Los Angeles Capital Management & Equity Research Inc. Invests $489,000 in IPG Photonics Corporation (IPGP) Stock
Los Angeles Capital Management & Equity Research Inc. bought a new stake in IPG Photonics Corporation (NASDAQ:IPGP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,641 shares of the semiconductor company’s stock, valued at approximately $489,000.
A number of other large investors also recently added to or reduced their stakes in IPGP. Chicago Partners Investment Group LLC acquired a new stake in shares of IPG Photonics during the second quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of IPG Photonics by 10.5% during the second 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. Elefante Mark B acquired a new stake in shares of IPG Photonics during the third quarter worth about $201,000. Fulton Bank N.A. acquired a new stake in shares of IPG Photonics during the third quarter worth about $202,000. Finally, Cigna Investments Inc. New acquired a new stake in shares of IPG Photonics during the second quarter worth about $213,000. 59.99% of the stock is currently owned by hedge funds and other institutional investors.
IPG Photonics Corporation (IPGP) opened at $224.13 on Friday. The company has a current ratio of 9.02, a quick ratio of 7.46 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $12,276.96, a PE ratio of 33.72, a P/E/G ratio of 1.66 and a beta of 1.70. IPG Photonics Corporation has a fifty-two week low of $93.38 and a fifty-two week high of $248.23.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.32. The business had revenue of $392.62 million during the quarter, compared to the consensus estimate of $367.27 million. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. IPG Photonics’s quarterly revenue was up 47.6% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. analysts anticipate that IPG Photonics Corporation will post 7.01 EPS for the current year.
A number of research firms have recently commented on IPGP. ValuEngine lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Friday. DA Davidson raised their price target on IPG Photonics 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 IPG Photonics 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 reaffirmed a “buy” rating and set a $230.00 price target on shares of IPG Photonics in a research report on Wednesday, November 1st. Finally, Zacks Investment Research raised IPG Photonics 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. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. IPG Photonics currently has an average rating of “Buy” and an average target price of $180.33.
In related news, SVP Eugene A. Shcherbakov sold 9,500 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the completion of the transaction, the senior vice president now directly owns 16,957 shares in the company, valued at $3,370,882.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 33.80% of the stock is currently owned by company insiders.
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IPG Photonics 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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