US Bancorp DE lessened its stake in shares of IPG Photonics Co. (NASDAQ:IPGP – Get Rating) by 25.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,131 shares of the semiconductor company’s stock after selling 1,070 shares during the quarter. US Bancorp DE’s holdings in IPG Photonics were worth $264,000 at the end of the most recent reporting period.
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Several other hedge funds and other institutional investors have also bought and sold shares of IPGP. JPMorgan Chase & Co. boosted its position in IPG Photonics by 77.4% during the 1st quarter. JPMorgan Chase & Co. now owns 51,443 shares of the semiconductor company’s stock valued at $5,645,000 after acquiring an additional 22,446 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in IPG Photonics by 21.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,364 shares of the semiconductor company’s stock valued at $370,000 after acquiring an additional 592 shares in the last quarter. MetLife Investment Management LLC boosted its position in IPG Photonics by 24.7% during the 1st quarter. MetLife Investment Management LLC now owns 9,842 shares of the semiconductor company’s stock valued at $1,080,000 after acquiring an additional 1,951 shares in the last quarter. Panagora Asset Management Inc. boosted its position in IPG Photonics by 309.6% during the 1st quarter. Panagora Asset Management Inc. now owns 8,876 shares of the semiconductor company’s stock valued at $974,000 after acquiring an additional 6,709 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in IPG Photonics by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,779 shares of the semiconductor company’s stock valued at $525,000 after acquiring an additional 296 shares in the last quarter. Institutional investors own 63.50% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have issued reports on IPGP. DA Davidson reaffirmed a “buy” rating on shares of IPG Photonics in a research report on Tuesday, January 3rd. Benchmark lowered their price objective on IPG Photonics from $165.00 to $130.00 in a research report on Wednesday, November 2nd. Stifel Nicolaus assumed coverage on IPG Photonics in a research report on Wednesday, November 2nd. They issued a “buy” rating and a $110.00 price objective for the company. StockNews.com assumed coverage on IPG Photonics in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Raymond James raised IPG Photonics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, November 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, IPG Photonics currently has an average rating of “Moderate Buy” and a consensus price target of $134.20.
IPG Photonics Price Performance
Shares of IPGP stock opened at $110.34 on Thursday. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 11.27 and a beta of 1.24. The business has a fifty day moving average of $96.84 and a 200 day moving average of $93.98. IPG Photonics Co. has a 1 year low of $79.88 and a 1 year high of $161.97.
IPG Photonics (NASDAQ:IPGP – Get Rating) last issued its earnings results on Tuesday, November 1st. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.30. The company had revenue of $349.01 million during the quarter, compared to analyst estimates of $361.29 million. IPG Photonics had a return on equity of 10.58% and a net margin of 18.34%. As a group, equities research analysts expect that IPG Photonics Co. will post 4.79 earnings per share for the current year.
IPG Photonics Company Profile
IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company’s laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
Further Reading
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