Hartford Investment Management Co. cut its position in IPG Photonics Co. (NASDAQ:IPGP) by 19.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,791 shares of the semiconductor company’s stock after selling 930 shares during the period. Hartford Investment Management Co.’s holdings in IPG Photonics were worth $575,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Malaga Cove Capital LLC raised its holdings in shares of IPG Photonics by 1.7% during the first quarter. Malaga Cove Capital LLC now owns 5,730 shares of the semiconductor company’s stock worth $870,000 after acquiring an additional 97 shares during the period. Page Arthur B raised its holdings in shares of IPG Photonics by 49.4% during the fourth quarter. Page Arthur B now owns 3,778 shares of the semiconductor company’s stock worth $428,000 after acquiring an additional 1,250 shares during the period. Fundsmith LLP acquired a new stake in shares of IPG Photonics during the fourth quarter worth $19,159,000. State of Alaska Department of Revenue raised its holdings in shares of IPG Photonics by 11.2% during the fourth quarter. State of Alaska Department of Revenue now owns 10,307 shares of the semiconductor company’s stock worth $1,166,000 after acquiring an additional 1,041 shares during the period. Finally, First Hawaiian Bank raised its holdings in shares of IPG Photonics by 68.3% during the first quarter. First Hawaiian Bank now owns 673 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 273 shares during the period. Institutional investors own 65.85% of the company’s stock.
In other news, insider Igor Samartsev sold 800 shares of IPG Photonics stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $172.10, for a total value of $137,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $162.59, for a total transaction of $1,625,900.00. Following the completion of the transaction, the insider now directly owns 7,555,999 shares of the company’s stock, valued at approximately $1,228,529,877.41. The disclosure for this sale can be found here. In the last three months, insiders sold 15,825 shares of company stock valued at $2,618,936. Insiders own 33.90% of the company’s stock.
IPGP has been the topic of a number of research analyst reports. Northcoast Research restated a “hold” rating on shares of IPG Photonics in a report on Tuesday, January 29th. Cascend Securities initiated coverage on shares of IPG Photonics in a report on Monday, February 11th. They set a “buy” rating and a $160.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $170.00 price objective (up from $157.00) on shares of IPG Photonics in a report on Wednesday, February 13th. Canaccord Genuity dropped their price objective on shares of IPG Photonics from $150.00 to $138.00 and set a “hold” rating on the stock in a report on Wednesday, February 13th. Finally, DA Davidson dropped their price objective on shares of IPG Photonics to $175.00 and set a “buy” rating on the stock in a report on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $185.90.
IPG Photonics stock traded down $0.14 during mid-day trading on Wednesday, reaching $129.51. The company’s stock had a trading volume of 570,695 shares, compared to its average volume of 487,274. The company has a market cap of $6.96 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 2.87 and a beta of 1.87. IPG Photonics Co. has a 12 month low of $104.64 and a 12 month high of $261.77. The company has a current ratio of 8.54, a quick ratio of 6.55 and a debt-to-equity ratio of 0.02.
IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). The business had revenue of $315.00 million during the quarter, compared to the consensus estimate of $308.75 million. IPG Photonics had a net margin of 24.94% and a return on equity of 16.09%. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period last year, the business posted $1.93 EPS. On average, equities research analysts forecast that IPG Photonics Co. will post 5.78 EPS for the current year.
IPG Photonics Company Profile
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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