Fisher Asset Management LLC boosted its stake in shares of IPG Photonics Co. (NASDAQ:IPGP – Get Rating) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,479 shares of the semiconductor company’s stock after purchasing an additional 11,822 shares during the quarter. Fisher Asset Management LLC owned about 0.38% of IPG Photonics worth $17,749,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IPGP. JPMorgan Chase & Co. boosted its position in IPG Photonics by 77.4% during the first quarter. JPMorgan Chase & Co. now owns 51,443 shares of the semiconductor company’s stock worth $5,645,000 after purchasing an additional 22,446 shares during the period. PNC Financial Services Group Inc. boosted its position in IPG Photonics by 21.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,364 shares of the semiconductor company’s stock worth $370,000 after purchasing an additional 592 shares during the period. MetLife Investment Management LLC boosted its position in IPG Photonics by 24.7% during the first quarter. MetLife Investment Management LLC now owns 9,842 shares of the semiconductor company’s stock worth $1,080,000 after purchasing an additional 1,951 shares during the period. Panagora Asset Management Inc. boosted its position in shares of IPG Photonics by 309.6% in the first 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 during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of IPG Photonics by 6.6% in the first 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 during the period. 63.50% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of the business’s stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $115.60, for a total transaction of $953,700.00. Following the completion of the transaction, the insider now owns 7,369,849 shares of the company’s stock, valued at $851,954,544.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 33,000 shares of company stock valued at $3,925,103. 33.50% of the stock is currently owned by corporate insiders.
IPG Photonics Trading Down 0.6 %
IPG Photonics (NASDAQ:IPGP – Get Rating) last issued its earnings results on Tuesday, February 14th. The semiconductor company reported ($1.91) EPS for the quarter, missing the consensus estimate of $0.91 by ($2.82). The business had revenue of $333.54 million for the quarter, compared to analyst estimates of $315.51 million. IPG Photonics had a return on equity of 4.82% and a net margin of 7.69%. On average, sell-side analysts predict that IPG Photonics Co. will post 4.74 earnings per share for the current year.
Analyst Ratings Changes
IPGP has been the subject of a number of recent research reports. Benchmark boosted their target price on shares of IPG Photonics from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 15th. Sanford C. Bernstein boosted their target price on shares of IPG Photonics from $100.00 to $124.00 and gave the company a “market perform” rating in a research report on Thursday, February 16th. StockNews.com initiated coverage on shares of IPG Photonics in a research report on Thursday, March 16th. They issued a “hold” rating for the company. DA Davidson reissued a “buy” rating on shares of IPG Photonics in a research report on Tuesday, January 3rd. Finally, Stifel Nicolaus upped their price objective on shares of IPG Photonics from $110.00 to $145.00 in a research report on Wednesday, February 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, IPG Photonics presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.80.
IPG Photonics Company Profile
IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.
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