Bank of Montreal Can purchased a new position in shares of IPG Photonics Co. (NASDAQ:IPGP – Free Report) in the second quarter, Holdings Channel.com reports. The firm purchased 22,231 shares of the semiconductor company’s stock, valued at approximately $3,023,000.
A number of other institutional investors also recently bought and sold shares of IPGP. Point72 Middle East FZE purchased a new stake in IPG Photonics during the 4th quarter worth about $28,000. AM Squared Ltd purchased a new stake in shares of IPG Photonics in the 2nd quarter valued at about $54,000. BOKF NA purchased a new stake in shares of IPG Photonics in the 1st quarter valued at about $68,000. HM Payson & Co. lifted its holdings in shares of IPG Photonics by 725.0% in the 2nd quarter. HM Payson & Co. now owns 825 shares of the semiconductor company’s stock valued at $112,000 after purchasing an additional 725 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of IPG Photonics in the 2nd quarter valued at about $114,000. 59.07% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $102.62, for a total value of $846,615.00. Following the sale, the insider now owns 7,287,349 shares in the company, valued at approximately $747,827,754.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $102.62, for a total value of $846,615.00. Following the sale, the insider now owns 7,287,349 shares in the company, valued at approximately $747,827,754.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eric Meurice sold 785 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $102.08, for a total value of $80,132.80. Following the completion of the sale, the director now owns 15,706 shares in the company, valued at approximately $1,603,268.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,035 shares of company stock worth $4,137,648. Company insiders own 37.10% of the company’s stock.
IPG Photonics Trading Up 0.6 %
IPG Photonics (NASDAQ:IPGP – Get Free Report) last released its earnings results on Tuesday, October 31st. The semiconductor company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. IPG Photonics had a return on equity of 3.56% and a net margin of 6.40%. The company had revenue of $301.40 million for the quarter, compared to analysts’ expectations of $316.13 million. During the same quarter in the previous year, the firm posted $1.47 EPS. The firm’s quarterly revenue was down 13.6% on a year-over-year basis. Equities analysts forecast that IPG Photonics Co. will post 4.65 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on IPGP shares. Bank of America reduced their target price on IPG Photonics from $107.00 to $93.00 in a report on Wednesday, October 11th. Benchmark reissued a “buy” rating and issued a $134.00 target price on shares of IPG Photonics in a report on Monday, August 14th. StockNews.com started coverage on IPG Photonics in a report on Thursday, October 5th. They issued a “hold” rating for the company. Stifel Nicolaus reduced their price objective on IPG Photonics from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 30th. Finally, Raymond James raised IPG Photonics from an “outperform” rating to a “strong-buy” rating and set a $170.00 price objective for the company in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.33.
About IPG Photonics
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.
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