Zurcher Kantonalbank Zurich Cantonalbank Acquires 825 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,242 shares of the semiconductor company’s stock after acquiring an additional 825 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IPG Photonics were worth $786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC boosted its position in shares of IPG Photonics by 123.8% in the 3rd quarter. CWM LLC now owns 837 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 463 shares in the last quarter. Raymond James & Associates bought a new stake in IPG Photonics in the third quarter worth $314,000. Ardevora Asset Management LLP grew its stake in shares of IPG Photonics by 19.6% in the third quarter. Ardevora Asset Management LLP now owns 172,038 shares of the semiconductor company’s stock worth $17,469,000 after acquiring an additional 28,238 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of IPG Photonics by 4.8% during the third quarter. Verdence Capital Advisors LLC now owns 3,264 shares of the semiconductor company’s stock valued at $331,000 after acquiring an additional 150 shares in the last quarter. Finally, Strs Ohio raised its position in shares of IPG Photonics by 49.6% in the 3rd quarter. Strs Ohio now owns 17,071 shares of the semiconductor company’s stock worth $1,733,000 after purchasing an additional 5,659 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Up 0.2 %

NASDAQ:IPGP opened at $88.58 on Tuesday. The company has a 50 day simple moving average of $87.77 and a two-hundred day simple moving average of $94.21. The company has a market cap of $4.08 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 17.53 and a beta of 1.19. IPG Photonics Co. has a 12 month low of $83.00 and a 12 month high of $141.85.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). The firm had revenue of $298.89 million for the quarter, compared to analysts’ expectations of $287.03 million. IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company posted ($1.91) EPS. Research analysts forecast that IPG Photonics Co. will post 3.23 earnings per share for the current year.

IPG Photonics announced that its board has initiated a stock buyback plan on Tuesday, February 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to buy up to 7.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on IPGP shares. StockNews.com lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Seaport Res Ptn restated a “buy” rating on shares of IPG Photonics in a report on Thursday, January 25th. Stifel Nicolaus cut their target price on IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Finally, Citigroup cut IPG Photonics from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $111.00 to $74.00 in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $117.20.

Insider Transactions at IPG Photonics

In related news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $89.56, for a total transaction of $895,600.00. Following the completion of the sale, the insider now directly owns 7,209,599 shares in the company, valued at $645,691,686.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 29,000 shares of company stock worth $2,525,140 in the last quarter. Company insiders own 33.50% of the company’s stock.

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. Its 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.