Virtu Financial LLC purchased a new position in shares of IPG Photonics Co. (NASDAQ:IPGP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,188 shares of the semiconductor company’s stock, valued at approximately $248,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Equity Investment Corp bought a new stake in shares of IPG Photonics during the third quarter valued at about $307,000. Vident Investment Advisory LLC increased its position in shares of IPG Photonics by 41.9% during the third quarter. Vident Investment Advisory LLC now owns 224,158 shares of the semiconductor company’s stock valued at $34,985,000 after buying an additional 66,220 shares during the period. Renaissance Technologies LLC bought a new stake in shares of IPG Photonics during the third quarter valued at about $21,069,000. Mackenzie Financial Corp increased its position in shares of IPG Photonics by 307.3% during the third quarter. Mackenzie Financial Corp now owns 864,514 shares of the semiconductor company’s stock valued at $134,925,000 after buying an additional 652,276 shares during the period. Finally, State of Alaska Department of Revenue increased its position 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 valued at $1,166,000 after buying an additional 1,041 shares during the period. Hedge funds and other institutional investors own 60.29% of the company’s stock.
Several equities research analysts have recently weighed in on IPGP shares. TheStreet cut IPG Photonics from a “b-” rating to a “c+” rating in a research report on Friday, December 28th. Bank of America assumed coverage on IPG Photonics in a report on Friday, October 19th. They set a “neutral” rating for the company. BidaskClub raised IPG Photonics from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. UBS Group initiated coverage on IPG Photonics in a research note on Friday, November 30th. They issued a “neutral” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $157.00 price objective (down previously from $160.00) on shares of IPG Photonics in a report on Tuesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $190.64.
Shares of NASDAQ:IPGP opened at $149.39 on Thursday. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.10 and a beta of 1.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.81 and a current ratio of 8.64. IPG Photonics Co. has a 52-week low of $104.64 and a 52-week high of $261.77.
IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, February 12th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.03). IPG Photonics had a return on equity of 20.30% and a net margin of 25.58%. The firm had revenue of $330.10 million during the quarter, compared to analysts’ expectations of $314.91 million. During the same period in the previous year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, equities analysts anticipate that IPG Photonics Co. will post 7.41 EPS for the current year.
TRADEMARK VIOLATION WARNING: This article was first reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.baseballdailydigest.com/news/2019/02/14/virtu-financial-llc-acquires-shares-of-2188-ipg-photonics-co-ipgp.html.
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.
Receive News & Ratings for IPG Photonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics and related companies with MarketBeat.com's FREE daily email newsletter.