State of Alaska Department of Revenue lifted its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 9.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,073 shares of the semiconductor company’s stock after acquiring an additional 866 shares during the period. State of Alaska Department of Revenue’s holdings in IPG Photonics were worth $1,553,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its position in shares of IPG Photonics by 44.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 4,480 shares of the semiconductor company’s stock valued at $691,000 after purchasing an additional 1,386 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in IPG Photonics by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 8,102 shares of the semiconductor company’s stock valued at $1,249,000 after buying an additional 207 shares in the last quarter. Capital Impact Advisors LLC lifted its stake in IPG Photonics by 4.6% during the second quarter. Capital Impact Advisors LLC now owns 19,152 shares of the semiconductor company’s stock valued at $2,883,000 after buying an additional 837 shares in the last quarter. American Research & Management Co. lifted its stake in IPG Photonics by 4.6% during the second quarter. American Research & Management Co. now owns 6,675 shares of the semiconductor company’s stock valued at $1,030,000 after buying an additional 295 shares in the last quarter. Finally, Spearhead Capital Advisors LLC purchased a new stake in IPG Photonics during the second quarter valued at about $215,000. Institutional investors and hedge funds own 64.20% of the company’s stock.
A number of research firms have commented on IPGP. Canaccord Genuity set a $150.00 price objective on shares of IPG Photonics and gave the company a “hold” rating in a research note on Wednesday, July 31st. Needham & Company LLC set a $148.00 price target on shares of IPG Photonics and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Benchmark lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Susquehanna Bancshares set a $127.00 price target on shares of IPG Photonics and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, Bank of America raised shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. IPG Photonics has an average rating of “Hold” and a consensus target price of $171.67.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.07). IPG Photonics had a net margin of 22.23% and a return on equity of 13.68%. The company had revenue of $363.80 million for the quarter, compared to analyst estimates of $352.31 million. During the same quarter last year, the business earned $2.21 EPS. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. Research analysts anticipate that IPG Photonics Co. will post 4.71 earnings per share for the current fiscal year.
In other IPG Photonics news, insider Igor Samartsev sold 800 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $130.01, for a total transaction of $104,008.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Thomas J. Burgomaster sold 621 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $145.75, for a total transaction of $90,510.75. Following the completion of the sale, the chief accounting officer now owns 7,577 shares in the company, valued at approximately $1,104,347.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,049 shares of company stock worth $1,957,905. Corporate insiders own 33.90% of the company’s stock.
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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