Hardman Johnston Global Advisors LLC Has $463,000 Stake in IPG Photonics Corporation (IPGP)

Hardman Johnston Global Advisors LLC trimmed its position in IPG Photonics Corporation (NASDAQ:IPGP) by 16.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,500 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Hardman Johnston Global Advisors LLC’s holdings in IPG Photonics Corporation were worth $463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of IPG Photonics Corporation in the 2nd quarter valued at $352,000. Morgan Stanley raised its holdings in shares of IPG Photonics Corporation by 31.8% in the 1st quarter. Morgan Stanley now owns 247,448 shares of the semiconductor company’s stock valued at $29,867,000 after purchasing an additional 59,731 shares in the last quarter. Prudential PLC raised its holdings in shares of IPG Photonics Corporation by 12.3% in the 2nd quarter. Prudential PLC now owns 43,000 shares of the semiconductor company’s stock valued at $6,239,000 after purchasing an additional 4,700 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of IPG Photonics Corporation by 5.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock valued at $110,233,000 after purchasing an additional 37,918 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of IPG Photonics Corporation by 131.0% in the 1st quarter. Legal & General Group Plc now owns 22,963 shares of the semiconductor company’s stock valued at $2,772,000 after purchasing an additional 13,023 shares in the last quarter. Institutional investors and hedge funds own 58.94% of the company’s stock.

IPGP has been the topic of several research analyst reports. Zacks Investment Research lowered shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. ValuEngine raised shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Stifel Nicolaus reissued a “hold” rating and set a $170.00 price objective (up from $165.00) on shares of IPG Photonics Corporation in a research report on Friday, September 1st. DA Davidson reissued a “buy” rating and set a $220.00 price objective on shares of IPG Photonics Corporation in a research report on Tuesday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective (up from $182.00) on shares of IPG Photonics Corporation in a research report on Friday, October 20th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. IPG Photonics Corporation currently has an average rating of “Buy” and an average target price of $180.33.

IPG Photonics Corporation (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.32. IPG Photonics Corporation had a net margin of 27.85% and a return on equity of 21.17%. The company had revenue of $392.62 million during the quarter, compared to analyst estimates of $367.27 million. During the same quarter last year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 47.6% on a year-over-year basis.

COPYRIGHT VIOLATION NOTICE: This report was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another website, it was illegally stolen and republished in violation of international copyright laws. The correct version of this report can be read at https://www.com-unik.info/2017/11/02/hardman-johnston-global-advisors-llc-has-463000-stake-in-ipg-photonics-corporation-ipgp.html.

In other news, SVP Angelo P. Lopresti sold 11,750 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $163.33, for a total transaction of $1,919,127.50. Following the completion of the transaction, the senior vice president now owns 49,515 shares in the company, valued at approximately $8,087,284.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William S. Hurley sold 8,167 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the transaction, the director now owns 12,672 shares of the company’s stock, valued at approximately $2,096,202.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,017 shares of company stock valued at $8,724,286. Insiders own 33.80% of the company’s stock.

About IPG Photonics Corporation

IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.

Want to see what other hedge funds are holding IPGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IPG Photonics Corporation (NASDAQ:IPGP).

Institutional Ownership by Quarter for IPG Photonics Corporation (NASDAQ:IPGP)

What are top analysts saying about IPG Photonics Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for IPG Photonics Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit