Great West Life Assurance Co. Can Increases Stake in IPG Photonics Corporation (IPGP)

Great West Life Assurance Co. Can grew its holdings in IPG Photonics Corporation (NASDAQ:IPGP) by 3.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 80,952 shares of the semiconductor company’s stock after buying an additional 2,406 shares during the period. Great West Life Assurance Co. Can owned 0.15% of IPG Photonics worth $14,928,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC purchased a new position in IPG Photonics during the second quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in IPG Photonics by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock worth $200,000 after purchasing an additional 131 shares in the last quarter. Elefante Mark B purchased a new position in IPG Photonics during the third quarter worth about $201,000. Fulton Bank N.A. purchased a new position in IPG Photonics during the third quarter worth about $202,000. Finally, Cigna Investments Inc. New purchased a new position in IPG Photonics during the second quarter worth about $213,000. 59.99% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on IPGP. BidaskClub cut shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday. ValuEngine cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research raised shares of IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $240.00 price target for the company in a report on Friday, October 27th. DA Davidson increased their price target on shares of IPG Photonics to $235.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Needham & Company LLC increased their price target on shares of IPG Photonics from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $180.33.

In other IPG Photonics news, SVP Eugene A. Shcherbakov sold 9,500 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the transaction, the senior vice president now directly owns 16,957 shares in the company, valued at $3,370,882.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 33.80% of the company’s stock.

IPG Photonics Corporation (IPGP) opened at $224.13 on Friday. The company has a current ratio of 9.02, a quick ratio of 7.46 and a debt-to-equity ratio of 0.02. IPG Photonics Corporation has a 1 year low of $93.38 and a 1 year high of $248.23. The firm has a market cap of $12,276.96, a PE ratio of 33.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.70.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.32. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. The company had revenue of $392.62 million for the quarter, compared to analyst estimates of $367.27 million. During the same period in the prior year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 47.6% compared to the same quarter last year. equities analysts anticipate that IPG Photonics Corporation will post 7.01 EPS for the current fiscal year.

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IPG Photonics Company Profile

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.

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

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