Barings LLC increased its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,310 shares of the semiconductor company’s stock after purchasing an additional 470 shares during the quarter. Barings LLC’s holdings in IPG Photonics were worth $983,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Neumeier Poma Investment Counsel LLC boosted its stake in IPG Photonics by 4.7% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 103,735 shares of the semiconductor company’s stock valued at $19,197,000 after buying an additional 4,685 shares during the last quarter. WINTON GROUP Ltd boosted its stake in IPG Photonics by 489.4% during the third quarter. WINTON GROUP Ltd now owns 36,838 shares of the semiconductor company’s stock valued at $6,817,000 after buying an additional 30,588 shares during the last quarter. Axiom International Investors LLC DE bought a new position in IPG Photonics during the third quarter valued at approximately $1,571,000. JPMorgan Chase & Co. boosted its stake in IPG Photonics by 41.6% during the third quarter. JPMorgan Chase & Co. now owns 462,817 shares of the semiconductor company’s stock valued at $85,010,000 after buying an additional 136,082 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in IPG Photonics by 126.3% during the third quarter. Virginia Retirement Systems ET AL now owns 17,200 shares of the semiconductor company’s stock valued at $3,183,000 after buying an additional 9,600 shares during the last quarter. Hedge funds and other institutional investors own 56.44% of the company’s stock.
In related news, SVP Eugene A. Shcherbakov sold 9,500 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the completion of the sale, the senior vice president now directly owns 16,957 shares of the company’s stock, valued at approximately $3,370,882.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 33.80% of the stock is currently owned by company insiders.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.32. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. The business had revenue of $392.62 million during the quarter, compared to analyst estimates of $367.27 million. During the same period last year, the company earned $1.29 EPS. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. sell-side analysts predict that IPG Photonics Corporation will post 7.01 earnings per share for the current fiscal year.
A number of equities analysts recently commented on IPGP shares. DA Davidson reissued a “buy” rating and set a $220.00 price target on shares of IPG Photonics in a research note on Tuesday, October 10th. Benchmark reissued a “buy” rating and set a $230.00 price target on shares of IPG Photonics in a research note on Wednesday, November 1st. Zacks Investment Research raised IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $240.00 price target for the company in a research note on Friday, October 27th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target (up from $182.00) on shares of IPG Photonics in a research note on Friday, October 20th. Finally, ValuEngine lowered IPG Photonics from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $180.33.
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About IPG Photonics
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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