Jennison Associates LLC trimmed its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 19.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,474 shares of the semiconductor company’s stock after selling 31,135 shares during the period. Jennison Associates LLC’s holdings in IPG Photonics were worth $28,367,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Strs Ohio bought a new position in shares of IPG Photonics during the fourth quarter valued at about $101,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of IPG Photonics during the fourth quarter valued at about $128,000. Advantage Investment Management LLC lifted its position in shares of IPG Photonics by 366.5% during the third quarter. Advantage Investment Management LLC now owns 933 shares of the semiconductor company’s stock valued at $173,000 after purchasing an additional 733 shares in the last quarter. Elefante Mark B bought a new position in shares of IPG Photonics during the third quarter valued at about $201,000. Finally, Fulton Bank N.A. bought a new position in shares of IPG Photonics during the third quarter valued at about $202,000. 56.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Needham & Company LLC raised their price target on shares of IPG Photonics from $230.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Northcoast Research reissued a “buy” rating and set a $290.00 price target on shares of IPG Photonics in a research report on Wednesday. BidaskClub raised shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. ValuEngine lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research lowered shares of IPG Photonics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $196.30.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.79 by $0.32. The business had revenue of $392.62 million for the quarter, compared to analyst estimates of $367.27 million. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. equities analysts forecast that IPG Photonics Co. will post 7.13 EPS for the current year.
In other news, SVP Trevor Ness sold 10,000 shares of IPG Photonics stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $208.17, for a total value of $2,081,700.00. Following the completion of the transaction, the senior vice president now owns 22,906 shares in the company, valued at $4,768,342.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Pv Mammen sold 2,500 shares of IPG Photonics stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $261.53, for a total transaction of $653,825.00. Following the completion of the transaction, the chief financial officer now owns 33,600 shares of the company’s stock, valued at approximately $8,787,408. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,500 shares of company stock worth $10,717,320. Insiders own 33.80% of the company’s stock.
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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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