Teacher Retirement System of Texas raised its position in shares of IPG Photonics Corp. (NASDAQ:IPGP) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,199 shares of the company’s stock after buying an additional 626 shares during the period. Teacher Retirement System of Texas’ holdings in IPG Photonics Corp. were worth $416,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. LS Investment Advisors LLC raised its stake in shares of IPG Photonics Corp. by 71.1% in the second quarter. LS Investment Advisors LLC now owns 2,212 shares of the company’s stock worth $177,000 after buying an additional 919 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of IPG Photonics Corp. by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,407 shares of the company’s stock worth $193,000 after buying an additional 57 shares during the last quarter. Gardiner Nancy B purchased a new stake in shares of IPG Photonics Corp. during the first quarter worth approximately $230,000. Virginia Retirement System purchased a new stake in shares of IPG Photonics Corp. during the first quarter worth approximately $259,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of IPG Photonics Corp. by 6.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the company’s stock worth $264,000 after buying an additional 200 shares during the last quarter. 59.47% of the stock is currently owned by institutional investors.
IPG Photonics Corp. (NASDAQ:IPGP) traded down 0.05% during trading on Friday, hitting $84.96. The stock had a trading volume of 209,468 shares. The company has a market capitalization of $4.52 billion, a P/E ratio of 18.96 and a beta of 2.18. The stock’s 50-day moving average price is $84.06 and its 200-day moving average price is $86.13. IPG Photonics Corp. has a 1-year low of $70.21 and a 1-year high of $102.90.
IPG Photonics Corp. (NASDAQ:IPGP) last posted its earnings results on Thursday, July 28th. The company reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.06. The company earned $252.80 million during the quarter, compared to analyst estimates of $243.79 million. IPG Photonics Corp. had a net margin of 25.87% and a return on equity of 18.29%. IPG Photonics Corp.’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 earnings per share. Analysts expect that IPG Photonics Corp. will post $4.62 earnings per share for the current year.
A number of analysts recently commented on IPGP shares. Zacks Investment Research lowered IPG Photonics Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Credit Agricole SA reaffirmed an “outperform” rating and issued a $92.00 target price on shares of IPG Photonics Corp. in a research report on Tuesday, September 13th. Canaccord Genuity reissued a “buy” rating and set a $90.00 price objective on shares of IPG Photonics Corp. in a report on Friday, July 22nd. Summit Redstone reissued a “buy” rating on shares of IPG Photonics Corp. in a report on Thursday, July 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $96.00 price objective (down from $98.00) on shares of IPG Photonics Corp. in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $94.83.
In other news, Director Catherine P. Lego bought 3,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $83.12 per share, for a total transaction of $249,360.00. Following the completion of the acquisition, the director now owns 3,012 shares in the company, valued at approximately $250,357.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 34.20% of the company’s stock.
IPG Photonics Corp. Company Profile
IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.
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