Princeton Capital Management LLC purchased a new stake in shares of IPG Photonics Co. (NASDAQ:IPGP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,577 shares of the semiconductor company’s stock, valued at approximately $2,479,000.
Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in IPG Photonics during the third quarter valued at approximately $8,013,000. Alps Advisors Inc. grew its holdings in IPG Photonics by 14.4% during the third quarter. Alps Advisors Inc. now owns 4,629 shares of the semiconductor company’s stock valued at $857,000 after purchasing an additional 582 shares during the last quarter. Moors & Cabot Inc. acquired a new position in IPG Photonics during the third quarter valued at approximately $1,374,000. Westpac Banking Corp acquired a new position in IPG Photonics during the third quarter valued at approximately $6,274,000. Finally, Fernwood Investment Management LLC acquired a new position in IPG Photonics during the third quarter valued at approximately $816,000. Institutional investors own 57.33% of the company’s stock.
Several equities analysts have commented on IPGP shares. BidaskClub downgraded IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of IPG Photonics in a research report on Wednesday, November 1st. ValuEngine cut IPG Photonics from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Needham & Company LLC increased their price objective on IPG Photonics from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, DA Davidson increased their price objective on IPG Photonics to $235.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. IPG Photonics currently has a consensus rating of “Buy” and a consensus price target of $213.60.
Shares of IPG Photonics Co. (IPGP) opened at $248.11 on Tuesday. IPG Photonics Co. has a 12-month low of $116.02 and a 12-month high of $264.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.82 and a quick ratio of 7.27. The firm has a market capitalization of $12,920.88, a P/E ratio of 39.01, a PEG ratio of 2.49 and a beta of 1.88.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Friday, February 16th. The semiconductor company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.14. IPG Photonics had a return on equity of 21.29% and a net margin of 24.67%. The company had revenue of $361.10 million during the quarter, compared to analysts’ expectations of $345.63 million. During the same period in the prior year, the business earned $1.39 earnings per share. IPG Photonics’s revenue for the quarter was up 28.9% compared to the same quarter last year. sell-side analysts anticipate that IPG Photonics Co. will post 8.11 EPS for the current fiscal year.
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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