MML Investors Services LLC grew its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 48.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,274 shares of the semiconductor company’s stock after buying an additional 745 shares during the period. MML Investors Services LLC’s holdings in IPG Photonics were worth $487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of IPG Photonics during the fourth quarter valued at approximately $101,000. MUFG Americas Holdings Corp raised its position in shares of IPG Photonics by 122.5% during the fourth quarter. MUFG Americas Holdings Corp now owns 485 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 267 shares during the last quarter. Bollard Group LLC raised its position in shares of IPG Photonics by 145.5% during the fourth quarter. Bollard Group LLC now owns 491 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 291 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in IPG Photonics in the fourth quarter worth $128,000. Finally, C M Bidwell & Associates Ltd. increased its position in IPG Photonics by 114.3% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 600 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 57.08% of the company’s stock.
Several equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of IPG Photonics from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded shares of IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $275.00 price target on the stock in a research report on Thursday, February 22nd. DA Davidson boosted their price target on shares of IPG Photonics from $1.86 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Benchmark reaffirmed a “buy” rating and set a $255.00 price objective (up from $230.00) on shares of IPG Photonics in a research note on Tuesday, February 20th. Finally, Canaccord Genuity lifted their price objective on shares of IPG Photonics from $210.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, February 20th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $213.60.
IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Friday, February 16th. The semiconductor company reported $1.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.14. The firm had revenue of $361.10 million during the quarter, compared to analyst estimates of $345.63 million. IPG Photonics had a net margin of 24.67% and a return on equity of 21.29%. The business’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. sell-side analysts predict that IPG Photonics Co. will post 8.37 EPS for the current fiscal year.
In related news, Director John R. Peeler sold 2,266 shares of IPG Photonics stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $252.95, for a total value of $573,184.70. Following the completion of the sale, the director now directly owns 9,270 shares in the company, valued at $2,344,846.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Pv Mammen sold 12,500 shares of IPG Photonics stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $243.41, for a total value of $3,042,625.00. Following the completion of the sale, the chief financial officer now owns 38,040 shares of the company’s stock, valued at $9,259,316.40. The disclosure for this sale can be found here. Insiders sold 60,500 shares of company stock valued at $15,095,172 over the last 90 days. 33.80% of the stock is currently owned by corporate insiders.
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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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