Dundas Partners LLP boosted its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 12.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 46,857 shares of the semiconductor company’s stock after buying an additional 5,151 shares during the period. IPG Photonics comprises about 1.7% of Dundas Partners LLP’s portfolio, making the stock its 29th biggest holding. Dundas Partners LLP’s holdings in IPG Photonics were worth $7,227,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of IPGP. DekaBank Deutsche Girozentrale increased its position in IPG Photonics by 1,205.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 253,394 shares of the semiconductor company’s stock worth $38,166,000 after buying an additional 233,984 shares during the last quarter. FMR LLC lifted its stake in shares of IPG Photonics by 342.7% in the first quarter. FMR LLC now owns 235,257 shares of the semiconductor company’s stock valued at $35,708,000 after buying an additional 182,112 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of IPG Photonics by 7.3% in the first quarter. First Eagle Investment Management LLC now owns 1,627,820 shares of the semiconductor company’s stock valued at $247,071,000 after buying an additional 110,989 shares during the period. Carillon Tower Advisers Inc. lifted its stake in shares of IPG Photonics by 15.6% in the first quarter. Carillon Tower Advisers Inc. now owns 712,934 shares of the semiconductor company’s stock valued at $108,209,000 after buying an additional 96,046 shares during the period. Finally, Jackson Square Partners LLC lifted its stake in shares of IPG Photonics by 12.6% in the first quarter. Jackson Square Partners LLC now owns 518,014 shares of the semiconductor company’s stock valued at $78,624,000 after buying an additional 57,957 shares during the period. 64.57% of the stock is currently owned by hedge funds and other institutional investors.
IPGP has been the subject of several research reports. Benchmark cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. BidaskClub cut shares of IPG Photonics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Cascend Securities reiterated a “buy” rating and issued a $200.00 target price (up previously from $180.00) on shares of IPG Photonics in a research note on Wednesday, May 1st. Raymond James reduced their target price on shares of IPG Photonics from $204.00 to $190.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st. Finally, Zacks Investment Research upgraded shares of IPG Photonics from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. IPG Photonics currently has an average rating of “Hold” and an average target price of $171.67.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.07). The business had revenue of $363.80 million for the quarter, compared to the consensus estimate of $352.31 million. IPG Photonics had a return on equity of 13.68% and a net margin of 22.23%. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 EPS. On average, analysts expect that IPG Photonics Co. will post 4.71 earnings per share for the current fiscal year.
In other IPG Photonics news, SVP Trevor Ness sold 166 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $165.00, for a total transaction of $27,390.00. Following the completion of the transaction, the senior vice president now owns 20,753 shares in the company, valued at $3,424,245. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Thomas J. Burgomaster sold 621 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $145.75, for a total transaction of $90,510.75. Following the transaction, the chief accounting officer now owns 7,577 shares of the company’s stock, valued at approximately $1,104,347.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,049 shares of company stock valued at $1,957,905. Corporate insiders own 33.90% of the company’s stock.
IPG Photonics Company Profile
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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