IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Swiss National Bank

Share on StockTwits

Swiss National Bank reduced its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,700 shares of the semiconductor company’s stock after selling 3,100 shares during the period. Swiss National Bank owned 0.23% of IPG Photonics worth $18,772,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IPGP. Lazard Asset Management LLC lifted its holdings in IPG Photonics by 1.3% in the first quarter. Lazard Asset Management LLC now owns 828,820 shares of the semiconductor company’s stock valued at $125,797,000 after acquiring an additional 10,637 shares during the last quarter. American Capital Management Inc. lifted its holdings in IPG Photonics by 1.0% in the first quarter. American Capital Management Inc. now owns 132,549 shares of the semiconductor company’s stock valued at $20,118,000 after acquiring an additional 1,362 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in 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 acquiring an additional 110,989 shares during the last quarter. SRB Corp lifted its holdings in IPG Photonics by 10.0% in the first quarter. SRB Corp now owns 4,547 shares of the semiconductor company’s stock valued at $690,000 after acquiring an additional 412 shares during the last quarter. Finally, Eagle Ridge Investment Management lifted its holdings in IPG Photonics by 1.2% in the first quarter. Eagle Ridge Investment Management now owns 46,622 shares of the semiconductor company’s stock valued at $7,076,000 after acquiring an additional 569 shares during the last quarter. Institutional investors and hedge funds own 64.58% of the company’s stock.

IPG Photonics stock opened at $124.73 on Friday. IPG Photonics Co. has a twelve month low of $104.64 and a twelve month high of $182.17. The stock’s fifty day simple moving average is $131.24 and its 200-day simple moving average is $145.87. The company has a current ratio of 8.38, a quick ratio of 6.47 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $6.55 billion, a P/E ratio of 16.90, a P/E/G ratio of 3.55 and a beta of 2.13.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.07). IPG Photonics had a return on equity of 13.68% and a net margin of 22.23%. The company had revenue of $363.80 million for the quarter, compared to analysts’ expectations of $352.31 million. During the same period in the prior year, the company posted $2.21 EPS. The firm’s revenue was down 12.0% compared to the same quarter last year. Sell-side analysts predict that IPG Photonics Co. will post 4.71 earnings per share for the current year.

In related news, insider Thomas J. Burgomaster sold 836 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $157.02, for a total transaction of $131,268.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $150.53, for a total transaction of $1,505,300.00. Following the transaction, the insider now owns 7,545,999 shares of the company’s stock, valued at approximately $1,135,899,229.47. The disclosure for this sale can be found here. Insiders have sold 13,049 shares of company stock worth $1,957,905 in the last ninety days. Corporate insiders own 33.90% of the company’s stock.

A number of research analysts recently commented on the company. Susquehanna Bancshares set a $127.00 price objective on IPG Photonics and gave the company a “hold” rating in a report on Wednesday, July 31st. Needham & Company LLC set a $148.00 target price on IPG Photonics and gave the company a “buy” rating in a research report on Wednesday, July 31st. Canaccord Genuity set a $150.00 target price on IPG Photonics and gave the company a “hold” rating in a research report on Wednesday, July 31st. Raymond James cut their target price on IPG Photonics from $204.00 to $190.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $171.67.

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.

Read More: What is a Real Estate Investment Trust (REIT)?

Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

Receive News & Ratings for IPG Photonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Sigma Planning Corp Invests $214,000 in SPDR Portfolio S&P 500 Growth ETF
Sigma Planning Corp Invests $214,000 in SPDR Portfolio S&P 500 Growth ETF
IPG Photonics Co.  Shares Sold by Swiss National Bank
IPG Photonics Co. Shares Sold by Swiss National Bank
Brokerages Set Avid Technology, Inc.  Target Price at $9.17
Brokerages Set Avid Technology, Inc. Target Price at $9.17
Intercontinental Wealth Advisors LLC Has $524,000 Stock Holdings in Exxon Mobil Co.
Intercontinental Wealth Advisors LLC Has $524,000 Stock Holdings in Exxon Mobil Co.
Brokerages Set BRT Apartments Corp  Price Target at $13.50
Brokerages Set BRT Apartments Corp Price Target at $13.50
Amazon.com, Inc.  is Truehand Inc’s Largest Position
Amazon.com, Inc. is Truehand Inc’s Largest Position


© 2006-2019 Ticker Report