Ardevora Asset Management LLP Acquires Shares of 216,600 IPG Photonics Corporation (IPGP)
Ardevora Asset Management LLP acquired a new position in shares of IPG Photonics Corporation (NASDAQ:IPGP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 216,600 shares of the semiconductor company’s stock, valued at approximately $40,084,000. IPG Photonics Corporation makes up approximately 1.2% of Ardevora Asset Management LLP’s investment portfolio, making the stock its 12th largest position. Ardevora Asset Management LLP owned about 0.40% of IPG Photonics Corporation as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of IPGP. Elefante Mark B purchased a new stake in IPG Photonics Corporation in the 3rd quarter worth approximately $201,000. Fulton Bank N.A. purchased a new stake in IPG Photonics Corporation in the 3rd quarter worth approximately $202,000. Chicago Partners Investment Group LLC purchased a new stake in IPG Photonics Corporation in the 2nd quarter worth approximately $152,000. Beaumont Financial Partners LLC purchased a new stake in IPG Photonics Corporation in the 3rd quarter worth approximately $250,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in IPG Photonics Corporation by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock worth $200,000 after acquiring an additional 131 shares during the period. 58.14% of the stock is owned by institutional investors and hedge funds.
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IPG Photonics Corporation (IPGP) traded up $1.16 during trading hours on Tuesday, hitting $224.69. 406,600 shares of the company traded hands, compared to its average volume of 321,816. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.46. The firm has a market cap of $11,984.76, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 1.64 and a beta of 1.68. IPG Photonics Corporation has a 1-year low of $93.38 and a 1-year high of $225.55.
IPG Photonics Corporation (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.32. IPG Photonics Corporation had a net margin of 27.85% and a return on equity of 21.17%. The firm had revenue of $392.62 million for the quarter, compared to analyst estimates of $367.27 million. During the same quarter in the previous year, the business posted $1.29 EPS. The firm’s revenue was up 47.6% compared to the same quarter last year. equities research analysts forecast that IPG Photonics Corporation will post 6.95 EPS for the current year.
In other IPG Photonics Corporation news, SVP Eugene A. Shcherbakov sold 9,500 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $198.79, for a total value of $1,888,505.00. Following the transaction, the senior vice president now owns 16,957 shares in the company, valued at approximately $3,370,882.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Pv Mammen sold 11,600 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $166.98, for a total transaction of $1,936,968.00. Following the completion of the transaction, the chief financial officer now owns 42,700 shares in the company, valued at approximately $7,130,046. The disclosure for this sale can be found here. Insiders sold a total of 29,267 shares of company stock worth $5,176,458 in the last quarter. 33.80% of the stock is currently owned by company insiders.
IPGP has been the subject of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $220.00 target price on shares of IPG Photonics Corporation in a research note on Tuesday, October 10th. ValuEngine cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Stifel Nicolaus reissued a “hold” rating and set a $170.00 price objective (up from $165.00) on shares of IPG Photonics Corporation in a research note on Friday, September 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective (up from $182.00) on shares of IPG Photonics Corporation in a research note on Friday, October 20th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $180.33.
IPG Photonics Corporation 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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