Belpointe Asset Management LLC Buys Shares of 6,017 IPG Photonics Corporation (IPGP)
Belpointe Asset Management LLC purchased a new stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,017 shares of the semiconductor company’s stock, valued at approximately $1,114,000.
Other hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in IPG Photonics in the second quarter worth $352,000. Prudential PLC increased its holdings in shares of IPG Photonics by 12.3% during the second quarter. Prudential PLC now owns 43,000 shares of the semiconductor company’s stock valued at $6,239,000 after purchasing an additional 4,700 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of IPG Photonics during the third quarter valued at $8,013,000. Eagle Asset Management Inc. boosted its stake in IPG Photonics by 5.3% during the second quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock valued at $110,233,000 after buying an additional 37,918 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in IPG Photonics by 81.0% during the second quarter. Virginia Retirement Systems ET AL now owns 7,600 shares of the semiconductor company’s stock valued at $1,103,000 after buying an additional 3,400 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Trevor Ness sold 10,000 shares of IPG Photonics stock in a transaction on Monday, December 4th. The stock was sold at an average price of $208.17, for a total transaction of $2,081,700.00. Following the completion of the sale, the senior vice president now directly owns 22,906 shares of the company’s stock, valued at $4,768,342.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of IPG Photonics stock in a transaction on Monday, October 16th. The stock was sold at an average price of $198.79, for a total value of $1,888,505.00. Following the sale, the senior vice president now directly owns 16,957 shares of the company’s stock, valued at $3,370,882.03. The disclosure for this sale can be found here. 33.80% of the stock is owned by insiders.
Shares of IPG Photonics Corporation (IPGP) opened at $204.98 on Wednesday. The stock has a market capitalization of $11,079.72, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 1.50 and a beta of 1.70. The company has a quick ratio of 7.46, a current ratio of 9.02 and a debt-to-equity ratio of 0.02. IPG Photonics Corporation has a fifty-two week low of $95.04 and a fifty-two week high of $248.23.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.32. The company had revenue of $392.62 million for the quarter, compared to analyst estimates of $367.27 million. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. IPG Photonics’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 EPS. equities research analysts forecast that IPG Photonics Corporation will post 7.01 earnings per share for the current fiscal year.
IPGP has been the subject of several research reports. Zacks Investment Research cut IPG Photonics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. ValuEngine upgraded IPG Photonics from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of IPG Photonics in a research note on Wednesday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective (up from $182.00) on shares of IPG Photonics in a research note on Friday, October 20th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $170.00 price target (up from $165.00) on shares of IPG Photonics in a research note on Friday, September 1st. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. IPG Photonics presently has a consensus rating of “Buy” and a consensus target price of $180.33.
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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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