Credit Agricole S A Sells 3,800 Shares of IPG Photonics Co. (IPGP)
Credit Agricole S A cut its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 48.7% during the fourth quarter, HoldingsChannel reports. The firm owned 4,000 shares of the semiconductor company’s stock after selling 3,800 shares during the period. Credit Agricole S A’s holdings in IPG Photonics were worth $856,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in shares of IPG Photonics during the third quarter valued at approximately $8,013,000. Alps Advisors Inc. boosted its stake in shares of IPG Photonics by 14.4% during the third quarter. Alps Advisors Inc. now owns 4,629 shares of the semiconductor company’s stock valued at $857,000 after purchasing an additional 582 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of IPG Photonics during the third quarter valued at approximately $1,374,000. Westpac Banking Corp bought a new position in shares of IPG Photonics during the third quarter valued at approximately $6,274,000. Finally, Macquarie Group Ltd. boosted its stake in shares of IPG Photonics by 15.9% during the third quarter. Macquarie Group Ltd. now owns 68,423 shares of the semiconductor company’s stock valued at $12,662,000 after purchasing an additional 9,400 shares in the last quarter. Hedge funds and other institutional investors own 57.33% of the company’s stock.
A number of equities analysts have recently issued reports on IPGP shares. Zacks Investment Research downgraded shares of IPG Photonics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Northcoast Research reiterated a “buy” rating and set a $290.00 price objective on shares of IPG Photonics in a research note on Wednesday, January 31st. BidaskClub upgraded shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Needham & Company LLC increased their price objective on shares of IPG Photonics from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, ValuEngine downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $213.60.
Shares of IPG Photonics Co. (NASDAQ:IPGP) opened at $244.80 on Friday. The firm has a market cap of $13,232.91, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 2.52 and a beta of 1.84. IPG Photonics Co. has a one year low of $116.02 and a one year high of $264.11. The company has a quick ratio of 7.27, a current ratio of 8.82 and a debt-to-equity ratio of 0.02.
IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Friday, February 16th. The semiconductor company reported $1.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.14. The company had revenue of $361.10 million during the quarter, compared to the consensus estimate of $345.63 million. IPG Photonics had a net margin of 24.67% and a return on equity of 21.29%. IPG Photonics’s revenue was up 28.9% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. equities research analysts anticipate that IPG Photonics Co. will post 8.25 EPS for the current year.
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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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