IPG Photonics Corporation (IPGP) is Mitchell Capital Management Co.’s 8th Largest Position
Mitchell Capital Management Co. trimmed its position in IPG Photonics Corporation (NASDAQ:IPGP) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,875 shares of the semiconductor company’s stock after selling 806 shares during the quarter. IPG Photonics Corporation makes up approximately 2.8% of Mitchell Capital Management Co.’s portfolio, making the stock its 8th biggest holding. Mitchell Capital Management Co. owned approximately 0.08% of IPG Photonics Corporation worth $7,749,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in shares of IPG Photonics Corporation in the second quarter worth approximately $352,000. Prudential PLC increased its position in shares of IPG Photonics Corporation by 12.3% in the second quarter. Prudential PLC now owns 43,000 shares of the semiconductor company’s stock worth $6,239,000 after purchasing an additional 4,700 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of IPG Photonics Corporation by 5.3% in the second quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock worth $110,233,000 after purchasing an additional 37,918 shares during the last quarter. Legal & General Group Plc increased its position in shares of IPG Photonics Corporation by 131.0% in the first quarter. Legal & General Group Plc now owns 22,963 shares of the semiconductor company’s stock worth $2,772,000 after purchasing an additional 13,023 shares during the last quarter. Finally, Virginia Retirement Systems ET AL increased its position in shares of IPG Photonics Corporation by 81.0% in the second quarter. Virginia Retirement Systems ET AL now owns 7,600 shares of the semiconductor company’s stock worth $1,103,000 after purchasing an additional 3,400 shares during the last quarter. 58.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IPG Photonics Corporation (IPGP) traded up $6.52 during midday trading on Friday, reaching $213.86. 330,180 shares of the company’s stock were exchanged, compared to its average volume of 445,672. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.97. IPG Photonics Corporation has a twelve month low of $92.88 and a twelve month high of $219.64. The company has a market capitalization of $11,462.68, a PE ratio of 31.50, a P/E/G ratio of 1.56 and a beta of 1.68.
IPG Photonics Corporation (NASDAQ:IPGP) last issued its earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analysts’ expectations of $367.27 million. During the same quarter last year, the company posted $1.29 earnings per share. IPG Photonics Corporation’s revenue was up 47.6% on a year-over-year basis. sell-side analysts forecast that IPG Photonics Corporation will post 6.95 earnings per share for the current year.
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In other IPG Photonics Corporation news, CFO Timothy Pv Mammen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $162.87, for a total value of $1,628,700.00. Following the transaction, the chief financial officer now owns 41,100 shares of the company’s stock, valued at $6,693,957. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the completion of the transaction, the senior vice president now directly owns 16,957 shares in the company, valued at approximately $3,370,882.03. The disclosure for this sale can be found here. Insiders sold 51,017 shares of company stock worth $8,724,286 in the last three months. 33.80% of the stock is currently owned by corporate insiders.
Several research firms recently weighed in on IPGP. Canaccord Genuity cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, July 18th. Benchmark Co. restated a “buy” rating and issued a $180.00 price objective on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Stifel Nicolaus restated a “hold” rating and issued a $170.00 price objective (up from $165.00) on shares of IPG Photonics Corporation in a research report on Friday, September 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $182.00 price objective (up from $160.00) on shares of IPG Photonics Corporation in a research report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $180.33.
IPG Photonics Corporation 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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