Toronto Dominion Bank reduced its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,585 shares of the semiconductor company’s stock after selling 601 shares during the period. Toronto Dominion Bank’s holdings in IPG Photonics were worth $3,680,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of IPGP. Psagot Investment House Ltd. acquired a new position in IPG Photonics in the second quarter valued at about $124,000. NumerixS Investment Technologies Inc acquired a new position in IPG Photonics in the second quarter valued at about $128,000. Signet Financial Management LLC boosted its position in IPG Photonics by 556.7% in the second quarter. Signet Financial Management LLC now owns 683 shares of the semiconductor company’s stock valued at $151,000 after buying an additional 579 shares in the last quarter. Centaurus Financial Inc. acquired a new position in IPG Photonics in the second quarter valued at about $177,000. Finally, Flagship Harbor Advisors LLC acquired a new position in IPG Photonics in the second quarter valued at about $187,000. Institutional investors and hedge funds own 60.76% of the company’s stock.
Shares of NASDAQ IPGP opened at $137.74 on Friday. IPG Photonics Co. has a 1-year low of $107.59 and a 1-year high of $264.11. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 2.01 and a beta of 1.77. The company has a quick ratio of 6.81, a current ratio of 8.64 and a debt-to-equity ratio of 0.02.
IPGP has been the topic of a number of recent analyst reports. Raymond James upgraded shares of IPG Photonics from a “market perform” rating to a “strong-buy” rating in a research report on Friday, September 21st. Bank of America initiated coverage on shares of IPG Photonics in a research report on Friday, October 19th. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded shares of IPG Photonics from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. ValuEngine downgraded shares of IPG Photonics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, Longbow Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Friday, September 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $219.75.
In related news, CAO Thomas J. Burgomaster sold 294 shares of the business’s stock in a transaction that occurred on Sunday, December 2nd. The shares were sold at an average price of $93.70, for a total transaction of $27,547.80. Following the completion of the sale, the chief accounting officer now directly owns 6,037 shares of the company’s stock, valued at $565,666.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas J. Burgomaster sold 637 shares of the business’s stock in a transaction that occurred on Sunday, November 11th. The stock was sold at an average price of $90.85, for a total transaction of $57,871.45. Following the sale, the chief accounting officer now directly owns 6,037 shares of the company’s stock, valued at $548,461.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,131 shares of company stock valued at $103,915. Insiders own 33.80% of the company’s stock.
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IPG Photonics 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.
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