Carillon Tower Advisers Inc. increased its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 24.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 684,173 shares of the semiconductor company’s stock after buying an additional 132,469 shares during the quarter. IPG Photonics comprises 0.8% of Carillon Tower Advisers Inc.’s portfolio, making the stock its 14th largest holding. Carillon Tower Advisers Inc.’s holdings in IPG Photonics were worth $106,888,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in IPG Photonics by 5.8% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,524 shares of the semiconductor company’s stock worth $1,219,000 after buying an additional 304 shares in the last quarter. Piedmont Investment Advisors LLC lifted its position in IPG Photonics by 6.3% in the second quarter. Piedmont Investment Advisors LLC now owns 5,381 shares of the semiconductor company’s stock worth $1,187,000 after purchasing an additional 317 shares during the period. Norinchukin Bank The lifted its position in IPG Photonics by 8.5% in the third quarter. Norinchukin Bank The now owns 4,631 shares of the semiconductor company’s stock worth $723,000 after purchasing an additional 364 shares during the period. Granahan Investment Management Inc. MA lifted its position in IPG Photonics by 3.2% in the second quarter. Granahan Investment Management Inc. MA now owns 12,922 shares of the semiconductor company’s stock worth $2,851,000 after purchasing an additional 400 shares during the period. Finally, Intrust Bank NA lifted its position in IPG Photonics by 10.4% in the second quarter. Intrust Bank NA now owns 4,500 shares of the semiconductor company’s stock worth $993,000 after purchasing an additional 424 shares during the period. 60.76% of the stock is owned by institutional investors and hedge funds.
IPGP has been the subject of a number of research analyst reports. ValuEngine downgraded IPG Photonics from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. BidaskClub downgraded IPG Photonics from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Raymond James upgraded IPG Photonics from a “market perform” rating to a “strong-buy” rating in a research report on Friday, September 21st. Benchmark cut their target price on IPG Photonics from $170.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Finally, DA Davidson cut their target price on IPG Photonics to $200.00 in a research report on Monday, October 8th. 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 issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $219.75.
Shares of NASDAQ:IPGP opened at $137.74 on Monday. IPG Photonics Co. has a one year low of $107.59 and a one year high of $264.11. The firm has a market cap of $7.36 billion, a PE ratio of 17.43, a P/E/G ratio of 2.01 and a beta of 1.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.64 and a quick ratio of 6.81.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.01). IPG Photonics had a net margin of 25.58% and a return on equity of 20.30%. The company had revenue of $356.35 million for the quarter, compared to analyst estimates of $355.48 million. During the same quarter last year, the company posted $2.11 EPS. IPG Photonics’s revenue was down 9.2% on a year-over-year basis. On average, equities research analysts expect that IPG Photonics Co. will post 7.41 EPS for the current year.
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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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