Moors & Cabot Inc. lessened its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,080 shares of the semiconductor company’s stock after selling 90 shares during the period. Moors & Cabot Inc.’s holdings in IPG Photonics were worth $1,249,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC bought a new position in IPG Photonics during the 1st quarter worth $59,000. Stephens Inc. AR increased its stake in IPG Photonics by 89.4% during the 1st quarter. Stephens Inc. AR now owns 498 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 235 shares during the period. First Hawaiian Bank increased its stake in IPG Photonics by 68.3% during the 1st quarter. First Hawaiian Bank now owns 673 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 273 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in IPG Photonics during the 1st quarter worth $106,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in IPG Photonics during the 4th quarter worth $112,000. Hedge funds and other institutional investors own 64.22% of the company’s stock.
In other news, SVP Trevor Ness sold 5,025 shares of IPG Photonics stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $170.22, for a total value of $855,355.50. Following the completion of the transaction, the senior vice president now directly owns 25,657 shares of the company’s stock, valued at approximately $4,367,334.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Thomas J. Burgomaster sold 621 shares of IPG Photonics stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $145.75, for a total value of $90,510.75. Following the completion of the transaction, the chief accounting officer now directly owns 7,577 shares of the company’s stock, valued at $1,104,347.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,274 shares of company stock valued at $4,335,153. Corporate insiders own 33.90% of the company’s stock.
IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $1.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by ($0.07). IPG Photonics had a return on equity of 16.09% and a net margin of 24.94%. The company had revenue of $363.80 million for the quarter, compared to analyst estimates of $352.31 million. During the same period in the previous year, the firm posted $2.21 earnings per share. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. On average, equities analysts predict that IPG Photonics Co. will post 5.49 EPS for the current year.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. DA Davidson raised their target price on Apple to $270.00 and gave the company a “buy” rating in a report on Wednesday. Cascend Securities reaffirmed a “buy” rating and issued a $200.00 target price (up previously from $180.00) on shares of IPG Photonics in a report on Wednesday, May 1st. Needham & Company LLC raised their target price on Okta to $154.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Raymond James downgraded Eagle Materials from an “outperform” rating to a “market perform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $180.40.
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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