Arizona State Retirement System raised its stake in IPG Photonics Co. (NASDAQ:IPGP – Get Rating) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,387 shares of the semiconductor company’s stock after acquiring an additional 190 shares during the period. Arizona State Retirement System’s holdings in IPG Photonics were worth $1,140,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Cove Street Capital LLC purchased a new stake in shares of IPG Photonics in the first quarter worth $1,395,000. Signaturefd LLC grew its stake in shares of IPG Photonics by 174.3% in the first quarter. Signaturefd LLC now owns 384 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 244 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in shares of IPG Photonics by 5.1% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 38,444 shares of the semiconductor company’s stock worth $4,220,000 after acquiring an additional 1,871 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of IPG Photonics by 5.9% in the first quarter. Daiwa Securities Group Inc. now owns 2,067 shares of the semiconductor company’s stock worth $227,000 after acquiring an additional 116 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of IPG Photonics by 412.0% in the first quarter. Nisa Investment Advisors LLC now owns 2,560 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 2,060 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Citigroup raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $157.00 price objective on the stock in a research report on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, IPG Photonics currently has an average rating of “Hold” and an average target price of $173.86.
IPG Photonics Stock Up 1.0 %
IPG Photonics (NASDAQ:IPGP – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The semiconductor company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.99 by $0.32. IPG Photonics had a return on equity of 10.27% and a net margin of 18.84%. The firm had revenue of $369.98 million for the quarter, compared to the consensus estimate of $334.48 million. During the same quarter last year, the company earned $1.17 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts forecast that IPG Photonics Co. will post 4.71 earnings per share for the current year.
Insider Transactions at IPG Photonics
In related news, CFO Timothy Pv Mammen acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were purchased at an average price of $83.54 per share, with a total value of $250,620.00. Following the completion of the purchase, the chief financial officer now directly owns 53,493 shares of the company’s stock, valued at $4,468,805.22. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 33.50% of the company’s stock.
IPG Photonics Company Profile
IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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