Cannell Peter B & Co. Inc. Has $34.90 Million Position in IPG Photonics Co. (IPGP)

Cannell Peter B & Co. Inc. decreased its position in IPG Photonics Co. (NASDAQ:IPGP) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 188,570 shares of the semiconductor company’s stock after selling 6,280 shares during the quarter. IPG Photonics comprises about 1.2% of Cannell Peter B & Co. Inc.’s holdings, making the stock its 24th largest position. Cannell Peter B & Co. Inc. owned 0.35% of IPG Photonics worth $34,897,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Elefante Mark B acquired a new position in IPG Photonics in the 3rd quarter valued at about $201,000. Fulton Bank N.A. acquired a new position in shares of IPG Photonics during the 3rd quarter valued at about $202,000. Chicago Partners Investment Group LLC acquired a new position in shares of IPG Photonics during the 2nd quarter valued at about $152,000. Beaumont Financial Partners LLC acquired a new position in shares of IPG Photonics during the 3rd quarter valued at about $250,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of IPG Photonics by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock valued at $200,000 after acquiring an additional 131 shares during the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.

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A number of research analysts have recently commented on IPGP shares. Needham & Company LLC reaffirmed a “buy” rating and set a $182.00 price objective (up previously from $160.00) on shares of IPG Photonics in a research note on Tuesday, August 1st. Benchmark Co. reaffirmed a “buy” rating and set a $180.00 price objective on shares of IPG Photonics in a research note on Wednesday, August 2nd. Canaccord Genuity upped their price objective on shares of IPG Photonics from $152.00 to $162.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $170.00 price objective (up previously from $165.00) on shares of IPG Photonics in a research note on Friday, September 1st. Finally, ValuEngine raised shares of IPG Photonics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. IPG Photonics currently has an average rating of “Buy” and a consensus target price of $180.33.

IPG Photonics Co. (IPGP) traded up $3.27 on Tuesday, reaching $240.50. 533,600 shares of the company were exchanged, compared to its average volume of 325,920. The firm has a market cap of $12,950.00, a P/E ratio of 34.94, a PEG ratio of 1.72 and a beta of 1.67. IPG Photonics Co. has a 12-month low of $93.38 and a 12-month high of $242.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.46 and a current ratio of 9.02.

IPG Photonics (NASDAQ:IPGP) last posted 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. The firm had revenue of $392.62 million during the quarter, compared to the consensus estimate of $367.27 million. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. The company’s revenue was up 47.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. analysts expect that IPG Photonics Co. will post 7.01 EPS for the current year.

In related news, Director William S. Hurley sold 8,167 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the completion of the sale, the director now owns 12,672 shares of the company’s stock, valued at approximately $2,096,202.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 16,957 shares of the company’s stock, valued at approximately $3,370,882.03. The disclosure for this sale can be found here. 33.80% of the stock is currently owned by corporate insiders.

IPG Photonics 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.

Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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