Schaper Benz & Wise Investment Counsel Inc. WI raised its position in IPG Photonics Co. (NASDAQ:IPGP) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,309 shares of the semiconductor company’s stock after purchasing an additional 1,132 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI owned 0.06% of IPG Photonics worth $5,138,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IPGP. TRUE Private Wealth Advisors acquired a new stake in shares of IPG Photonics in the 2nd quarter valued at about $38,000. Manchester Capital Management LLC acquired a new stake in shares of IPG Photonics in the 1st quarter valued at about $59,000. Stephens Inc. AR raised its stake in shares of IPG Photonics by 89.4% in the 1st quarter. Stephens Inc. AR now owns 498 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 235 shares during the period. Signaturefd LLC raised its stake in shares of IPG Photonics by 322.5% in the 2nd quarter. Signaturefd LLC now owns 507 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 387 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in shares of IPG Photonics in the 1st quarter valued at about $116,000. 64.58% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Trevor Ness sold 166 shares of IPG Photonics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $165.00, for a total transaction of $27,390.00. Following the completion of the transaction, the senior vice president now owns 20,753 shares in the company, valued at $3,424,245. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Igor Samartsev sold 800 shares of IPG Photonics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $130.01, for a total value of $104,008.00. The disclosure for this sale can be found here. Insiders have sold 13,049 shares of company stock valued at $1,957,905 in the last quarter. 33.90% of the stock is currently owned by corporate insiders.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.07). IPG Photonics had a return on equity of 13.68% and a net margin of 22.23%. The business had revenue of $363.80 million for the quarter, compared to the consensus estimate of $352.31 million. During the same quarter in the previous year, the business posted $2.21 EPS. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. Research analysts forecast that IPG Photonics Co. will post 4.71 earnings per share for the current year.
Several equities analysts have recently weighed in on the company. Raymond James decreased their price objective on IPG Photonics from $204.00 to $190.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Canaccord Genuity set a $150.00 price objective on IPG Photonics and gave the company a “hold” rating in a report on Wednesday, July 31st. Susquehanna Bancshares set a $127.00 price objective on IPG Photonics and gave the company a “hold” rating in a report on Wednesday, July 31st. Needham & Company LLC set a $148.00 price objective on IPG Photonics and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, BidaskClub cut IPG Photonics from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. IPG Photonics has an average rating of “Hold” and a consensus price target of $171.67.
About IPG Photonics
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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