Waddell & Reed Financial Inc. Buys Shares of 265,013 IPG Photonics Co. (IPGP)

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Waddell & Reed Financial Inc. bought a new position in IPG Photonics Co. (NASDAQ:IPGP) during the second quarter, HoldingsChannel reports. The firm bought 265,013 shares of the semiconductor company’s stock, valued at approximately $58,469,000.

Several other institutional investors and hedge funds have also bought and sold shares of IPGP. Centaurus Financial Inc. purchased a new stake in IPG Photonics in the 2nd quarter valued at about $177,000. grace capital purchased a new stake in IPG Photonics in the 2nd quarter valued at about $375,000. Flagship Harbor Advisors LLC purchased a new stake in IPG Photonics in the 2nd quarter valued at about $187,000. Dynamic Technology Lab Private Ltd increased its stake in IPG Photonics by 94.7% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,800 shares of the semiconductor company’s stock valued at $838,000 after buying an additional 1,848 shares during the last quarter. Finally, Raymond James & Associates increased its stake in IPG Photonics by 55.9% in the 2nd quarter. Raymond James & Associates now owns 38,688 shares of the semiconductor company’s stock valued at $8,536,000 after buying an additional 13,870 shares during the last quarter. Institutional investors own 58.36% of the company’s stock.

Shares of IPGP stock opened at $159.41 on Friday. The company has a quick ratio of 6.94, a current ratio of 8.73 and a debt-to-equity ratio of 0.02. IPG Photonics Co. has a 12-month low of $153.37 and a 12-month high of $264.11. The company has a market cap of $8.46 billion, a PE ratio of 19.34, a P/E/G ratio of 1.64 and a beta of 1.78.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, July 31st. The semiconductor company reported $2.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by ($0.01). IPG Photonics had a return on equity of 21.55% and a net margin of 25.96%. The company had revenue of $413.61 million for the quarter, compared to analysts’ expectations of $418.61 million. During the same quarter in the previous year, the business earned $1.91 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. equities analysts forecast that IPG Photonics Co. will post 8.02 earnings per share for the current fiscal year.

Several equities research analysts have commented on the stock. Northcoast Research reiterated a “buy” rating and issued a $208.00 price objective on shares of IPG Photonics in a research note on Thursday, August 2nd. Stifel Nicolaus decreased their price objective on shares of IPG Photonics from $282.00 to $228.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Needham & Company LLC decreased their price objective on shares of IPG Photonics from $280.00 to $215.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. BidaskClub lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Zacks Investment Research upgraded shares of IPG Photonics from a “hold” rating to a “buy” rating and set a $274.00 price objective for the company in a research note on Wednesday, May 23rd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. IPG Photonics currently has an average rating of “Hold” and a consensus price target of $242.00.

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.

Further Reading: NASDAQ Stock Market Explained

Want to see what other hedge funds are holding IPGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IPG Photonics Co. (NASDAQ:IPGP).

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

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