American Research & Management Co. cut its position in IPG Photonics Co. (NASDAQ:IPGP) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,795 shares of the semiconductor company’s stock after selling 125 shares during the quarter. American Research & Management Co.’s holdings in IPG Photonics were worth $1,222,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in IPGP. BlackRock Inc. boosted its position in shares of IPG Photonics by 20.3% in the 4th quarter. BlackRock Inc. now owns 2,896,731 shares of the semiconductor company’s stock valued at $648,260,000 after purchasing an additional 489,602 shares during the period. Norges Bank acquired a new stake in shares of IPG Photonics in the 4th quarter valued at about $85,485,000. FMR LLC boosted its position in shares of IPG Photonics by 342.7% in the 1st quarter. FMR LLC now owns 235,257 shares of the semiconductor company’s stock valued at $35,708,000 after purchasing an additional 182,112 shares during the period. Handelsbanken Fonder AB boosted its position in shares of IPG Photonics by 215.1% in the 4th quarter. Handelsbanken Fonder AB now owns 224,927 shares of the semiconductor company’s stock valued at $50,336,000 after purchasing an additional 153,551 shares during the period. Finally, Alliancebernstein L.P. lifted its position in IPG Photonics by 4.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,067,443 shares of the semiconductor company’s stock worth $686,463,000 after acquiring an additional 129,570 shares during the period. 63.36% of the stock is owned by hedge funds and other institutional investors.
IPGP stock traded up $4.83 during midday trading on Thursday, hitting $224.77. The stock had a trading volume of 8,436 shares, compared to its average volume of 262,841. IPG Photonics Co. has a 12-month low of $111.41 and a 12-month high of $262.55. The company’s 50-day moving average price is $216.95 and its 200 day moving average price is $211.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.09 and a quick ratio of 8.25. The firm has a market cap of $12.03 billion, a PE ratio of 111.65 and a beta of 1.48.
In other IPG Photonics news, CTO Igor Samartsev sold 500 shares of the company’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $213.04, for a total transaction of $106,520.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Pv Mammen sold 13,925 shares of IPG Photonics stock in a transaction dated Wednesday, January 20th. The shares were sold at an average price of $251.62, for a total value of $3,503,808.50. Following the completion of the transaction, the chief financial officer now directly owns 50,568 shares in the company, valued at $12,723,920.16. The disclosure for this sale can be found here. Insiders have sold 16,091 shares of company stock valued at $3,966,353 in the last ninety days. 34.00% of the stock is currently owned by company insiders.
A number of analysts have weighed in on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on IPG Photonics from $192.90 to $250.30 in a research report on Monday, December 21st. DA Davidson increased their target price on IPG Photonics from $210.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 17th. Smith Barney Citigroup increased their target price on IPG Photonics from $192.90 to $250.30 in a research note on Monday, December 21st. Zacks Investment Research downgraded IPG Photonics from a “buy” rating to a “hold” rating and set a $229.00 price objective for the company. in a research note on Tuesday, January 5th. Finally, Needham & Company LLC raised IPG Photonics from a “hold” rating to a “buy” rating and set a $280.00 price objective for the company in a research note on Tuesday, January 19th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. IPG Photonics presently has a consensus rating of “Buy” and an average price target of $230.75.
IPG Photonics Company 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 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; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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