IPG Photonics Corporation (IPGP) Shares Bought by Janus Henderson Group PLC
Janus Henderson Group PLC raised its holdings in IPG Photonics Corporation (NASDAQ:IPGP) by 24.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 190,265 shares of the semiconductor company’s stock after buying an additional 36,876 shares during the quarter. Janus Henderson Group PLC owned 0.35% of IPG Photonics Corporation worth $27,608,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in IPG Photonics Corporation by 4.1% in the 2nd quarter. BlackRock Inc. now owns 3,078,662 shares of the semiconductor company’s stock valued at $446,714,000 after buying an additional 121,338 shares during the last quarter. Vanguard Group Inc. grew its holdings in IPG Photonics Corporation by 8.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock valued at $443,143,000 after buying an additional 245,876 shares during the last quarter. State Street Corp grew its holdings in IPG Photonics Corporation by 2.4% in the 1st quarter. State Street Corp now owns 935,410 shares of the semiconductor company’s stock valued at $112,902,000 after buying an additional 22,314 shares during the last quarter. Clearbridge Investments LLC grew its holdings in IPG Photonics Corporation by 25.6% in the 1st quarter. Clearbridge Investments LLC now owns 934,882 shares of the semiconductor company’s stock valued at $112,840,000 after buying an additional 190,514 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in IPG Photonics Corporation by 5.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock valued at $110,233,000 after buying an additional 37,918 shares during the last quarter. 59.08% of the stock is currently owned by hedge funds and other institutional investors.
IPGP has been the topic of a number of research analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $220.00 target price on shares of IPG Photonics Corporation in a report on Tuesday, October 10th. ValuEngine lowered IPG Photonics Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $170.00 price objective (up previously from $165.00) on shares of IPG Photonics Corporation in a research report on Friday, September 1st. Canaccord Genuity downgraded IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, July 18th. Finally, Benchmark Co. reiterated a “buy” rating and issued a $180.00 price objective on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. IPG Photonics Corporation presently has an average rating of “Buy” and a consensus target price of $158.75.
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In other news, SVP Alexander Ovtchinnikov sold 12,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.30, for a total value of $1,923,600.00. Following the completion of the transaction, the senior vice president now directly owns 83,595 shares in the company, valued at approximately $13,400,278.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William S. Hurley sold 8,167 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $165.42, for a total value of $1,350,985.14. Following the completion of the transaction, the director now owns 12,672 shares of the company’s stock, valued at $2,096,202.24. The disclosure for this sale can be found here. Insiders sold a total of 53,517 shares of company stock valued at $8,759,381 over the last quarter. 33.80% of the stock is owned by corporate insiders.
IPG Photonics Corporation (IPGP) opened at 200.98 on Wednesday. The company has a market cap of $10.82 billion, a P/E ratio of 33.65 and a beta of 1.68. IPG Photonics Corporation has a 12 month low of $81.90 and a 12 month high of $201.22. The firm has a 50-day moving average price of $182.69 and a 200 day moving average price of $152.80.
IPG Photonics Corporation (NASDAQ:IPGP) last released its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The firm had revenue of $369.37 million during the quarter, compared to analysts’ expectations of $333.06 million. During the same period in the prior year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 46.1% on a year-over-year basis. On average, equities analysts expect that IPG Photonics Corporation will post $6.64 earnings per share for the current year.
IPG Photonics Corporation 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.
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