South Dakota Investment Council Acquires Shares of 10,362 IPG Photonics Corporation (IPGP)

South Dakota Investment Council acquired a new position in IPG Photonics Corporation (NASDAQ:IPGP) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 10,362 shares of the semiconductor company’s stock, valued at approximately $1,918,000.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in IPG Photonics 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 purchasing an additional 121,338 shares in the last quarter. Vanguard Group Inc. increased its position in IPG Photonics by 8.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock worth $443,143,000 after purchasing an additional 245,876 shares in the last quarter. State Street Corp increased its position in IPG Photonics by 2.1% during the 2nd quarter. State Street Corp now owns 955,383 shares of the semiconductor company’s stock worth $138,633,000 after purchasing an additional 19,973 shares in the last quarter. Eagle Asset Management Inc. increased its position in IPG Photonics by 5.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock worth $110,233,000 after purchasing an additional 37,918 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its position in IPG Photonics by 6.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 502,335 shares of the semiconductor company’s stock worth $69,844,000 after purchasing an additional 28,959 shares in the last quarter. Institutional investors and hedge funds own 56.44% of the company’s stock.

A number of research firms recently issued reports on IPGP. BidaskClub downgraded shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. ValuEngine downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. DA Davidson increased their price objective on shares of IPG Photonics to $235.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Needham & Company LLC increased their price objective on shares of IPG Photonics from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of IPG Photonics in a research report on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $180.33.

In related news, SVP Eugene A. Shcherbakov sold 9,500 shares of IPG Photonics stock in a transaction dated 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 transaction, the senior vice president now directly owns 16,957 shares of the company’s stock, valued at $3,370,882.03. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 33.80% of the stock is currently owned by company insiders.

IPG Photonics Corporation (IPGP) opened at $202.98 on Wednesday. IPG Photonics Corporation has a one year low of $95.04 and a one year high of $248.23. The stock has a market capitalization of $10,766.07, a price-to-earnings ratio of 29.57, a P/E/G ratio of 1.46 and a beta of 1.70. 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 issued its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.32. The company had revenue of $392.62 million for the quarter, compared to analyst estimates of $367.27 million. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. analysts predict that IPG Photonics Corporation will post 7.01 EPS for the current fiscal year.

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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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