Wells Fargo & Company MN increased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,760 shares of the semiconductor company’s stock after buying an additional 3,800 shares during the period. Wells Fargo & Company MN owned about 0.18% of IPG Photonics worth $20,720,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Harding Loevner LP boosted its holdings in IPG Photonics by 86.6% in the third quarter. Harding Loevner LP now owns 2,825,425 shares of the semiconductor company’s stock valued at $167,055,000 after purchasing an additional 1,311,384 shares in the last quarter. BRILLIANCE ASSET MANAGEMENT Ltd boosted its holdings in IPG Photonics by 14.2% in the fourth quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 607,405 shares of the semiconductor company’s stock valued at $130,064,000 after purchasing an additional 75,594 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in IPG Photonics by 41.6% in the third quarter. JPMorgan Chase & Co. now owns 462,817 shares of the semiconductor company’s stock valued at $85,010,000 after purchasing an additional 136,082 shares in the last quarter. Jackson Square Partners LLC acquired a new position in IPG Photonics in the third quarter valued at approximately $85,354,000. Finally, AXA boosted its holdings in IPG Photonics by 31.0% in the third quarter. AXA now owns 400,774 shares of the semiconductor company’s stock valued at $74,167,000 after purchasing an additional 94,837 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.
Shares of IPG Photonics Co. (IPGP) opened at $249.28 on Friday. The firm has a market capitalization of $13,670.00, a P/E ratio of 34.34, a PEG ratio of 2.43 and a beta of 1.84. IPG Photonics Co. has a fifty-two week low of $116.80 and a fifty-two week high of $264.11. The company has a quick ratio of 7.27, a current ratio of 8.82 and a debt-to-equity ratio of 0.02.
In related news, CFO Timothy Pv Mammen sold 12,500 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $243.41, for a total transaction of $3,042,625.00. Following the completion of the sale, the chief financial officer now directly owns 38,040 shares of the company’s stock, valued at $9,259,316.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John R. Peeler sold 2,734 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $250.80, for a total value of $685,687.20. Following the sale, the director now directly owns 9,738 shares of the company’s stock, valued at $2,442,290.40. The disclosure for this sale can be found here. Insiders sold 54,734 shares of company stock valued at $13,626,232 over the last three months. Corporate insiders own 33.80% of the company’s stock.
A number of equities analysts recently issued reports on IPGP shares. ValuEngine downgraded IPG Photonics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub downgraded IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Zacks Investment Research downgraded IPG Photonics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Needham & Company LLC upped their price target on IPG Photonics from $230.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Northcoast Research reaffirmed a “buy” rating and issued a $290.00 price target on shares of IPG Photonics in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. IPG Photonics currently has a consensus rating of “Buy” and an average target price of $213.60.
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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.
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