Sandler Capital Management grew its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 60.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,900 shares of the semiconductor company’s stock after buying an additional 7,900 shares during the quarter. Sandler Capital Management’s holdings in IPG Photonics were worth $4,878,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of IPGP. Strs Ohio purchased a new stake in shares of IPG Photonics during the fourth quarter valued at approximately $101,000. Aperio Group LLC grew its holdings in shares of IPG Photonics by 46.7% during the fourth quarter. Aperio Group LLC now owns 11,353 shares of the semiconductor company’s stock valued at $2,431,000 after buying an additional 3,613 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of IPG Photonics by 3.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 7,529 shares of the semiconductor company’s stock valued at $1,612,000 after buying an additional 228 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of IPG Photonics by 15.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 5,392 shares of the semiconductor company’s stock valued at $1,155,000 after buying an additional 735 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of IPG Photonics by 229.0% during the fourth quarter. Teacher Retirement System of Texas now owns 10,236 shares of the semiconductor company’s stock valued at $2,192,000 after buying an additional 7,125 shares during the last quarter. Hedge funds and other institutional investors own 57.76% of the company’s stock.
IPGP stock traded down $2.89 on Friday, hitting $238.27. The company had a trading volume of 57,584 shares, compared to its average volume of 270,559. IPG Photonics Co. has a 12-month low of $136.62 and a 12-month high of $264.11. The company has a current ratio of 9.54, a quick ratio of 7.71 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $12.96 billion, a P/E ratio of 32.82, a P/E/G ratio of 2.37 and a beta of 1.91.
In other IPG Photonics news, SVP Trevor Ness sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $250.44, for a total value of $1,502,640.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 20,000 shares of the stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $233.73, for a total transaction of $4,674,600.00. The disclosure for this sale can be found here. Insiders sold 43,255 shares of company stock worth $10,528,512 in the last 90 days. 33.80% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently commented on IPGP shares. Sanford C. Bernstein started coverage on shares of IPG Photonics in a report on Wednesday, April 18th. They set an “outperform” rating and a $294.00 price target on the stock. BidaskClub cut shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 26th. ValuEngine upgraded shares of IPG Photonics from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Canaccord Genuity reiterated a “hold” rating and set a $235.00 price target on shares of IPG Photonics in a report on Tuesday, May 1st. Finally, Benchmark reiterated a “buy” rating and set a $255.00 price target (up previously from $230.00) on shares of IPG Photonics in a report on Tuesday, February 20th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. IPG Photonics currently has an average rating of “Buy” and a consensus price target of $274.00.
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 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.
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