The Rice Hall James & Associates LLC decides to keep it stake in IPG Photonics Corp. (IPGP) to the level of $2,176,000

The Rice Hall James & Associates LLC decides to keep it stake in IPG Photonics Corp. (IPGP) to the level of $2,176,000

Rice Hall James & Associates LLC lowered its stake in IPG Photonics Corp. (NASDAQ:IPGP) by 13.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,204 shares of the company’s stock after selling 4,195 shares during the period. Rice Hall James & Associates LLC’s holdings in IPG Photonics Corp. were worth $2,176,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LS Investment Advisors LLC raised its position in IPG Photonics Corp. by 71.1% in the second quarter. LS Investment Advisors LLC now owns 2,212 shares of the company’s stock valued at $177,000 after buying an additional 919 shares during the period. Gardiner Nancy B acquired a new position in IPG Photonics Corp. during the first quarter valued at approximately $230,000. Virginia Retirement System acquired a new position in IPG Photonics Corp. during the first quarter valued at approximately $259,000. Nisa Investment Advisors L.L.C. acquired a new position in IPG Photonics Corp. during the first quarter valued at approximately $298,000. Finally, Invictus RG acquired a new position in IPG Photonics Corp. during the first quarter valued at approximately $299,000. 59.47% of the stock is owned by institutional investors.

IPG Photonics Corp. (NASDAQ:IPGP) traded down 0.05% during mid-day trading on Friday, hitting $84.96. 209,468 shares of the company’s stock were exchanged. IPG Photonics Corp. has a 52 week low of $70.21 and a 52 week high of $102.90. The firm has a 50 day moving average of $84.05 and a 200 day moving average of $86.19. The stock has a market capitalization of $4.52 billion, a P/E ratio of 18.96 and a beta of 2.18.

IPG Photonics Corp. (NASDAQ:IPGP) last released its earnings results on Thursday, July 28th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.06. The firm earned $252.80 million during the quarter, compared to analysts’ expectations of $243.79 million. IPG Photonics Corp. had a net margin of 25.87% and a return on equity of 18.29%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 EPS. Equities analysts forecast that IPG Photonics Corp. will post $4.62 earnings per share for the current fiscal year.

IPGP has been the topic of several recent research reports. Summit Redstone reiterated a “buy” rating on shares of IPG Photonics Corp. in a research report on Thursday, July 28th. Canaccord Genuity reiterated a “buy” rating and issued a $90.00 price objective on shares of IPG Photonics Corp. in a research report on Friday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $96.00 price objective (down from $98.00) on shares of IPG Photonics Corp. in a research report on Monday, August 1st. Zacks Investment Research upgraded shares of IPG Photonics Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Credit Agricole SA reiterated an “outperform” rating and issued a $92.00 price objective on shares of IPG Photonics Corp. in a research report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. IPG Photonics Corp. presently has a consensus rating of “Hold” and a consensus target price of $94.83.

In other IPG Photonics Corp. news, Director Catherine P. Lego purchased 3,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average price of $83.12 per share, with a total value of $249,360.00. Following the acquisition, the director now directly owns 3,012 shares of the company’s stock, valued at approximately $250,357.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. 34.20% of the stock is currently owned by company insiders.

IPG Photonics Corp. Company Profile

IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.

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