Today, Vanguard Group Inc. Raises Stake in IPG Photonics Corp. (IPGP)

Today, Vanguard Group Inc. Raises Stake in IPG Photonics Corp. (IPGP)

Vanguard Group Inc. increased its position in IPG Photonics Corp. (NASDAQ:IPGP) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,524,446 shares of the company’s stock after buying an additional 66,242 shares during the period. Vanguard Group Inc. owned approximately 4.75% of IPG Photonics Corp. worth $201,956,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in IPGP. PNC Financial Services Group Inc. increased its position in IPG Photonics Corp. by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,407 shares of the company’s stock worth $193,000 after buying an additional 57 shares in the last quarter. IBM Retirement Fund raised its position in IPG Photonics Corp. by 2.4% in the second quarter. IBM Retirement Fund now owns 3,568 shares of the company’s stock worth $285,000 after buying an additional 84 shares during the last quarter. State Treasurer State of Michigan raised its position in IPG Photonics Corp. by 0.7% in the second quarter. State Treasurer State of Michigan now owns 14,700 shares of the company’s stock worth $1,176,000 after buying an additional 100 shares during the last quarter. Retirement Systems of Alabama raised its position in IPG Photonics Corp. by 0.4% in the second quarter. Retirement Systems of Alabama now owns 47,242 shares of the company’s stock worth $3,779,000 after buying an additional 185 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in IPG Photonics Corp. by 6.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the company’s stock worth $264,000 after buying an additional 200 shares during the last quarter. Institutional investors own 59.45% of the company’s stock.

IPG Photonics Corp. (NASDAQ:IPGP) opened at 83.18 on Monday. The company’s 50-day moving average is $83.73 and its 200-day moving average is $85.81. IPG Photonics Corp. has a one year low of $70.21 and a one year high of $102.90. The firm has a market cap of $4.42 billion, a PE ratio of 18.57 and a beta of 2.18.

IPG Photonics Corp. (NASDAQ:IPGP) last posted its earnings results on Thursday, July 28th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 earnings per share. On average, analysts forecast that IPG Photonics Corp. will post $4.62 earnings per share for the current fiscal year.

Several analysts have issued reports on IPGP shares. Zacks Investment Research lowered shares of IPG Photonics Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Credit Agricole SA restated an “outperform” rating and issued a $92.00 price target on shares of IPG Photonics Corp. in a research report on Tuesday, September 13th. Canaccord Genuity restated a “buy” rating and issued a $90.00 price target on shares of IPG Photonics Corp. in a research report on Friday, July 22nd. Summit Redstone restated a “buy” rating on shares of IPG Photonics Corp. in a research report on Thursday, July 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $96.00 price target (down from $98.00) on shares of IPG Photonics Corp. in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock 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 acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average price of $83.12 per share, for a total transaction of $249,360.00. Following the acquisition, the director now directly owns 3,012 shares in the company, valued at $250,357.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 34.20% of the stock is currently owned by corporate insiders.

About IPG Photonics Corp.

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