Toronto Dominion Bank lifted its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 17.6% during the second quarter, HoldingsChannel reports. The firm owned 25,330 shares of the semiconductor company’s stock after purchasing an additional 3,795 shares during the period. Toronto Dominion Bank’s holdings in IPG Photonics were worth $5,339,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. AXA S.A. increased its stake in shares of IPG Photonics by 9.3% in the second quarter. AXA S.A. now owns 480,511 shares of the semiconductor company’s stock worth $101,277,000 after purchasing an additional 40,859 shares during the period. Geode Capital Management LLC increased its stake in IPG Photonics by 4.0% during the second quarter. Geode Capital Management LLC now owns 675,089 shares of the semiconductor company’s stock valued at $141,915,000 after acquiring an additional 25,726 shares during the period. Seven Eight Capital LP bought a new position in IPG Photonics during the second quarter valued at about $251,000. Public Sector Pension Investment Board increased its stake in IPG Photonics by 66.2% during the second quarter. Public Sector Pension Investment Board now owns 5,623 shares of the semiconductor company’s stock valued at $1,185,000 after acquiring an additional 2,240 shares during the period. Finally, ProShare Advisors LLC increased its stake in IPG Photonics by 10.7% during the second quarter. ProShare Advisors LLC now owns 5,146 shares of the semiconductor company’s stock valued at $1,085,000 after acquiring an additional 498 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.
Several equities analysts recently issued reports on the company. Bank of America lowered IPG Photonics from a “buy” rating to a “neutral” rating and set a $178.00 price target on the stock. in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $205.00 price objective on shares of IPG Photonics in a report on Wednesday, August 25th. TheStreet raised IPG Photonics from a “c+” rating to a “b-” rating in a report on Friday, June 25th. Canaccord Genuity decreased their price objective on IPG Photonics from $240.00 to $192.00 and set a “hold” rating on the stock in a report on Monday, August 9th. Finally, DA Davidson decreased their price objective on IPG Photonics from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $214.96.
Shares of IPGP opened at $157.28 on Thursday. The company has a market capitalization of $8.41 billion, a P/E ratio of 38.08 and a beta of 1.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.95 and a quick ratio of 7.37. IPG Photonics Co. has a one year low of $151.27 and a one year high of $262.55. The business’s 50 day simple moving average is $167.47 and its 200-day simple moving average is $194.85.
IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, August 3rd. The semiconductor company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.10). The business had revenue of $371.66 million during the quarter, compared to analyst estimates of $380.88 million. IPG Photonics had a return on equity of 10.32% and a net margin of 16.24%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, sell-side analysts anticipate that IPG Photonics Co. will post 5.31 EPS for the current fiscal year.
IPG Photonics Company Profile
IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.
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