Donald L. Hagan LLC Purchases 564 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Donald L. Hagan LLC raised its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 19.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,484 shares of the semiconductor company’s stock after acquiring an additional 564 shares during the quarter. Donald L. Hagan LLC’s holdings in IPG Photonics were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IPGP. Norges Bank bought a new position in shares of IPG Photonics in the fourth quarter valued at about $36,365,000. Evoke Wealth LLC acquired a new position in IPG Photonics in the 4th quarter valued at approximately $1,640,000. ARGA Investment Management LP bought a new position in IPG Photonics during the 4th quarter worth approximately $1,067,000. Swedbank AB acquired a new position in IPG Photonics in the first quarter valued at approximately $2,687,000. Finally, Partnership Wealth Management LLC raised its position in shares of IPG Photonics by 382.7% during the first quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock worth $1,593,000 after purchasing an additional 13,923 shares during the period. 93.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 985 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the sale, the director now owns 4,319 shares of the company’s stock, valued at approximately $367,978.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 38.00% of the stock is owned by corporate insiders.

IPG Photonics Price Performance

Shares of IPGP stock traded down $0.48 during mid-day trading on Friday, hitting $67.50. The stock had a trading volume of 164,803 shares, compared to its average volume of 264,246. IPG Photonics Co. has a 12-month low of $65.03 and a 12-month high of $111.11. The firm has a market capitalization of $3.08 billion, a P/E ratio of 17.40 and a beta of 1.01. The firm’s 50-day moving average is $81.41 and its two-hundred day moving average is $86.15.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business had revenue of $257.60 million during the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The company’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 earnings per share. Analysts expect that IPG Photonics Co. will post 1.83 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on IPGP. Stifel Nicolaus lowered their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Raymond James lowered their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Benchmark downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Citigroup reduced their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $93.40.

IPG Photonics Profile

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.