Eagle Ridge Investment Management buys $4,697,521 stake in IPG Photonics Corporation (IPGP)

IPG Photonics Corporation (IPGP) : Eagle Ridge Investment Management scooped up 730 additional shares in IPG Photonics Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 47,235 shares of IPG Photonics Corporation which is valued at $4,697,521.IPG Photonics Corporation makes up approximately 1.08% of Eagle Ridge Investment Management’s portfolio.

IPG Photonics Corporation opened for trading at $100.28 and hit $102.9 on the upside on Wednesday, eventually ending the session at $102.69, with a gain of 1.65% or 1.67 points. The heightened volatility saw the trading volume jump to 6,63,197 shares. Company has a market cap of $5,431 M.

Other Hedge Funds, Including , First Quadrant L Pca added IPGP to its portfolio by purchasing 50,100 company shares during the most recent quarter which is valued at $4,982,445. IPG Photonics Corporation makes up approx 0.11% of First Quadrant L Pca’s portfolio. Joel Isaacson sold out all of its stake in IPGP during the most recent quarter. The investment firm sold 27 shares of IPGP which is valued $2,685. Highland Capital Management added IPGP to its portfolio by purchasing 10,258 company shares during the most recent quarter which is valued at $986,204. IPG Photonics Corporation makes up approx 0.08% of Highland Capital Management’s portfolio.Independent Portfolio Consultants reduced its stake in IPGP by selling 105 shares or 25.93% in the most recent quarter. The Hedge Fund company now holds 300 shares of IPGP which is valued at $28,842. IPG Photonics Corporation makes up approx 0.01% of Independent Portfolio Consultants’s portfolio.

On the company’s financial health, IPG Photonics Corporation reported $1.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 12, 2016. Analyst had a consensus of $1.11. The company had revenue of $223.60 million for the quarter, compared to analysts expectations of $223.54 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS.

Many Wall Street Analysts have commented on IPG Photonics Corporation. IPG Photonics Corporation was Initiated by Raymond James to “Mkt Perform” on Apr 15, 2016.

IPG Photonics Corporation is a developer and manufacturer of a range of fiber lasers fiber amplifiers and diode lasers that are used for various applications primarily in materials processing. The Company offers a line of lasers and amplifiers which are used in materials processing advanced communications and medical applications. The Company sells its products globally to original equipment manufacturers (OEMs) system integrators and end users and markets its products internationally through direct sales force. It designs and manufactures packaged diodes direct diode lasers laser systems communications systems and materials processing laser systems that utilize its optical fiber-based products as well as other laser sources. It also manufactures complementary products used with its lasers including optical delivery cables fiber couplers beam switches optical processing heads and chillers.

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