Harding Loevner Lp Lowers stake in IPG Photonics Corporation (IPGP)

IPG Photonics Corporation (IPGP) : Harding Loevner Lp reduced its stake in IPG Photonics Corporation by 0.36% during the most recent quarter end. The investment management company now holds a total of 1,642,426 shares of IPG Photonics Corporation which is valued at $134,531,114 after selling 5,907 shares in IPG Photonics Corporation , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.IPG Photonics Corporation makes up approximately 1.01% of Harding Loevner Lp’s portfolio.

Other Hedge Funds, Including , Handelsbanken Fonder Ab boosted its stake in IPGP in the latest quarter, The investment management firm added 4,000 additional shares and now holds a total of 187,800 shares of IPG Photonics Corporation which is valued at $15,382,698. IPG Photonics Corporation makes up approx 0.61% of Handelsbanken Fonder Ab’s portfolio.Creative Planning boosted its stake in IPGP in the latest quarter, The investment management firm added 1,433 additional shares and now holds a total of 4,176 shares of IPG Photonics Corporation which is valued at $338,841.Fisher Asset Management boosted its stake in IPGP in the latest quarter, The investment management firm added 3,063 additional shares and now holds a total of 126,482 shares of IPG Photonics Corporation which is valued at $10,262,749. IPG Photonics Corporation makes up approx 0.02% of Fisher Asset Management’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in IPGP in the latest quarter, The investment management firm added 14,067 additional shares and now holds a total of 14,460 shares of IPG Photonics Corporation which is valued at $1,152,462. IPG Photonics Corporation makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

IPG Photonics Corporation opened for trading at $81.55 and hit $82.29 on the upside on Monday, eventually ending the session at $81.91, with a gain of 0.90% or 0.73 points. The heightened volatility saw the trading volume jump to 1,53,863 shares. Company has a market cap of $4,348 M.

On the company’s financial health, IPG Photonics Corporation reported $0.92 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.99. The company had revenue of $207.20 million for the quarter, compared to analysts expectations of $209.50 million. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.

Many Wall Street Analysts have commented on IPG Photonics Corporation. Company shares were Upgraded by Canaccord Genuity on Jun 29, 2016 to ” Buy”, Firm has raised the Price Target to $ 90 from a previous price target of $85 .FBR Capital Initiated IPG Photonics Corporation on May 11, 2016 to “Mkt Perform”, Price Target of the shares are set at $92.IPG Photonics Corporation was Downgraded by Credit Agricole to ” Outperform” on Apr 29, 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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