IPG Photonics Corporation (IPGP) : Black Creek Investment Management added new position in IPG Photonics Corporation during the most recent quarter end. The investment management firm now holds 180,600 shares of IPG Photonics Corporation which is valued at $15,369,060 , the company said in a statement filed on Aug 12, 2016 with the SEC.IPG Photonics Corporation makes up approximately 1.33% of Black Creek Investment Management’s portfolio.
Other Hedge Funds, Including , Motley Fool Wealth Management boosted its stake in IPGP in the latest quarter, The investment management firm added 1,843 additional shares and now holds a total of 162,896 shares of IPG Photonics Corporation which is valued at $13,862,450. IPG Photonics Corporation makes up approx 1.45% of Motley Fool Wealth Management’s portfolio.Johnson Investment Counsel Inc reduced its stake in IPGP by selling 2,975 shares or 7.35% in the most recent quarter. The Hedge Fund company now holds 37,510 shares of IPGP which is valued at $3,192,101. IPG Photonics Corporation makes up approx 0.10% of Johnson Investment Counsel Inc’s portfolio.Ameritas Investment Partners boosted its stake in IPGP in the latest quarter, The investment management firm added 294 additional shares and now holds a total of 5,791 shares of IPG Photonics Corporation which is valued at $492,814. IPG Photonics Corporation makes up approx 0.03% of Ameritas Investment Partners’s portfolio. Olstein Capital Management added IPGP to its portfolio by purchasing 88,795 company shares during the most recent quarter which is valued at $7,574,214. IPG Photonics Corporation makes up approx 0.97% of Olstein Capital Management’s portfolio. Spot Trading L.l.c sold out all of its stake in IPGP during the most recent quarter. The investment firm sold 20 shares of IPGP which is valued $1,665.
IPG Photonics Corporation opened for trading at $87.43 and hit $87.99 on the upside on Monday, eventually ending the session at $87.25, with a gain of 0.23% or 0.2 points. The heightened volatility saw the trading volume jump to 2,19,655 shares. Company has a market cap of $4,638 M.
On the company’s financial health, IPG Photonics Corporation reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.19. The company had revenue of $252.80 million for the quarter, compared to analysts expectations of $243.43 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 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 .
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.