IPG Photonics Corporation (IPGP) : Somerville Kurt F reduced its stake in IPG Photonics Corporation by 2.41% during the most recent quarter end. The investment management company now holds a total of 66,275 shares of IPG Photonics Corporation which is valued at $5,627,410 after selling 1,640 shares in IPG Photonics Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.IPG Photonics Corporation makes up approximately 1.23% of Somerville Kurt F’s portfolio.
Other Hedge Funds, Including , Tocqueville Asset Management added IPGP to its portfolio by purchasing 5,000 company shares during the most recent quarter which is valued at $421,450. IPG Photonics Corporation makes up approx 0.01% of Tocqueville Asset Management’s portfolio.Emerald Advisers Incpa reduced its stake in IPGP by selling 5,448 shares or 2.86% in the most recent quarter. The Hedge Fund company now holds 185,191 shares of IPGP which is valued at $15,609,749. IPG Photonics Corporation makes up approx 0.71% of Emerald Advisers Incpa’s portfolio.First Quadrant L Pca reduced its stake in IPGP by selling 29,800 shares or 59.48% in the most recent quarter. The Hedge Fund company now holds 20,300 shares of IPGP which is valued at $1,707,230. IPG Photonics Corporation makes up approx 0.04% of First Quadrant L Pca’s portfolio.Mai Capital Management reduced its stake in IPGP by selling 200 shares or 2.37% in the most recent quarter. The Hedge Fund company now holds 8,245 shares of IPGP which is valued at $675,348. IPG Photonics Corporation makes up approx 0.05% of Mai Capital Management’s portfolio.
IPG Photonics Corporation opened for trading at $85.09 and hit $86.02 on the upside on Monday, eventually ending the session at $85.85, with a gain of 0.88% or 0.75 points. The heightened volatility saw the trading volume jump to 1,59,908 shares. Company has a market cap of $4,563 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 .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 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.