IPG Photonics Corporation (IPGP) : Todd Asset Management reduced its stake in IPG Photonics Corporation by 41.4% during the most recent quarter end. The investment management company now holds a total of 199,232 shares of IPG Photonics Corporation which is valued at $16,588,056 after selling 140,765 shares in IPG Photonics Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.IPG Photonics Corporation makes up approximately 0.51% of Todd Asset Management’s portfolio.
Other Hedge Funds, Including , Shelton Capital Management boosted its stake in IPGP in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 3,656 shares of IPG Photonics Corporation which is valued at $304,399. IPG Photonics Corporation makes up approx 0.03% of Shelton Capital Management’s portfolio.Msi Financial Services Inc reduced its stake in IPGP by selling 29 shares or 13.74% in the most recent quarter. The Hedge Fund company now holds 182 shares of IPGP which is valued at $15,335.Louisiana State Employees Retirement System reduced its stake in IPGP by selling 400 shares or 3.96% in the most recent quarter. The Hedge Fund company now holds 9,700 shares of IPGP which is valued at $817,322. IPG Photonics Corporation makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio.Ls Investment Advisors boosted its stake in IPGP in the latest quarter, The investment management firm added 919 additional shares and now holds a total of 2,212 shares of IPG Photonics Corporation which is valued at $186,427. IPG Photonics Corporation makes up approx 0.01% of Ls Investment Advisors’s portfolio. Juncture Wealth Strategies sold out all of its stake in IPGP during the most recent quarter. The investment firm sold 10,183 shares of IPGP which is valued $834,090.
IPG Photonics Corporation opened for trading at $83.29 and hit $83.91 on the upside on Thursday, eventually ending the session at $83.79, with a gain of 0.64% or 0.53 points. The heightened volatility saw the trading volume jump to 1,88,315 shares. Company has a market cap of $4,447 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.