Tocqueville Asset Management L.P. grew its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 5.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,250 shares of the semiconductor company’s stock after acquiring an additional 250 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in IPG Photonics were worth $1,124,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IPGP. Strs Ohio bought a new position in shares of IPG Photonics during the 4th quarter valued at approximately $101,000. MUFG Americas Holdings Corp boosted its position in shares of IPG Photonics by 122.5% during the 4th quarter. MUFG Americas Holdings Corp now owns 485 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 267 shares during the last quarter. Bollard Group LLC boosted its position in shares of IPG Photonics by 145.5% during the 4th quarter. Bollard Group LLC now owns 491 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 291 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of IPG Photonics during the 4th quarter valued at approximately $128,000. Finally, C M Bidwell & Associates Ltd. boosted its position in shares of IPG Photonics by 114.3% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 600 shares of the semiconductor company’s stock valued at $128,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.
Shares of IPG Photonics Co. (IPGP) opened at $249.28 on Monday. The stock has a market capitalization of $13,475.11, a price-to-earnings ratio of 39.19, a P/E/G ratio of 2.48 and a beta of 1.84. IPG Photonics Co. has a 52-week low of $116.80 and a 52-week high of $264.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.82 and a quick ratio of 7.27.
In other IPG Photonics news, SVP Eugene A. Shcherbakov sold 9,500 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $256.56, for a total value of $2,437,320.00. Following the sale, the senior vice president now owns 16,957 shares in the company, valued at $4,350,487.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John R. Peeler sold 2,734 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $250.80, for a total value of $685,687.20. Following the completion of the sale, the director now owns 9,738 shares in the company, valued at approximately $2,442,290.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,734 shares of company stock worth $13,626,232. Insiders own 33.80% of the company’s stock.
IPGP has been the subject of a number of research reports. Zacks Investment Research downgraded IPG Photonics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Northcoast Research restated a “buy” rating and issued a $290.00 price target on shares of IPG Photonics in a research report on Wednesday, January 31st. BidaskClub upgraded IPG Photonics from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Needham & Company LLC raised their price target on IPG Photonics from $230.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Benchmark restated a “buy” rating and issued a $255.00 price target (up from $230.00) on shares of IPG Photonics in a research report on Tuesday, February 20th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $213.60.
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IPG Photonics Profile
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
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