Logan Capital Management Inc., an investment firm, has increased its position in IPG Photonics Co., a semiconductor company listed on the NASDAQ under the ticker symbol IPGP. According to the company’s 13F filing with the Securities & Exchange Commission, Logan Capital Management now owns 51,886 shares of IPG Photonics, representing a 9.1% increase from the previous quarter. The fund’s additional acquisition of 4,341 shares brings its total ownership to approximately 0.11% of IPG Photonics’ market value, which is estimated at $6,398,000 as of the filing date.
IPG Photonics recently announced its quarterly earnings results on August 1st. For the quarter, the company reported earnings per share (EPS) of $1.31, surpassing analysts’ consensus estimate of $1.24 by $0.07. Despite beating expectations, IPG Photonics experienced a decline in net margin and return on equity compared to the same period last year. The business generated revenue of $339.97 million for the quarter, slightly lower than analysts’ predictions of $346.78 million.
Research analysts have been closely monitoring IPG Photonics’ performance and several reports have been issued based on their findings. Recently, Citigroup downgraded its rating on IPG Photonics from “buy” to “neutral” and lowered its price target from $152.00 to $111.00 in a report released on August 18th. Additionally, StockNews.com initiated coverage on IPG Photonics with a “hold” rating on August 17th.
In contrast to Citigroup’s downgrade, Raymond James upgraded IPG Photonics from an “outperform” rating to a “strong-buy” rating and set a price objective of $170.00 for the company in a research report published on August 2nd. Benchmark also reaffirmed its “buy” rating on IPG Photonics and set a price target of $134.00 in a research report released on August 14th. Currently, the stock has an overall consensus rating of “Moderate Buy,” as reported by Bloomberg.com, with an average target price of $134.00.
Moving forward, analysts forecast that IPG Photonics Co. will post earnings per share (EPS) of $4.73 for the current fiscal year. Given the present market dynamics and analyst expectations, it will be interesting to see how IPG Photonics performs in the coming quarters and whether its stock value aligns with analyst predictions.
References:
1. Logan Capital Management Inc., holdings – 13F filing with Securities & Exchange Commission (September 10, 2023).
2. IPG Photonics’ quarterly earnings results – NASDAQ (August 1, 2023).
3. Analyst reports on IPG Photonics – Citigroup, StockNews.com, Raymond James, Benchmark (August 18-September 10, 2023).
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Ownership Changes and Insider Selling in IPG Photonics: A Comprehensive Review
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”MYRG” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]IPG Photonics, a leading semiconductor company, has seen significant changes in its ownership as various institutional investors and hedge funds have made alterations to their positions. Martingale Asset Management LP, for instance, increased its holdings in IPG Photonics by 46.1% in the fourth quarter. This move resulted in Martingale Asset Management now owning 3,655 shares of IPG Photonics’ stock with a value of $346,000 after acquiring an additional 1,154 shares in the last quarter.
Vanguard Personalized Indexing Management LLC also joined the list of investors by acquiring a new stake in IPG Photonics during the fourth quarter valued at $809,000. Similarly, HighTower Advisors LLC made an investment worth $1,490,000 during the same period. Dark Forest Capital Management LP contributed to the ownership changes by purchasing a new stake valued at $192,000 in the first quarter of this year.
Another addition to the investor group was Pinnacle Wealth Management Group Inc., which acquired a new stake worth $220,000 in IPG Photonics during the first quarter. Currently, institutional investors and hedge funds own approximately 59.07% of the stock.
In terms of insider actions within IPG Photonics, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of the company’s stock on August 24th for a total value of $846,615. Following this transaction, Valentin Gapontsev Trust I’s insider now holds 7,287,349 shares valued at $747,827,754.38.
Meanwhile, Director Eric Meurice sold 785 shares on July 31st for a total value of $103,353.10. The director currently holds 15,706 shares valued at $2,067,851.96.
Furthermore on insider actions within IPG Photonics related to Valentin Gapontsev Trust I, 8,250 shares were sold on August 24th for $102.62 each, generating a total transaction value of $846,615. After this sale, the insider’s ownership in the company stands at approximately 7,287,349 shares valued at $747,827,754.38.
It is noteworthy that over the last quarter, insiders have sold a cumulative amount of 41,111 shares of IPG Photonics’ stock with a total value of $5,204,462. As a result, insiders now own approximately 37.10% of the company’s stock.
Shares of IPG Photonics opened at $101.55 on September 10th. The stock has experienced a one-year low of $79.88 and a one-year high of $141.85. Currently trading below both its 50-day and 200-day simple moving averages at $117.09 and $118.17 respectively, IPG Photonics has a market capitalization of $4.81 billion.
With a price-to-earnings ratio of 47.68 and PEG ratio of 2.88 coupled with a beta of 1.31; investors can analyze these figures to form an informed assessment about IPG Photonics’ performance and future prospects.
In summary, IPG Photonics has witnessed notable shifts in its ownership structure due to changes made by various institutional investors and hedge funds. Furthermore, insider selling activities have depicted movement from major shareholders as well as the company director.
