IPG Photonics Corporation (IPGP) : Garrison Bradford Associates Inc scooped up 17,690 additional shares in IPG Photonics Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 36,990 shares of IPG Photonics Corporation which is valued at $3,079,787.IPG Photonics Corporation makes up approximately 2.90% of Garrison Bradford Associates Inc’s portfolio.
Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in IPGP in the latest quarter, The investment management firm added 710 additional shares and now holds a total of 12,381 shares of IPG Photonics Corporation which is valued at $1,030,842. IPG Photonics Corporation makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.Ibm Retirement Fund boosted its stake in IPGP in the latest quarter, The investment management firm added 84 additional shares and now holds a total of 3,568 shares of IPG Photonics Corporation which is valued at $300,711. IPG Photonics Corporation makes up approx 0.01% of Ibm Retirement Fund’s portfolio.Simplex Trading reduced its stake in IPGP by selling 2,704 shares or 76.95% in the most recent quarter. The Hedge Fund company now holds 810 shares of IPGP which is valued at $68,121. IPG Photonics Corporation makes up approx 0.01% of Simplex Trading’s portfolio. Highland Capital Management sold out all of its stake in IPGP during the most recent quarter. The investment firm sold 10,258 shares of IPGP which is valued $862,698.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 closed down -0.36 points or -0.42% at $85.3 with 2,20,266 shares getting traded on Monday. Post opening the session at $85.8, the shares hit an intraday low of $85.065 and an intraday high of $86.93 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.