Weatherbie Capital buys $19,278,384 stake in IPG Photonics Corporation (IPGP)

IPG Photonics Corporation (IPGP) : Weatherbie Capital scooped up 100,399 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 11, 2016. The investment management firm now holds a total of 226,538 shares of IPG Photonics Corporation which is valued at $19,278,384.IPG Photonics Corporation makes up approximately 2.52% of Weatherbie Capital’s portfolio.

Other Hedge Funds, Including , Timessquare Capital Management reduced its stake in IPGP by selling 5,700 shares or 1.84% in the most recent quarter. The Hedge Fund company now holds 304,700 shares of IPGP which is valued at $25,929,970. IPG Photonics Corporation makes up approx 0.16% of Timessquare Capital Management’s portfolio.Blackrock Group Ltd reduced its stake in IPGP by selling 589 shares or 2.6% in the most recent quarter. The Hedge Fund company now holds 22,064 shares of IPGP which is valued at $1,877,646.Pioneer Investment Management Inc reduced its stake in IPGP by selling 40,264 shares or 11.45% in the most recent quarter. The Hedge Fund company now holds 311,280 shares of IPGP which is valued at $26,489,928. IPG Photonics Corporation makes up approx 0.09% of Pioneer Investment Management Inc’s portfolio.Icon Advisers Incco reduced its stake in IPGP by selling 5,500 shares or 5.6% in the most recent quarter. The Hedge Fund company now holds 92,800 shares of IPGP which is valued at $7,879,648. IPG Photonics Corporation makes up approx 0.52% of Icon Advisers Incco’s portfolio.Cim reduced its stake in IPGP by selling 35 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 5,100 shares of IPGP which is valued at $417,741. IPG Photonics Corporation makes up approx 0.20% of Cim’s portfolio.

IPG Photonics Corporation opened for trading at $85.19 and hit $85.75 on the upside on Tuesday, eventually ending the session at $85.37, with a gain of 0.38% or 0.32 points. The heightened volatility saw the trading volume jump to 1,72,292 shares. Company has a market cap of $4,538 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 .

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.

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