BTIM Corp. reduced its position in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 37.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228,582 shares of the semiconductor company’s stock after selling 135,924 shares during the period. BTIM Corp. owned 0.43% of IPG Photonics Corporation worth $33,167,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aperio Group LLC boosted its position in IPG Photonics Corporation by 11.4% in the second quarter. Aperio Group LLC now owns 7,451 shares of the semiconductor company’s stock worth $1,081,000 after buying an additional 763 shares during the last quarter. Visionary Asset Management Inc. purchased a new position in IPG Photonics Corporation during the second quarter worth approximately $209,000. Rockefeller Financial Services Inc. boosted its position in IPG Photonics Corporation by 2.7% in the second quarter. Rockefeller Financial Services Inc. now owns 174,930 shares of the semiconductor company’s stock worth $25,382,000 after buying an additional 4,584 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in IPG Photonics Corporation by 3.2% in the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the semiconductor company’s stock worth $1,422,000 after buying an additional 300 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in IPG Photonics Corporation by 16.6% in the second quarter. LS Investment Advisors LLC now owns 3,307 shares of the semiconductor company’s stock worth $480,000 after buying an additional 472 shares during the last quarter. Institutional investors own 60.08% of the company’s stock.
IPG Photonics Corporation (NASDAQ:IPGP) traded up 0.52% on Thursday, reaching $151.87. The company had a trading volume of 50,109 shares. The company has a market capitalization of $8.15 billion, a P/E ratio of 28.61 and a beta of 1.71. IPG Photonics Corporation has a 52 week low of $80.52 and a 52 week high of $157.83. The stock’s 50-day moving average is $145.60 and its 200-day moving average is $126.13.
IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.19. The firm had revenue of $285.80 million during the quarter, compared to analyst estimates of $253.97 million. IPG Photonics Corporation had a return on equity of 18.56% and a net margin of 26.31%. IPG Photonics Corporation’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. Equities research analysts forecast that IPG Photonics Corporation will post $5.95 EPS for the current fiscal year.
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A number of research firms have recently commented on IPGP. Canaccord Genuity cut IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday. Stifel Nicolaus raised their target price on IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, June 30th. Needham & Company LLC raised their target price on IPG Photonics Corporation from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, June 20th. Macquarie cut IPG Photonics Corporation from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $28.00 to $24.00 in a research note on Tuesday, June 6th. Finally, Longbow Research upgraded IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Tuesday, June 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. IPG Photonics Corporation has an average rating of “Buy” and an average target price of $131.33.
In other IPG Photonics Corporation news, major shareholder Valentin Gapontsev Trust I sold 23,800 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $135.40, for a total transaction of $3,222,520.00. Following the completion of the sale, the insider now owns 7,614,471 shares in the company, valued at $1,030,999,373.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Angelo P. Lopresti sold 4,626 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $138.00, for a total value of $638,388.00. Following the sale, the senior vice president now owns 37,765 shares of the company’s stock, valued at approximately $5,211,570. The disclosure for this sale can be found here. Insiders sold 44,975 shares of company stock valued at $6,331,786 in the last quarter. 34.20% of the stock is owned by company insiders.
IPG Photonics Corporation Company 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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