Page Arthur B cut its position in IPG Photonics Corporation (NASDAQ:IPGP) by 3.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,945 shares of the semiconductor company’s stock after selling 150 shares during the period. Page Arthur B’s holdings in IPG Photonics Corporation were worth $572,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in IPGP. Stifel Financial Corp raised its position in IPG Photonics Corporation by 0.4% in the first quarter. Stifel Financial Corp now owns 5,154 shares of the semiconductor company’s stock worth $624,000 after buying an additional 23 shares in the last quarter. Flinton Capital Management LLC raised its position in IPG Photonics Corporation by 3.3% in the first quarter. Flinton Capital Management LLC now owns 1,008 shares of the semiconductor company’s stock worth $122,000 after buying an additional 32 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in IPG Photonics Corporation by 3.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,386 shares of the semiconductor company’s stock worth $167,000 after buying an additional 44 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in IPG Photonics Corporation by 0.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,456 shares of the semiconductor company’s stock worth $779,000 after buying an additional 49 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in IPG Photonics Corporation by 3.3% in the first quarter. Glen Harbor Capital Management LLC now owns 1,764 shares of the semiconductor company’s stock valued at $213,000 after buying an additional 56 shares during the period. 60.04% of the stock is currently owned by institutional investors.
IPG Photonics Corporation (NASDAQ:IPGP) traded up 0.51% during trading on Friday, reaching $165.90. 226,795 shares of the company’s stock were exchanged. The firm has a market cap of $8.93 billion, a P/E ratio of 27.78 and a beta of 1.70. The stock’s 50 day moving average price is $156.93 and its 200 day moving average price is $134.95. IPG Photonics Corporation has a 52-week low of $80.52 and a 52-week high of $170.39.
IPG Photonics Corporation (NASDAQ:IPGP) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The firm had revenue of $369.37 million for the quarter, compared to analysts’ expectations of $333.06 million. During the same quarter last year, the business earned $1.25 earnings per share. The business’s revenue was up 46.1% on a year-over-year basis. Equities research analysts anticipate that IPG Photonics Corporation will post $6.62 EPS for the current fiscal year.
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IPGP has been the topic of several research analyst reports. Dougherty & Co lifted their target price on shares of IPG Photonics Corporation from $137.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $146.00 target price (up previously from $130.00) on shares of IPG Photonics Corporation in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research note on Thursday, May 4th. Longbow Research raised shares of 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. Finally, Macquarie lowered shares of IPG Photonics Corporation from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Tuesday, June 6th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. IPG Photonics Corporation currently has an average rating of “Buy” and a consensus price target of $141.00.
In related news, SVP Alexander Ovtchinnikov sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.30, for a total value of $1,923,600.00. Following the completion of the sale, the senior vice president now owns 83,595 shares of the company’s stock, valued at $13,400,278.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Pv Mammen sold 11,600 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $166.98, for a total value of $1,936,968.00. Following the transaction, the chief financial officer now directly owns 42,700 shares of the company’s stock, valued at approximately $7,130,046. The disclosure for this sale can be found here. Insiders sold 61,699 shares of company stock valued at $9,851,274 in the last ninety days. 34.20% of the stock is currently owned by insiders.
About IPG Photonics Corporation
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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