BlackRock Inc. boosted its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,879 shares of the company’s stock after buying an additional 1,031 shares during the period. BlackRock Inc.’s holdings in IPG Photonics Corporation were worth $1,555,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. BlackRock Investment Management LLC increased its stake in IPG Photonics Corporation by 1.4% in the third quarter. BlackRock Investment Management LLC now owns 105,945 shares of the company’s stock valued at $8,725,000 after buying an additional 1,490 shares in the last quarter. BlackRock Advisors LLC increased its stake in IPG Photonics Corporation by 2.3% in the third quarter. BlackRock Advisors LLC now owns 20,187 shares of the company’s stock valued at $1,662,000 after buying an additional 457 shares in the last quarter. Provident Investment Management Inc. increased its stake in IPG Photonics Corporation by 3.5% in the third quarter. Provident Investment Management Inc. now owns 237,453 shares of the company’s stock valued at $19,554,000 after buying an additional 8,089 shares in the last quarter. Banque Pictet & Cie SA increased its stake in IPG Photonics Corporation by 1.4% in the third quarter. Banque Pictet & Cie SA now owns 11,763 shares of the company’s stock valued at $969,000 after buying an additional 160 shares in the last quarter. Finally, Pictet North America Advisors SA increased its stake in IPG Photonics Corporation by 1.4% in the third quarter. Pictet North America Advisors SA now owns 11,763 shares of the company’s stock valued at $969,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 59.63% of the company’s stock.

Institutional Ownership by Quarter for IPG Photonics Corporation (NASDAQ:IPGP)

Shares of IPG Photonics Corporation (NASDAQ:IPGP) opened at 100.15 on Friday. IPG Photonics Corporation has a one year low of $73.55 and a one year high of $102.90. The stock has a market cap of $5.32 billion, a P/E ratio of 21.87 and a beta of 1.95. The firm’s 50-day moving average price is $98.23 and its 200 day moving average price is $88.19.

IPG Photonics Corporation (NASDAQ:IPGP) last issued its earnings results on Thursday, October 27th. The company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.06. IPG Photonics Corporation had a return on equity of 17.73% and a net margin of 25.83%. The firm had revenue of $266 million for the quarter, compared to analysts’ expectations of $255.27 million. During the same quarter last year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities research analysts expect that IPG Photonics Corporation will post $4.71 EPS for the current fiscal year.

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Separately, Zacks Investment Research upgraded IPG Photonics Corporation from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a report on Wednesday, December 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $97.57.

In related news, SVP Angelo P. Lopresti sold 750 shares of IPG Photonics Corporation stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $94.16, for a total value of $70,620.00. Following the transaction, the senior vice president now owns 40,943 shares in the company, valued at $3,855,192.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Angelo P. Lopresti sold 5,589 shares of IPG Photonics Corporation stock in a transaction on Monday, November 7th. The shares were sold at an average price of $96.30, for a total value of $538,220.70. Following the completion of the transaction, the senior vice president now owns 41,693 shares in the company, valued at approximately $4,015,035.90. The disclosure for this sale can be found here. 34.20% of the stock is owned by corporate insiders.

About IPG Photonics Corporation

IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.

5 Day Chart for NASDAQ:IPGP

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