Chicago Partners Investment Group LLC acquired a new stake in IPG Photonics Corporation (NASDAQ:IPGP) during the second quarter, Holdings Channel reports. The fund acquired 1,275 shares of the semiconductor company’s stock, valued at approximately $152,000.

Other institutional investors have also bought and sold shares of the company. Eagle Ridge Investment Management boosted its position in IPG Photonics Corporation by 2.3% in the second quarter. Eagle Ridge Investment Management now owns 52,566 shares of the semiconductor company’s stock valued at $7,627,000 after buying an additional 1,166 shares in the last quarter. Texas Permanent School Fund boosted its position in IPG Photonics Corporation by 1.2% in the second quarter. Texas Permanent School Fund now owns 27,435 shares of the semiconductor company’s stock valued at $3,981,000 after buying an additional 312 shares in the last quarter. World Asset Management Inc boosted its position in IPG Photonics Corporation by 5.1% in the second quarter. World Asset Management Inc now owns 2,683 shares of the semiconductor company’s stock valued at $389,000 after buying an additional 131 shares in the last quarter. CIBC Asset Management Inc acquired a new position in IPG Photonics Corporation during the second quarter valued at $240,000. Finally, Great West Life Assurance Co. Can boosted its position in IPG Photonics Corporation by 255.7% in the second quarter. Great West Life Assurance Co. Can now owns 78,546 shares of the semiconductor company’s stock valued at $11,376,000 after buying an additional 56,467 shares in the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Corporation (NASDAQ IPGP) opened at 162.60 on Tuesday. IPG Photonics Corporation has a 12-month low of $80.52 and a 12-month high of $167.00. The firm has a market cap of $8.70 billion, a PE ratio of 27.23 and a beta of 1.70. The firm has a 50-day moving average price of $149.09 and a 200 day moving average price of $129.91.

IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $369.37 million during the quarter, compared to the consensus estimate of $333.06 million. During the same period in the previous year, the business earned $1.25 earnings per share. The firm’s quarterly revenue was up 46.1% on a year-over-year basis. Equities research analysts forecast that IPG Photonics Corporation will post $6.63 EPS for the current year.

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Several research firms recently weighed in on IPGP. Canaccord Genuity boosted their price objective on IPG Photonics Corporation from $152.00 to $162.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Benchmark Co. reaffirmed a “buy” rating and issued a $180.00 price target on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $182.00 price target (up previously from $160.00) on shares of IPG Photonics Corporation in a report on Tuesday, August 1st. Stifel Nicolaus upped their price target on IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a report on Friday, June 30th. Finally, Macquarie cut IPG Photonics Corporation from an “outperform” rating to a “neutral” rating and cut their price target for the company from $28.00 to $24.00 in a report on Tuesday, June 6th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $141.00.

In other news, SVP Alexander Ovtchinnikov sold 12,000 shares of IPG Photonics Corporation stock in a transaction that occurred on Thursday, August 3rd. The shares were 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 directly owns 83,595 shares in the company, valued at $13,400,278.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Valentin Gapontsev Trust I sold 23,800 shares of IPG Photonics Corporation stock in a transaction that occurred on Wednesday, May 10th. The shares were 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 of the company’s stock, valued at $1,030,999,373.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,775 shares of company stock valued at $8,227,386. 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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Institutional Ownership by Quarter for IPG Photonics Corporation (NASDAQ:IPGP)

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