New Amsterdam Partners LLC NY reduced its position in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 11.9% during the second quarter, Holdings Channel reports. The firm owned 38,262 shares of the semiconductor company’s stock after selling 5,150 shares during the period. New Amsterdam Partners LLC NY’s holdings in IPG Photonics Corporation were worth $5,552,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IPGP. Huntington National Bank boosted its stake in IPG Photonics Corporation by 3,188.5% in the first quarter. Huntington National Bank now owns 855 shares of the semiconductor company’s stock worth $103,000 after buying an additional 829 shares during the last quarter. Flinton Capital Management LLC boosted its stake 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 during the last quarter. YorkBridge Wealth Partners LLC boosted its stake in IPG Photonics Corporation by 13.9% in the first quarter. YorkBridge Wealth Partners LLC now owns 895 shares of the semiconductor company’s stock worth $122,000 after buying an additional 109 shares during the last quarter. Denali Advisors LLC acquired a new stake in IPG Photonics Corporation during the second quarter worth about $145,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in IPG Photonics Corporation during the second quarter worth about $152,000. 60.23% of the stock is owned by institutional investors.

IPG Photonics Corporation (NASDAQ IPGP) opened at 163.93 on Friday. The firm’s 50-day moving average price is $153.92 and its 200-day moving average price is $132.82. IPG Photonics Corporation has a 52-week low of $80.52 and a 52-week high of $168.93. The firm has a market cap of $8.82 billion, a P/E ratio of 27.45 and a beta of 1.70.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The business had revenue of $369.37 million during the quarter, compared to the consensus estimate of $333.06 million. During the same quarter in the prior year, the company posted $1.25 earnings per share. IPG Photonics Corporation’s revenue was up 46.1% compared to the same quarter last year. Equities research analysts expect that IPG Photonics Corporation will post $6.62 EPS for the current year.

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IPGP has been the subject of a number of research reports. Needham & Company LLC increased their target price on IPG Photonics Corporation from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Canaccord Genuity reissued a “buy” rating and set a $152.00 target price (up from $138.00) on shares of IPG Photonics Corporation in a research note on Friday, June 16th. Longbow Research raised 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. Zacks Investment Research raised 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. Finally, Dougherty & Co increased their target price on IPG Photonics Corporation from $137.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $141.00.

In related news, SVP Alexander Ovtchinnikov sold 12,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.30, for a total transaction of $1,923,600.00. Following the completion of the sale, the senior vice president now owns 83,595 shares in the company, valued at $13,400,278.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Seifert sold 2,849 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $141.47, for a total value of $403,048.03. Following the sale, the director now owns 9,180 shares of the company’s stock, valued at approximately $1,298,694.60. The disclosure for this sale can be found here. Insiders have sold 50,099 shares of company stock valued at $7,914,306 in the last quarter. 34.20% of the stock is currently owned by corporate 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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