Summit Securities Group LLC purchased a new stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) during the second quarter, Holdings Channel reports. The institutional investor purchased 3,647 shares of the semiconductor company’s stock, valued at approximately $529,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. increased its stake in IPG Photonics Corporation by 12.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 153,965 shares of the semiconductor company’s stock valued at $15,197,000 after buying an additional 17,504 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of IPG Photonics Corporation by 50.8% in the fourth quarter. Macquarie Group Ltd. now owns 4,900 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 1,650 shares during the last quarter. CENTRAL TRUST Co bought a new position in shares of IPG Photonics Corporation during the first quarter valued at $217,000. Capstone Asset Management Co. boosted its position in shares of IPG Photonics Corporation by 3.7% in the first quarter. Capstone Asset Management Co. now owns 3,910 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 140 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of IPG Photonics Corporation during the first quarter valued at $308,000. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

IPG Photonics Corporation (IPGP) opened at 163.93 on Friday. The stock has a 50 day moving average price of $153.92 and a 200 day moving average price of $132.82. The company has a market cap of $8.82 billion, a PE ratio of 27.45 and a beta of 1.70. IPG Photonics Corporation has a one year low of $80.52 and a one year high of $168.93.

IPG Photonics Corporation (NASDAQ:IPGP) last posted its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same quarter in the prior year, the business posted $1.25 EPS. The firm’s revenue was up 46.1% compared to the same quarter last year. On average, equities analysts anticipate that IPG Photonics Corporation will post $6.62 EPS for the current fiscal year.

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IPGP has been the subject of several analyst reports. Zacks Investment Research upgraded IPG Photonics Corporation from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Thursday, May 4th. Dougherty & Co raised their price objective on IPG Photonics Corporation from $137.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Canaccord Genuity cut IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, July 18th. Needham & Company LLC restated a “buy” rating and issued a $146.00 price objective (up previously from $130.00) on shares of IPG Photonics Corporation in a report on Wednesday, May 3rd. Finally, Benchmark Co. restated a “buy” rating and issued a $180.00 price objective on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $141.00.

In other IPG Photonics Corporation news, Director Thomas J. Seifert sold 2,849 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $141.47, for a total value of $403,048.03. Following the completion of the sale, the director now owns 9,180 shares in the company, valued at approximately $1,298,694.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Alexander Ovtchinnikov sold 12,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were 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 of the company’s stock, valued at approximately $13,400,278.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,099 shares of company stock valued at $7,914,306. Company insiders own 34.20% of the company’s stock.

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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