Janney Montgomery Scott LLC cut its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 62.8% during the second quarter, Holdings Channel reports. The institutional investor owned 7,118 shares of the semiconductor company’s stock after selling 12,020 shares during the period. Janney Montgomery Scott LLC’s holdings in IPG Photonics Corporation were worth $1,033,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Huntington National Bank increased its stake in shares of IPG Photonics Corporation by 3,188.5% in the first quarter. Huntington National Bank now owns 855 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 829 shares in the last quarter. Flinton Capital Management LLC increased its stake in shares of 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 valued at $122,000 after buying an additional 32 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of IPG Photonics Corporation by 13.9% in the first quarter. YorkBridge Wealth Partners LLC now owns 895 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 109 shares in the last quarter. Denali Advisors LLC purchased a new stake in shares of IPG Photonics Corporation during the second quarter valued at approximately $145,000. Finally, Meadow Creek Investment Management LLC increased its stake in shares of 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 valued at $167,000 after buying an additional 44 shares in the last quarter. Institutional investors own 60.23% of the company’s stock.

IPG Photonics Corporation (NASDAQ:IPGP) opened at 163.93 on Friday. The firm has a market cap of $8.82 billion, a P/E ratio of 27.45 and a beta of 1.70. The company’s 50-day moving average is $153.92 and its 200 day moving average is $132.82. IPG Photonics Corporation has a 12 month low of $80.52 and a 12 month high of $168.93.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. Equities research analysts expect that IPG Photonics Corporation will post $6.62 EPS for the current fiscal year.

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Several brokerages have recently commented on IPGP. Canaccord Genuity downgraded shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, July 18th. Benchmark Co. reiterated a “buy” rating and set a $180.00 price target on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. Longbow Research upgraded shares of IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Tuesday, June 6th. Stifel Nicolaus upped their price target on shares of IPG Photonics Corporation from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Friday, June 30th. Finally, Dougherty & Co upped their price target on shares of IPG Photonics Corporation from $137.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. IPG Photonics Corporation has an average rating of “Buy” and a consensus target price of $141.00.

In related news, SVP Alexander Ovtchinnikov sold 12,000 shares of IPG Photonics Corporation stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 83,595 shares of the company’s stock, valued at $13,400,278.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Pv Mammen sold 10,000 shares of IPG Photonics Corporation stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $162.87, for a total value of $1,628,700.00. Following the completion of the transaction, the chief financial officer now directly owns 41,100 shares in the company, valued at $6,693,957. The disclosure for this sale can be found here. Insiders have sold 50,099 shares of company stock worth $7,914,306 over the last three months. Insiders own 34.20% of the company’s stock.

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

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