BRILLIANCE ASSET MANAGEMENT Ltd acquired a new position in IPG Photonics Corporation (NASDAQ:IPGP) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 219,344 shares of the semiconductor company’s stock, valued at approximately $31,827,000. IPG Photonics Corporation accounts for 15.9% of BRILLIANCE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 2nd biggest holding. BRILLIANCE ASSET MANAGEMENT Ltd owned 0.41% of IPG Photonics Corporation at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC purchased a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $145,000. Chicago Partners Investment Group LLC purchased a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of IPG Photonics Corporation by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock worth $200,000 after purchasing an additional 131 shares during the period. Visionary Asset Management Inc. purchased a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $209,000. Finally, Cigna Investments Inc. New purchased a new position in shares of IPG Photonics Corporation in the 2nd quarter worth about $213,000. Institutional investors own 59.08% of the company’s stock.

IPGP has been the topic of a number of research reports. ValuEngine upgraded IPG Photonics Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Stifel Nicolaus restated a “hold” rating and issued a $170.00 price objective (up from $165.00) on shares of IPG Photonics Corporation in a report on Friday, September 1st. Zacks Investment Research downgraded IPG Photonics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity downgraded IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, July 18th. 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $162.25.

In other news, Director William S. Hurley sold 8,167 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the completion of the sale, the director now owns 12,672 shares in the company, valued at approximately $2,096,202.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Alexander Ovtchinnikov sold 12,000 shares of the company’s stock in a transaction dated 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 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 have sold 63,017 shares of company stock valued at $10,647,886. 33.80% of the stock is currently owned by corporate insiders.

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Shares of IPG Photonics Corporation (IPGP) traded up 1.26% during midday trading on Friday, hitting $203.37. The company had a trading volume of 76,108 shares. IPG Photonics Corporation has a one year low of $82.12 and a one year high of $204.29. The company’s 50 day moving average is $185.81 and its 200 day moving average is $154.64. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 34.05 and a beta of 1.68.

IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.28. The company had revenue of $369.37 million during the quarter, compared to the consensus estimate of $333.06 million. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The firm’s revenue was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. Equities analysts forecast that IPG Photonics Corporation will post $6.64 earnings per share for the current fiscal year.

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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