First Interstate Bank reduced its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 24.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,250 shares of the semiconductor company’s stock after selling 400 shares during the period. First Interstate Bank’s holdings in IPG Photonics were worth $231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IPGP. OppenheimerFunds Inc. bought a new position in IPG Photonics in the 1st quarter worth approximately $254,000. Teachers Advisors LLC increased its position in IPG Photonics by 6.1% in the 1st quarter. Teachers Advisors LLC now owns 47,681 shares of the semiconductor company’s stock worth $5,755,000 after buying an additional 2,723 shares during the period. Public Employees Retirement System of Ohio increased its position in IPG Photonics by 24.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 10,648 shares of the semiconductor company’s stock worth $1,285,000 after buying an additional 2,063 shares during the period. Capstone Asset Management Co. increased its position in IPG Photonics by 4.9% in the 2nd quarter. Capstone Asset Management Co. now owns 4,100 shares of the semiconductor company’s stock worth $595,000 after buying an additional 190 shares during the period. Finally, Bank of Montreal Can increased its position in IPG Photonics by 1,655.8% in the 2nd quarter. Bank of Montreal Can now owns 10,816 shares of the semiconductor company’s stock worth $1,569,000 after buying an additional 10,200 shares during the period. 57.12% of the stock is currently owned by institutional investors.

In other IPG Photonics news, Director William S. Hurley sold 8,167 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $165.42, for a total value of $1,350,985.14. Following the sale, the director now directly owns 12,672 shares in the company, valued at $2,096,202.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $198.79, for a total value of $1,888,505.00. Following the completion of the sale, the senior vice president now owns 16,957 shares in the company, valued at $3,370,882.03. The disclosure for this sale can be found here. Corporate insiders own 33.80% of the company’s stock.

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IPG Photonics Co. (NASDAQ IPGP) traded up $3.27 on Tuesday, hitting $240.50. The stock had a trading volume of 533,600 shares, compared to its average volume of 325,920. The company has a market capitalization of $12,950.00, a PE ratio of 34.94, a PEG ratio of 1.72 and a beta of 1.67. The company has a current ratio of 9.02, a quick ratio of 7.46 and a debt-to-equity ratio of 0.02. IPG Photonics Co. has a 1-year low of $93.38 and a 1-year high of $242.65.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.32. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. The business had revenue of $392.62 million for the quarter, compared to analysts’ expectations of $367.27 million. During the same period in the previous year, the business posted $1.29 earnings per share. IPG Photonics’s quarterly revenue was up 47.6% on a year-over-year basis. analysts anticipate that IPG Photonics Co. will post 7.01 earnings per share for the current year.

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $182.00 price target (up from $160.00) on shares of IPG Photonics in a research report on Tuesday, August 1st. Benchmark Co. reaffirmed a “buy” rating and issued a $180.00 price target on shares of IPG Photonics in a research report on Wednesday, August 2nd. Canaccord Genuity lifted their price target on IPG Photonics from $152.00 to $162.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. DA Davidson lifted their price target on IPG Photonics to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, ValuEngine downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. IPG Photonics presently has a consensus rating of “Buy” and an average target price of $180.33.

IPG Photonics 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 (NASDAQ:IPGP)

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