Granahan Investment Management Inc. MA lessened its stake in IPG Photonics Corporation (NASDAQ:IPGP) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,019 shares of the semiconductor company’s stock after selling 3,137 shares during the quarter. Granahan Investment Management Inc. MA’s holdings in IPG Photonics were worth $3,890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas boosted its stake in shares of IPG Photonics by 1.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,015 shares of the semiconductor company’s stock valued at $437,000 after buying an additional 33 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of IPG Photonics by 5.2% during the 2nd quarter. Advisory Services Network LLC now owns 1,813 shares of the semiconductor company’s stock valued at $263,000 after buying an additional 90 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of IPG Photonics by 1.6% during the 2nd quarter. Utah Retirement Systems now owns 6,540 shares of the semiconductor company’s stock valued at $949,000 after buying an additional 100 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of IPG Photonics by 6.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,791 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 111 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of IPG Photonics by 2.2% during the 2nd quarter. Stifel Financial Corp now owns 5,268 shares of the semiconductor company’s stock valued at $764,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

In other IPG Photonics news, SVP Trevor Ness sold 10,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $208.17, for a total value of $2,081,700.00. Following the sale, the senior vice president now directly owns 22,906 shares of the company’s stock, valued at $4,768,342.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of the stock in a transaction on Monday, October 16th. The stock was 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 directly owns 16,957 shares in the company, valued at $3,370,882.03. The disclosure for this sale can be found here. 33.80% of the stock is owned by company insiders.

Shares of IPG Photonics Corporation (IPGP) opened at $204.98 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.46 and a current ratio of 9.02. The stock has a market capitalization of $11,079.72, a P/E ratio of 30.43, a P/E/G ratio of 1.50 and a beta of 1.70. IPG Photonics Corporation has a 52-week low of $95.04 and a 52-week high of $248.23.

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

IPGP has been the subject of several research analyst reports. DA Davidson reiterated a “buy” rating and set a $220.00 target price on shares of IPG Photonics in a research note on Tuesday, October 10th. Benchmark reissued a “buy” rating and set a $230.00 price target on shares of IPG Photonics in a research report on Wednesday, November 1st. Zacks Investment Research raised IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $240.00 price target on the stock in a research report on Friday, October 27th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target (up from $182.00) on shares of IPG Photonics in a research report on Friday, October 20th. Finally, ValuEngine lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $180.33.

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About IPG Photonics

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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