M&G PLC Sells 18,992 Shares of IPG Photonics Corporation $IPGP

M&G PLC lowered its stake in IPG Photonics Corporation (NASDAQ:IPGP) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 577,449 shares of the semiconductor company’s stock after selling 18,992 shares during the quarter. M&G PLC owned about 1.36% of IPG Photonics worth $45,041,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Retirement Systems of Alabama raised its holdings in shares of IPG Photonics by 3.3% during the 3rd quarter. Retirement Systems of Alabama now owns 27,201 shares of the semiconductor company’s stock worth $2,129,000 after acquiring an additional 863 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of IPG Photonics in the third quarter valued at $356,000. Brighton Jones LLC grew its holdings in shares of IPG Photonics by 42.5% in the third quarter. Brighton Jones LLC now owns 3,624 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 1,081 shares in the last quarter. Calamos Wealth Management LLC raised its stake in IPG Photonics by 7.2% during the third quarter. Calamos Wealth Management LLC now owns 5,795 shares of the semiconductor company’s stock valued at $454,000 after purchasing an additional 388 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in IPG Photonics during the third quarter valued at $296,000. 93.79% of the stock is owned by institutional investors.

Insider Activity

In other IPG Photonics news, Director Eugene Scherbakov sold 3,048 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $85.30, for a total transaction of $259,994.40. Following the completion of the transaction, the director owned 45,162 shares in the company, valued at $3,852,318.60. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Peeler bought 2,710 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average cost of $73.58 per share, for a total transaction of $199,401.80. Following the purchase, the director owned 20,886 shares of the company’s stock, valued at approximately $1,536,791.88. The trade was a 14.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 66,458 shares of company stock worth $5,194,276 in the last ninety days. 37.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of IPG Photonics in a research note on Monday, September 21st. Needham & Company LLC lowered their price target on shares of IPG Photonics from $120.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $92.00 price target on shares of IPG Photonics in a research report on Thursday. Citigroup reduced their price objective on IPG Photonics from $137.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday. Finally, UBS Group restated a “buy” rating on shares of IPG Photonics in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, IPG Photonics has a consensus rating of “Moderate Buy” and a consensus target price of $131.33.

IPG Photonics Stock Up 8.2%

IPGP stock opened at $70.67 on Tuesday. IPG Photonics Corporation has a twelve month low of $61.59 and a twelve month high of $155.82. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 1.68 and a beta of 1.00. The firm’s fifty day simple moving average is $75.82 and its two-hundred day simple moving average is $100.48.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, November 3rd. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.12. IPG Photonics had a net margin of 3.65% and a return on equity of 3.91%. The firm had revenue of $287.50 million during the quarter, compared to analyst estimates of $283.31 million. During the same quarter last year, the business earned $0.35 EPS. The business’s revenue was up 14.6% on a year-over-year basis. As a group, equities research analysts expect that IPG Photonics Corporation will post 1.89 EPS for the current year.

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