Victory Capital Management Inc. cut its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 7.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 549,951 shares of the semiconductor company’s stock after selling 41,950 shares during the period. Victory Capital Management Inc. owned approximately 1.03% of IPG Photonics Corporation worth $79,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in IPG Photonics Corporation by 50.8% in the fourth quarter. Macquarie Group Ltd. now owns 4,900 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 1,650 shares during the period. Capstone Asset Management Co. boosted its position in IPG Photonics Corporation by 3.7% in the first quarter. Capstone Asset Management Co. now owns 3,910 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 140 shares during the period. Louisiana State Employees Retirement System boosted its position in IPG Photonics Corporation by 3.3% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the semiconductor company’s stock valued at $1,147,000 after buying an additional 300 shares during the period. Huntington National Bank boosted its position in 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 during the period. Finally, Retirement Systems of Alabama boosted its position in IPG Photonics Corporation by 84.1% in the first quarter. Retirement Systems of Alabama now owns 88,365 shares of the semiconductor company’s stock valued at $10,666,000 after buying an additional 40,361 shares during the period. Institutional investors own 60.04% of the company’s stock.

Shares of IPG Photonics Corporation (NASDAQ IPGP) opened at 167.40 on Friday. IPG Photonics Corporation has a 12 month low of $80.52 and a 12 month high of $170.39. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 28.03 and a beta of 1.70. The stock has a 50 day moving average of $159.34 and a 200-day moving average of $136.80.

IPG Photonics Corporation (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.28. The company had revenue of $369.37 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 46.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, analysts forecast that IPG Photonics Corporation will post $6.62 EPS for the current year.

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IPGP has been the subject of several research analyst reports. Dougherty & Co upped their price target on shares of IPG Photonics Corporation from $137.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $146.00 price target (up previously from $130.00) on shares of IPG Photonics Corporation in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a report on Thursday, May 4th. Longbow Research upgraded shares of IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 price target for the company in a report on Tuesday, June 6th. Finally, Macquarie cut shares of IPG Photonics Corporation from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $28.00 to $24.00 in a report on Tuesday, June 6th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $141.00.

In other news, SVP Alexander Ovtchinnikov sold 12,000 shares of the stock in a transaction 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 sale, 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 at this hyperlink. Also, CFO Timothy Pv Mammen sold 10,000 shares of the stock in a transaction 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 sale, 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. Over the last ninety days, insiders sold 61,699 shares of company stock worth $9,851,274. 33.80% of the stock is owned by insiders.

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.

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

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