HighTower Advisors LLC increased its position in IPG Photonics Corporation (NASDAQ:IPGP) by 34.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,193 shares of the semiconductor company’s stock after purchasing an additional 1,584 shares during the quarter. HighTower Advisors LLC’s holdings in IPG Photonics Corporation were worth $890,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in IPG Photonics Corporation by 4.1% during the second quarter. BlackRock Inc. now owns 3,078,662 shares of the semiconductor company’s stock worth $446,714,000 after buying an additional 121,338 shares during the period. Vanguard Group Inc. lifted its holdings in IPG Photonics Corporation by 8.8% during the second quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock worth $443,143,000 after buying an additional 245,876 shares during the period. State Street Corp lifted its holdings in IPG Photonics Corporation by 2.4% during the first quarter. State Street Corp now owns 935,410 shares of the semiconductor company’s stock worth $112,902,000 after buying an additional 22,314 shares during the period. Clearbridge Investments LLC lifted its holdings in IPG Photonics Corporation by 25.6% during the first quarter. Clearbridge Investments LLC now owns 934,882 shares of the semiconductor company’s stock worth $112,840,000 after buying an additional 190,514 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in IPG Photonics Corporation by 5.3% during the second quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock worth $110,233,000 after buying an additional 37,918 shares during the period. 59.07% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on IPGP. Needham & Company LLC restated a “buy” rating and set a $182.00 target price (up previously from $160.00) on shares of IPG Photonics Corporation in a report on Tuesday, August 1st. Stifel Nicolaus upped their target price on IPG Photonics Corporation from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Friday, June 30th. Canaccord Genuity upped their target price on IPG Photonics Corporation from $152.00 to $162.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Benchmark Co. restated a “buy” rating and set a $180.00 target price on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Finally, ValuEngine upgraded IPG Photonics Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. IPG Photonics Corporation currently has a consensus rating of “Buy” and a consensus price target of $158.75.

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In other news, SVP Angelo P. Lopresti sold 11,750 shares of IPG Photonics Corporation stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $163.33, for a total transaction of $1,919,127.50. Following the completion of the sale, the senior vice president now directly owns 49,515 shares of the company’s stock, valued at approximately $8,087,284.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Alexander Ovtchinnikov sold 12,000 shares of IPG Photonics Corporation stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.30, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,017 shares of company stock valued at $10,070,761. Corporate insiders own 33.80% of the company’s stock.

Shares of IPG Photonics Corporation (NASDAQ IPGP) opened at 198.10 on Friday. The stock’s 50 day moving average price is $182.25 and its 200 day moving average price is $152.34. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 33.17 and a beta of 1.68. IPG Photonics Corporation has a one year low of $81.96 and a one year high of $199.02.

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

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

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