Rockefeller Financial Services Inc. trimmed its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 2.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 170,690 shares of the semiconductor company’s stock after selling 4,240 shares during the quarter. Rockefeller Financial Services Inc. owned 0.32% of IPG Photonics Corporation worth $31,588,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Stifel Financial Corp increased its stake in IPG Photonics Corporation by 0.4% during the 1st quarter. Stifel Financial Corp now owns 5,154 shares of the semiconductor company’s stock worth $624,000 after purchasing an additional 23 shares in the last quarter. Teacher Retirement System of Texas increased its stake in IPG Photonics Corporation by 1.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,015 shares of the semiconductor company’s stock worth $437,000 after purchasing an additional 33 shares in the last quarter. Advisory Services Network LLC increased its stake in IPG Photonics Corporation by 5.2% during the 2nd quarter. Advisory Services Network LLC now owns 1,813 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 90 shares in the last quarter. Utah Retirement Systems increased its stake in IPG Photonics Corporation by 1.6% during the 2nd quarter. Utah Retirement Systems now owns 6,540 shares of the semiconductor company’s stock worth $949,000 after purchasing an additional 100 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in IPG Photonics Corporation by 6.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,791 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 111 shares in the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Corporation (NASDAQ:IPGP) traded up 0.45% during midday trading on Monday, reaching $203.46. The company had a trading volume of 97,213 shares. The stock’s 50 day moving average is $186.57 and its 200 day moving average is $155.24. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 34.07 and a beta of 1.68. IPG Photonics Corporation has a 12-month low of $82.12 and a 12-month high of $204.29.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, beating 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%. IPG Photonics Corporation’s quarterly revenue was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Equities research analysts expect that IPG Photonics Corporation will post $6.64 earnings per share for the current year.

In other IPG Photonics Corporation news, SVP Angelo P. Lopresti sold 11,750 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $163.33, for a total value of $1,919,127.50. Following the transaction, the senior vice president now owns 49,515 shares of the company’s stock, valued at $8,087,284.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Pv Mammen sold 10,000 shares of the business’s 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 transaction, the chief financial officer now directly owns 41,100 shares in the company, valued at approximately $6,693,957. The disclosure for this sale can be found here. In the last three months, insiders sold 63,017 shares of company stock worth $10,647,886. Insiders own 33.80% of the company’s stock.

IPGP has been the subject of a number of research reports. Stifel Nicolaus increased their target price on IPG Photonics Corporation from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Friday, June 30th. Canaccord Genuity cut IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, July 18th. Needham & Company LLC reissued a “buy” rating and set a $182.00 target price (up from $160.00) on shares of IPG Photonics Corporation in a research note on Tuesday, August 1st. Benchmark Co. reissued a “buy” rating and set a $180.00 target price on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Finally, ValuEngine raised IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $162.25.

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IPG Photonics Corporation 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.

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

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