Bank of Nova Scotia Has $1.53 Million Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Bank of Nova Scotia boosted its position in IPG Photonics Co. (NASDAQ:IPGPGet Rating) by 258.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,200 shares of the semiconductor company’s stock after buying an additional 11,680 shares during the quarter. Bank of Nova Scotia’s holdings in IPG Photonics were worth $1,525,000 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 IPGP. First Eagle Investment Management LLC raised its position in IPG Photonics by 40.5% in the 1st quarter. First Eagle Investment Management LLC now owns 3,236,022 shares of the semiconductor company’s stock valued at $355,186,000 after buying an additional 933,160 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in IPG Photonics by 40.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,051,310 shares of the semiconductor company’s stock valued at $98,960,000 after buying an additional 302,102 shares during the last quarter. Federated Hermes Inc. acquired a new stake in IPG Photonics in the 1st quarter valued at approximately $30,069,000. Invesco Ltd. raised its position in IPG Photonics by 18.9% in the 1st quarter. Invesco Ltd. now owns 1,701,795 shares of the semiconductor company’s stock valued at $186,788,000 after buying an additional 270,190 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in IPG Photonics by 83.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 578,300 shares of the semiconductor company’s stock valued at $63,474,000 after buying an additional 263,356 shares during the last quarter. Institutional investors and hedge funds own 65.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com assumed coverage on IPG Photonics in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. DA Davidson decreased their price target on IPG Photonics from $150.00 to $120.00 in a research note on Wednesday, November 2nd. Raymond James upgraded IPG Photonics from an “underperform” rating to a “market perform” rating in a research note on Tuesday, November 1st. Benchmark decreased their price target on IPG Photonics from $165.00 to $130.00 in a research note on Wednesday, November 2nd. Finally, Stifel Nicolaus assumed coverage on IPG Photonics in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $110.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $134.20.

IPG Photonics Trading Down 0.0 %

Shares of NASDAQ IPGP opened at $91.48 on Friday. IPG Photonics Co. has a 12 month low of $79.88 and a 12 month high of $176.63. The stock has a 50 day moving average of $87.64 and a 200-day moving average of $94.23. The company has a market capitalization of $4.46 billion, a P/E ratio of 17.97, a P/E/G ratio of 9.30 and a beta of 1.30.

Insider Transactions at IPG Photonics

In other news, major shareholder Valentin Gapontsev Trust I sold 5,000 shares of IPG Photonics stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $85.34, for a total transaction of $426,700.00. Following the completion of the transaction, the insider now directly owns 7,394,599 shares in the company, valued at approximately $631,055,078.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 25,000 shares of company stock worth $2,229,800. 33.50% of the stock is owned by company insiders.

IPG Photonics Company Profile

(Get Rating)

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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

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