IPG Photonics Co. (NASDAQ:IPGP) Shares Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its holdings in shares of IPG Photonics Co. (NASDAQ:IPGPGet Rating) by 509.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,050 shares of the semiconductor company’s stock after acquiring an additional 24,281 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of IPG Photonics worth $2,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC grew its stake in IPG Photonics by 174.3% during the 1st quarter. Signaturefd LLC now owns 384 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 244 shares in the last quarter. Truvestments Capital LLC acquired a new stake in IPG Photonics during the 2nd quarter valued at approximately $55,000. JJJ Advisors Inc. grew its stake in IPG Photonics by 243.6% during the 1st quarter. JJJ Advisors Inc. now owns 694 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 492 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of IPG Photonics in the 2nd quarter worth approximately $90,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of IPG Photonics in the 1st quarter worth approximately $120,000. 65.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 5,000 shares of IPG Photonics stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $95.68, for a total transaction of $478,400.00. Following the sale, the insider now owns 7,419,599 shares of the company’s stock, valued at approximately $709,907,232.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 25,000 shares of company stock valued at $2,229,800 in the last quarter. Corporate insiders own 33.50% of the company’s stock.

IPG Photonics Price Performance

Shares of IPG Photonics stock opened at $89.09 on Tuesday. The business’s fifty day moving average price is $87.55 and its two-hundred day moving average price is $93.87. The company has a market capitalization of $4.34 billion, a P/E ratio of 17.50, a PEG ratio of 8.84 and a beta of 1.30. IPG Photonics Co. has a 1-year low of $79.88 and a 1-year high of $176.63.

Analyst Ratings Changes

Several brokerages recently issued reports on IPGP. DA Davidson cut their price target on IPG Photonics from $150.00 to $120.00 in a report on Wednesday, November 2nd. Benchmark cut their price target on IPG Photonics from $165.00 to $130.00 in a report on Wednesday, November 2nd. Citigroup cut their price target on IPG Photonics from $157.00 to $146.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Stifel Nicolaus began coverage on IPG Photonics in a report on Wednesday, November 2nd. They issued a “buy” rating and a $110.00 price target on the stock. Finally, StockNews.com began coverage on IPG Photonics in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $134.20.

About IPG Photonics

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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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