Swiss National Bank Sells 74,969 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Swiss National Bank trimmed its holdings in shares of IPG Photonics Co. (NASDAQ:IPGPGet Rating) by 46.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,700 shares of the semiconductor company’s stock after selling 74,969 shares during the quarter. Swiss National Bank owned 0.17% of IPG Photonics worth $8,161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC lifted its position in shares of IPG Photonics by 174.3% during the first quarter. Signaturefd LLC now owns 384 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 244 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of IPG Photonics during the second quarter worth $55,000. JJJ Advisors Inc. lifted its position in shares of IPG Photonics by 243.6% during the first quarter. JJJ Advisors Inc. now owns 694 shares of the semiconductor company’s stock worth $76,000 after purchasing an additional 492 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of IPG Photonics during the second quarter worth $90,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of IPG Photonics during the first quarter valued at $120,000. 65.21% of the stock is currently owned by institutional investors.

IPG Photonics Price Performance

IPGP opened at $89.09 on Tuesday. The business’s 50-day moving average is $87.55 and its two-hundred day moving average is $93.87. IPG Photonics Co. has a 1 year low of $79.88 and a 1 year high of $176.63. The firm has a market capitalization of $4.34 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 8.84 and a beta of 1.30.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IPGP. DA Davidson cut their price target on IPG Photonics from $150.00 to $120.00 in a research note 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 research note on Wednesday, August 3rd. Stifel Nicolaus began coverage on IPG Photonics in a research note on Wednesday, November 2nd. They set a “buy” rating and a $110.00 price target on the stock. Benchmark cut their price target on IPG Photonics from $165.00 to $130.00 in a research note on Wednesday, November 2nd. Finally, Raymond James upgraded IPG Photonics from an “underperform” rating to a “market perform” rating in a research note on Tuesday, November 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, IPG Photonics has an average rating of “Hold” and a consensus target price of $134.20.

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 dated Wednesday, August 24th. The stock was sold at an average price of $95.68, for a total value of $478,400.00. Following the transaction, the insider now owns 7,419,599 shares in the company, valued at $709,907,232.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 25,000 shares of company stock worth $2,229,800 over the last quarter. Insiders own 33.50% of the company’s stock.

IPG Photonics Profile

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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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