3,525 Shares in IPG Photonics Co. (NASDAQ:IPGP) Bought by Weiss Asset Management LP

Weiss Asset Management LP bought a new position in IPG Photonics Co. (NASDAQ:IPGP – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,525 shares of the semiconductor company’s stock, valued at approximately $297,000.

Other large investors have also made changes to their positions in the company. Wipfli Financial Advisors LLC purchased a new position in IPG Photonics in the third quarter valued at about $36,000. Quadrant Capital Group LLC raised its position in IPG Photonics by 195.1% in the second quarter. Quadrant Capital Group LLC now owns 478 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 316 shares during the period. CoreCap Advisors LLC purchased a new position in IPG Photonics in the second quarter valued at about $60,000. Canada Pension Plan Investment Board purchased a new position in IPG Photonics in the first quarter valued at about $120,000. Finally, Sandy Spring Bank raised its position in IPG Photonics by 14.1% in the third quarter. Sandy Spring Bank now owns 1,635 shares of the semiconductor company’s stock valued at $138,000 after purchasing an additional 202 shares during the period. 63.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on IPGP shares. Sanford C. Bernstein raised their price objective on IPG Photonics from $100.00 to $124.00 and gave the company a “market perform” rating in a research report on Thursday, February 16th. Stifel Nicolaus raised their price objective on IPG Photonics from $110.00 to $145.00 in a research report on Wednesday, February 15th. DA Davidson reaffirmed a “buy” rating on shares of IPG Photonics in a research report on Tuesday, January 3rd. Benchmark lifted their target price on IPG Photonics from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 15th. Finally, Citigroup lifted their target price on IPG Photonics from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.80.

Insider Buying and Selling

In related news, major shareholder Valentin Gapontsev Trust I sold 16,500 shares of IPG Photonics stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $122.20, for a total value of $2,016,300.00. Following the completion of the transaction, the insider now directly owns 7,378,099 shares in the company, valued at $901,603,697.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 33.50% of the company’s stock.

IPG Photonics Stock Performance

NASDAQ:IPGP opened at $119.88 on Friday. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 60.85, a price-to-earnings-growth ratio of 5.31 and a beta of 1.23. IPG Photonics Co. has a one year low of $79.88 and a one year high of $134.81. The stock has a 50-day simple moving average of $116.50 and a 200 day simple moving average of $99.06.

IPG Photonics Profile

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IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.