IPG Photonics Co. (NASDAQ:IPGP) Stock Position Reduced by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. cut its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 30.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,369 shares of the semiconductor company’s stock after selling 1,482 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in IPG Photonics were worth $458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of IPG Photonics by 77.4% during the 1st quarter. JPMorgan Chase & Co. now owns 51,443 shares of the semiconductor company’s stock worth $5,645,000 after purchasing an additional 22,446 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of IPG Photonics by 21.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,364 shares of the semiconductor company’s stock worth $370,000 after purchasing an additional 592 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of IPG Photonics by 24.7% during the 1st quarter. MetLife Investment Management LLC now owns 9,842 shares of the semiconductor company’s stock worth $1,080,000 after purchasing an additional 1,951 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of IPG Photonics by 309.6% during the 1st quarter. Panagora Asset Management Inc. now owns 8,876 shares of the semiconductor company’s stock worth $974,000 after purchasing an additional 6,709 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of IPG Photonics by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,779 shares of the semiconductor company’s stock worth $525,000 after purchasing an additional 296 shares during the last quarter. 59.07% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Stock Performance

NASDAQ:IPGP opened at $87.02 on Thursday. The company has a 50-day moving average of $98.05 and a 200-day moving average of $111.83. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 40.85, a PEG ratio of 2.58 and a beta of 1.30. IPG Photonics Co. has a 52 week low of $83.00 and a 52 week high of $141.85.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $301.40 million during the quarter, compared to the consensus estimate of $316.13 million. IPG Photonics had a net margin of 7.73% and a return on equity of 4.36%. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. Sell-side analysts forecast that IPG Photonics Co. will post 4.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of IPG Photonics from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America lowered their target price on shares of IPG Photonics from $107.00 to $93.00 in a research note on Wednesday, October 11th. Benchmark reiterated a “buy” rating and issued a $134.00 target price on shares of IPG Photonics in a research note on Monday, August 14th. Citigroup lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $152.00 to $111.00 in a research note on Friday, August 18th. Finally, Raymond James upgraded shares of IPG Photonics from an “outperform” rating to a “strong-buy” rating and set a $170.00 target price on the stock in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.57.

Insider Activity at IPG Photonics

In related news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of IPG Photonics stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $102.62, for a total transaction of $846,615.00. Following the completion of the transaction, the insider now directly owns 7,287,349 shares of the company’s stock, valued at approximately $747,827,754.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of IPG Photonics stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $102.62, for a total transaction of $846,615.00. Following the completion of the transaction, the insider now directly owns 7,287,349 shares of the company’s stock, valued at approximately $747,827,754.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Meurice sold 785 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.08, for a total transaction of $80,132.80. Following the completion of the sale, the director now owns 15,706 shares of the company’s stock, valued at approximately $1,603,268.48. The disclosure for this sale can be found here. Insiders sold 42,035 shares of company stock valued at $4,137,648 in the last ninety days. Insiders own 33.50% of the company’s stock.

About IPG Photonics

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.