Vanguard Personalized Indexing Management LLC lifted its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP – Free Report) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,352 shares of the semiconductor company’s stock after purchasing an additional 194 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in IPG Photonics were worth $436,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC purchased a new stake in IPG Photonics during the 1st quarter valued at about $39,000. Signaturefd LLC boosted its holdings in IPG Photonics by 76.9% during the 2nd quarter. Signaturefd LLC now owns 764 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 332 shares during the period. Parallel Advisors LLC boosted its holdings in IPG Photonics by 853.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,097 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 982 shares during the period. Assetmark Inc. boosted its holdings in IPG Photonics by 18.1% during the 1st quarter. Assetmark Inc. now owns 1,594 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 244 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in IPG Photonics by 686.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,613 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 1,408 shares during the period. 93.79% of the stock is currently owned by hedge funds and other institutional investors.
IPG Photonics Stock Performance
Shares of NASDAQ:IPGP opened at $85.42 on Thursday. IPG Photonics Corporation has a 52-week low of $48.59 and a 52-week high of $90.29. The firm has a market capitalization of $3.61 billion, a P/E ratio of -17.43, a P/E/G ratio of 24.41 and a beta of 0.98. The stock has a 50 day moving average price of $82.21 and a 200-day moving average price of $71.99.
Insider Activity at IPG Photonics
In other news, major shareholder Valentin Gapontsev Trust I sold 52,320 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $80.71, for a total value of $4,222,747.20. Following the completion of the transaction, the insider owned 7,073,279 shares of the company’s stock, valued at approximately $570,884,348.09. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Fibre Devices Ltd Ip sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $82.10, for a total value of $2,873,500.00. Following the completion of the sale, the insider owned 6,849,837 shares in the company, valued at $562,371,617.70. The trade was a 0.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,630 shares of company stock valued at $22,881,519 in the last three months. Corporate insiders own 39.50% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of IPG Photonics in a report on Wednesday, October 8th. Wall Street Zen raised IPG Photonics from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Sanford C. Bernstein raised IPG Photonics from a “market perform” rating to an “outperform” rating and set a $97.00 price target for the company in a research report on Thursday, August 7th. Finally, Roth Capital set a $96.00 price target on IPG Photonics and gave the company a “buy” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $78.50.
Get Our Latest Stock Report on IPGP
IPG Photonics Company Profile
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. Its 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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