IPG Photonics Corporation (NASDAQ:IPGP) Shares Sold by New Amsterdam Partners LLC NY

New Amsterdam Partners LLC NY decreased its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 11.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 38,262 shares of the semiconductor company’s stock after selling 5,150 shares during the period. New Amsterdam Partners LLC NY owned 0.07% of IPG Photonics Corporation worth $5,552,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position in IPG Photonics Corporation by 3,188.5% in the first quarter. Huntington National Bank now owns 855 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 829 shares during the last quarter. Flinton Capital Management LLC boosted its position in IPG Photonics Corporation by 3.3% in the first quarter. Flinton Capital Management LLC now owns 1,008 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 32 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its position in IPG Photonics Corporation by 13.9% in the first quarter. YorkBridge Wealth Partners LLC now owns 895 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 109 shares during the last quarter. Denali Advisors LLC bought a new position in IPG Photonics Corporation during the second quarter valued at approximately $145,000. Finally, Chicago Partners Investment Group LLC bought a new position in IPG Photonics Corporation during the second quarter valued at approximately $152,000. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

IPG Photonics Corporation (NASDAQ IPGP) opened at 163.93 on Friday. IPG Photonics Corporation has a 52 week low of $80.52 and a 52 week high of $168.93. The stock has a 50 day moving average of $153.92 and a 200 day moving average of $132.82. The firm has a market cap of $8.82 billion, a PE ratio of 27.45 and a beta of 1.70.

IPG Photonics Corporation (NASDAQ:IPGP) last released its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The company had revenue of $369.37 million for the quarter, compared to the consensus estimate of $333.06 million. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up 46.1% compared to the same quarter last year. Analysts anticipate that IPG Photonics Corporation will post $6.62 EPS for the current year.

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Several research firms have commented on IPGP. Canaccord Genuity cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, July 18th. Benchmark Co. reissued a “buy” rating and set a $180.00 target price on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Longbow Research raised shares of IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Tuesday, June 6th. Stifel Nicolaus raised their target price on shares of IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, June 30th. Finally, Dougherty & Co raised their target price on shares of IPG Photonics Corporation from $137.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $141.00.

In other IPG Photonics Corporation news, SVP Angelo P. Lopresti sold 11,750 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $163.33, for a total transaction of $1,919,127.50. Following the transaction, the senior vice president now directly owns 49,515 shares in the company, valued at approximately $8,087,284.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Timothy Pv Mammen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $162.87, for a total transaction of $1,628,700.00. Following the transaction, the chief financial officer now owns 41,100 shares in the company, valued at $6,693,957. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,099 shares of company stock worth $7,914,306. Corporate insiders own 34.20% of the company’s stock.

About IPG Photonics Corporation

IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.

Institutional Ownership by Quarter for IPG Photonics Corporation (NASDAQ:IPGP)

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