Northwestern Mutual Investment Management Company LLC Trims Position in IPG Photonics Corporation (IPGP)

Northwestern Mutual Investment Management Company LLC lessened its stake in IPG Photonics Corporation (NASDAQ:IPGP) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,322 shares of the semiconductor company’s stock after selling 134 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in IPG Photonics Corporation were worth $506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flinton Capital Management LLC lifted its stake in shares of 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 period. Denali Advisors LLC bought a new stake in shares of IPG Photonics Corporation in the second quarter valued at about $145,000. Chicago Partners Investment Group LLC bought a new stake in shares of IPG Photonics Corporation in the second quarter valued at about $152,000. Meadow Creek Investment Management LLC lifted its stake in shares of IPG Photonics Corporation by 3.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,386 shares of the semiconductor company’s stock valued at $167,000 after buying an additional 44 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of IPG Photonics Corporation in the first quarter valued at about $182,000. Institutional investors and hedge funds own 59.20% of the company’s stock.

IPG Photonics Corporation (NASDAQ:IPGP) opened at 177.99 on Wednesday. The company has a market cap of $9.58 billion, a PE ratio of 29.80 and a beta of 1.64. IPG Photonics Corporation has a 52 week low of $80.52 and a 52 week high of $179.91. The firm’s 50-day moving average is $165.64 and its 200-day moving average is $141.08.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue was up 46.1% compared to the same quarter last year. On average, analysts expect that IPG Photonics Corporation will post $6.62 EPS for the current fiscal year.

A number of research analysts have commented on IPGP shares. Stifel Nicolaus restated a “hold” rating and set a $170.00 price target (up previously from $165.00) on shares of IPG Photonics Corporation in a research note on Friday, September 1st. Needham & Company LLC raised their price target on shares of IPG Photonics Corporation from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Macquarie cut shares of IPG Photonics Corporation from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $28.00 to $24.00 in a research note on Tuesday, June 6th. Canaccord Genuity cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, July 18th. Finally, ValuEngine upgraded shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. IPG Photonics Corporation presently has a consensus rating of “Buy” and an average price target of $143.78.

In other news, Director William S. Hurley sold 8,167 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the completion of the sale, the director now owns 12,672 shares of the company’s stock, valued at approximately $2,096,202.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Trevor Ness sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $145.69, for a total transaction of $728,450.00. Following the sale, the senior vice president now directly owns 17,906 shares of the company’s stock, valued at approximately $2,608,725.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,017 shares of company stock worth $10,799,211. Company insiders own 33.80% of the company’s stock.

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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.

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

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