M&T Bank Corp Trims Position in IPG Photonics Corporation (IPGP)

M&T Bank Corp lessened its holdings in IPG Photonics Corporation (NASDAQ:IPGP) by 46.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,269 shares of the semiconductor company’s stock after selling 2,830 shares during the period. M&T Bank Corp’s holdings in IPG Photonics Corporation were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. California Public Employees Retirement System increased its position in IPG Photonics Corporation by 16.0% in the second quarter. California Public Employees Retirement System now owns 70,400 shares of the semiconductor company’s stock worth $10,215,000 after purchasing an additional 9,700 shares during the last quarter. MML Investors Services LLC bought a new stake in IPG Photonics Corporation in the second quarter worth $221,000. ETRADE Capital Management LLC bought a new stake in IPG Photonics Corporation in the second quarter worth $1,850,000. Vanguard Group Inc. increased its position in IPG Photonics Corporation by 8.8% in the second quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock worth $443,143,000 after purchasing an additional 245,876 shares during the last quarter. Finally, Northern Trust Corp increased its position in IPG Photonics Corporation by 2.1% in the second quarter. Northern Trust Corp now owns 313,529 shares of the semiconductor company’s stock worth $45,493,000 after purchasing an additional 6,419 shares during the last quarter. Institutional investors own 59.07% of the company’s stock.

IPGP has been the topic of several research reports. ValuEngine cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and issued a $170.00 price target (up previously from $165.00) on shares of IPG Photonics Corporation in a research report on Friday, September 1st. Canaccord Genuity restated a “buy” rating and issued a $152.00 price target (up previously from $138.00) on shares of IPG Photonics Corporation in a research report on Friday, June 16th. Benchmark Co. restated a “buy” rating and issued a $180.00 price target on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. Finally, Needham & Company LLC boosted 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 report on Tuesday, June 20th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $150.00.

In other news, Director William S. Hurley sold 8,167 shares of IPG Photonics Corporation stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the transaction, the director now owns 12,672 shares in the company, valued at approximately $2,096,202.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Eugene A. Shcherbakov sold 8,500 shares of IPG Photonics Corporation stock in a transaction on Monday, July 17th. The stock was sold at an average price of $154.28, for a total value of $1,311,380.00. Following the transaction, the senior vice president now owns 16,957 shares in the company, valued at approximately $2,616,125.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,017 shares of company stock worth $10,070,761. Insiders own 33.80% of the company’s stock.

IPG Photonics Corporation (NASDAQ:IPGP) opened at 192.83 on Friday. The firm’s 50-day moving average is $178.02 and its 200-day moving average is $149.59. IPG Photonics Corporation has a 52-week low of $81.00 and a 52-week high of $192.97. The company has a market cap of $10.38 billion, a PE ratio of 32.29 and a beta of 1.68.

IPG Photonics Corporation (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The business had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same quarter in the previous year, the firm earned $1.25 EPS. The company’s quarterly revenue was up 46.1% compared to the same quarter last year. On average, equities research analysts anticipate that IPG Photonics Corporation will post $6.64 EPS for the current year.

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IPG Photonics Corporation Company Profile

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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