FNY Investment Advisers LLC raised its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP – Free Report) by 20.3% in the second quarter, Holdings Channel reports. The institutional investor owned 2,900 shares of the semiconductor company’s stock after buying an additional 490 shares during the quarter. FNY Investment Advisers LLC’s holdings in IPG Photonics were worth $199,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Inspire Investing LLC grew its holdings in IPG Photonics by 2.8% during the 1st quarter. Inspire Investing LLC now owns 6,383 shares of the semiconductor company’s stock valued at $403,000 after buying an additional 176 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in IPG Photonics by 3.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,352 shares of the semiconductor company’s stock valued at $436,000 after buying an additional 194 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in IPG Photonics by 4.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,408 shares of the semiconductor company’s stock valued at $341,000 after buying an additional 236 shares in the last quarter. Assetmark Inc. grew 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 buying an additional 244 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of IPG Photonics by 76.9% during the second quarter. Signaturefd LLC now owns 764 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.
IPG Photonics Stock Performance
Shares of IPGP opened at $85.42 on Thursday. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -17.43, a PEG ratio of 24.41 and a beta of 0.98. IPG Photonics Corporation has a fifty-two week low of $48.59 and a fifty-two week high of $90.29. The firm has a 50 day moving average price of $82.21 and a 200-day moving average price of $71.99.
Insider Transactions at IPG Photonics
In other IPG Photonics news, major shareholder Fibre Devices Ltd Ip sold 23,966 shares of the business’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $87.92, for a total value of $2,107,090.72. Following the completion of the sale, the insider owned 6,785,670 shares in the company, valued at approximately $596,596,106.40. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 17,707 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $85.09, for a total value of $1,506,688.63. Following the completion of the sale, the insider owned 6,992,599 shares of the company’s stock, valued at $595,000,248.91. The trade was a 0.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 274,630 shares of company stock worth $22,881,519. Corporate insiders own 39.50% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on IPGP shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of IPG Photonics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of IPG Photonics from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Sanford C. Bernstein raised shares of IPG Photonics from a “market perform” rating to an “outperform” rating and set a $97.00 target price on the stock in a research note on Thursday, August 7th. Finally, Roth Capital set a $96.00 target price on shares of IPG Photonics and gave the company a “buy” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued 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.
View Our Latest Stock Analysis on IPGP
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. 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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