IPG Photonics Corporation (IPGP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 591,901 shares of the semiconductor company’s stock after selling 34,462 shares during the period. Victory Capital Management Inc. owned approximately 1.11% of IPG Photonics Corporation worth $71,443,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Virginia Retirement Systems ET AL bought a new position in shares of IPG Photonics Corporation during the third quarter valued at approximately $1,523,000. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of IPG Photonics Corporation by 32.9% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 10,075 shares of the semiconductor company’s stock valued at $830,000 after buying an additional 2,495 shares during the last quarter. Princeton Capital Management Inc. increased its position in shares of IPG Photonics Corporation by 11.4% in the third quarter. Princeton Capital Management Inc. now owns 19,635 shares of the semiconductor company’s stock valued at $1,617,000 after buying an additional 2,010 shares during the last quarter. Pictet North America Advisors SA increased its position in shares of IPG Photonics Corporation by 1.4% in the third quarter. Pictet North America Advisors SA now owns 11,763 shares of the semiconductor company’s stock valued at $969,000 after buying an additional 160 shares during the last quarter. Finally, Provident Investment Management Inc. increased its position in shares of IPG Photonics Corporation by 3.5% in the third quarter. Provident Investment Management Inc. now owns 237,453 shares of the semiconductor company’s stock valued at $19,554,000 after buying an additional 8,089 shares during the last quarter. 60.54% of the stock is owned by institutional investors and hedge funds.

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

IPG Photonics Corporation (IPGP) traded up 1.31% during midday trading on Friday, reaching $140.27. 581,841 shares of the company’s stock were exchanged. IPG Photonics Corporation has a 12-month low of $76.22 and a 12-month high of $146.49. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 26.42 and a beta of 1.68. The firm has a 50-day moving average price of $138.14 and a 200 day moving average price of $118.06.

IPG Photonics Corporation (NASDAQ:IPGP) last released its earnings results on Tuesday, May 2nd. The semiconductor company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.19. The firm had revenue of $285.80 million for the quarter, compared to the consensus estimate of $253.97 million. IPG Photonics Corporation had a net margin of 26.31% and a return on equity of 18.56%. The company’s revenue was up 37.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. On average, analysts expect that IPG Photonics Corporation will post $5.95 EPS for the current fiscal year.

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Several equities analysts have recently issued reports on IPGP shares. Zacks Investment Research downgraded shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research note on Monday, February 27th. Canaccord Genuity reaffirmed a “buy” rating on shares of IPG Photonics Corporation in a research note on Tuesday, March 7th. Dougherty & Co raised their price target 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. Needham & Company LLC reaffirmed a “buy” rating and set a $146.00 price target (up previously from $130.00) on shares of IPG Photonics Corporation in a research note on Wednesday, May 3rd. Finally, Longbow Research raised shares of IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 price target for the company in a research note on Tuesday, June 6th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $127.88.

In other IPG Photonics Corporation news, SVP Angelo P. Lopresti sold 4,626 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $138.00, for a total transaction of $638,388.00. Following the sale, the senior vice president now owns 37,765 shares in the company, valued at approximately $5,211,570. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $140.00, for a total transaction of $28,000.00. Following the sale, the insider now owns 7,621,799 shares in the company, valued at approximately $1,067,051,860. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock worth $4,291,956 over the last three months. 34.20% of the stock is currently owned by insiders.

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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