American Century Companies Inc. Sells 39,187 Shares of IPG Photonics Corporation (IPGP)

American Century Companies Inc. lessened its holdings in IPG Photonics Corporation (NASDAQ:IPGP) by 60.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,603 shares of the semiconductor company’s stock after selling 39,187 shares during the period. American Century Companies Inc.’s holdings in IPG Photonics Corporation were worth $3,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Geneva Advisors LLC purchased a new stake in shares of IPG Photonics Corporation in the second quarter valued at about $1,485,000. MAI Capital Management lifted its holdings in shares of IPG Photonics Corporation by 2.0% in the second quarter. MAI Capital Management now owns 8,420 shares of the semiconductor company’s stock valued at $1,222,000 after purchasing an additional 165 shares in the last quarter. Virginia Retirement Systems ET AL lifted its holdings in shares of IPG Photonics Corporation by 81.0% in the second quarter. Virginia Retirement Systems ET AL now owns 7,600 shares of the semiconductor company’s stock valued at $1,103,000 after purchasing an additional 3,400 shares in the last quarter. Columbus Circle Investors lifted its holdings in shares of IPG Photonics Corporation by 29.4% in the second quarter. Columbus Circle Investors now owns 56,030 shares of the semiconductor company’s stock valued at $8,130,000 after purchasing an additional 12,725 shares in the last quarter. Finally, BB&T Securities LLC lifted its holdings in shares of IPG Photonics Corporation by 13.4% in the second quarter. BB&T Securities LLC now owns 2,564 shares of the semiconductor company’s stock valued at $372,000 after purchasing an additional 302 shares in the last quarter. 59.20% of the stock is currently owned by institutional investors.

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IPG Photonics Corporation (NASDAQ IPGP) opened at 177.10 on Tuesday. The stock has a 50 day moving average of $165.30 and a 200-day moving average of $140.81. IPG Photonics Corporation has a 52-week low of $80.52 and a 52-week high of $177.51. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 29.66 and a beta of 1.64.

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. The business had revenue of $369.37 million during the quarter, compared to analysts’ expectations of $333.06 million. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The firm’s quarterly revenue was up 46.1% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. On average, analysts expect that IPG Photonics Corporation will post $6.62 EPS for the current year.

In related news, Director William S. Hurley sold 8,167 shares of the firm’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 directly owns 12,672 shares in the company, valued at $2,096,202.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Trevor Ness sold 5,000 shares of the firm’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 owns 17,906 shares of the company’s stock, valued at $2,608,725.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,017 shares of company stock valued at $10,799,211. 33.80% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on IPGP shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $170.00 price target (up previously from $165.00) on shares of IPG Photonics Corporation in a report on Friday, September 1st. Canaccord Genuity reissued a “buy” rating and issued a $152.00 price objective (up previously from $138.00) on shares of IPG Photonics Corporation in a research report on Friday, June 16th. Benchmark Co. reissued a “buy” rating and issued a $180.00 price objective on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. ValuEngine raised shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Finally, Needham & Company LLC boosted their price objective on shares of IPG Photonics Corporation from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $143.78.

IPG Photonics Corporation 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.

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

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