Westpac Banking Corp purchased a new stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 33,900 shares of the semiconductor company’s stock, valued at approximately $6,274,000. Westpac Banking Corp owned 0.06% of IPG Photonics Corporation as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Denali Advisors LLC purchased a new stake in shares of IPG Photonics Corporation in the 2nd quarter worth about $145,000. Chicago Partners Investment Group LLC purchased a new stake in shares of IPG Photonics Corporation in the 2nd quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of IPG Photonics Corporation by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock worth $200,000 after purchasing an additional 131 shares during the period. Elefante Mark B purchased a new stake in shares of IPG Photonics Corporation in the 3rd quarter worth about $201,000. Finally, Fulton Bank N.A. purchased a new stake in shares of IPG Photonics Corporation in the 3rd quarter worth about $202,000. 58.94% of the stock is owned by institutional investors and hedge funds.

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In related news, CFO Timothy Pv Mammen sold 10,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $162.87, for a total value of $1,628,700.00. Following the completion of the transaction, the chief financial officer now directly owns 41,100 shares in the company, valued at approximately $6,693,957. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Angelo P. Lopresti sold 11,750 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $163.33, for a total transaction of $1,919,127.50. Following the completion of the transaction, the senior vice president now owns 49,515 shares of the company’s stock, valued at $8,087,284.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,017 shares of company stock valued at $8,724,286. 33.80% of the stock is owned by company insiders.

Several equities research analysts have recently commented on IPGP shares. Needham & Company LLC raised their target price on shares of IPG Photonics Corporation from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday. They noted that the move was a valuation call. Benchmark Co. reaffirmed a “buy” rating and issued a $230.00 target price on shares of IPG Photonics Corporation in a research report on Wednesday. ValuEngine raised shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. DA Davidson reaffirmed a “buy” rating and issued a $220.00 target price on shares of IPG Photonics Corporation in a research report on Tuesday, October 10th. Finally, Zacks Investment Research cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $180.33.

IPG Photonics Corporation (IPGP) opened at $213.86 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.97. The stock has a market cap of $11,462.68, a PE ratio of 31.50, a P/E/G ratio of 1.56 and a beta of 1.68. IPG Photonics Corporation has a 12 month low of $92.88 and a 12 month high of $219.64.

IPG Photonics Corporation (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.32. The company had revenue of $392.62 million during the quarter, compared to analyst estimates of $367.27 million. IPG Photonics Corporation had a net margin of 27.85% and a return on equity of 21.17%. IPG Photonics Corporation’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same period last year, the business earned $1.29 EPS. analysts anticipate that IPG Photonics Corporation will post 6.95 earnings per share for the current year.

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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