Commonwealth Bank of Australia increased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 214.0% during the 3rd quarter, Holdings Channel reports. The firm owned 29,615 shares of the semiconductor company’s stock after purchasing an additional 20,183 shares during the period. Commonwealth Bank of Australia’s holdings in IPG Photonics were worth $3,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently made changes to their positions in IPGP. Westpac Banking Corp increased its position in IPG Photonics by 13.7% in the second quarter. Westpac Banking Corp now owns 2,445 shares of the semiconductor company’s stock worth $539,000 after buying an additional 295 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in IPG Photonics by 5.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,524 shares of the semiconductor company’s stock worth $1,219,000 after buying an additional 304 shares during the period. Piedmont Investment Advisors LLC increased its position in IPG Photonics by 6.3% in the second quarter. Piedmont Investment Advisors LLC now owns 5,381 shares of the semiconductor company’s stock worth $1,187,000 after buying an additional 317 shares during the period. Granahan Investment Management Inc. MA increased its position in IPG Photonics by 3.2% in the second quarter. Granahan Investment Management Inc. MA now owns 12,922 shares of the semiconductor company’s stock worth $2,851,000 after buying an additional 400 shares during the period. Finally, Intrust Bank NA increased its position in IPG Photonics by 10.4% in the second quarter. Intrust Bank NA now owns 4,500 shares of the semiconductor company’s stock worth $993,000 after buying an additional 424 shares during the period. Hedge funds and other institutional investors own 57.83% of the company’s stock.

In other IPG Photonics news, CAO Thomas J. Burgomaster sold 637 shares of the firm’s stock in a transaction dated Sunday, November 11th. The stock was sold at an average price of $90.85, for a total transaction of $57,871.45. Following the completion of the sale, the chief accounting officer now directly owns 6,037 shares in the company, valued at approximately $548,461.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Thomas J. Burgomaster sold 294 shares of the firm’s stock in a transaction dated Sunday, December 2nd. The stock was sold at an average price of $93.70, for a total value of $27,547.80. Following the sale, the chief accounting officer now owns 6,037 shares of the company’s stock, valued at $565,666.90. The disclosure for this sale can be found here. Insiders sold a total of 1,131 shares of company stock valued at $103,915 in the last quarter. 33.80% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on the company. DA Davidson lowered their price target on IPG Photonics to $180.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Benchmark lowered their target price on IPG Photonics from $170.00 to $162.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. ValuEngine raised IPG Photonics from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 31st. Northcoast Research reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 24th. Finally, Bank of America initiated coverage on IPG Photonics in a report on Friday, October 19th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. IPG Photonics currently has an average rating of “Hold” and a consensus price target of $219.75.

NASDAQ:IPGP opened at $138.48 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.64 and a quick ratio of 6.81. IPG Photonics Co. has a 1-year low of $107.59 and a 1-year high of $264.11. The firm has a market capitalization of $7.39 billion, a P/E ratio of 19.07, a P/E/G ratio of 2.03 and a beta of 1.77.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $1.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.85 by ($0.01). IPG Photonics had a net margin of 25.58% and a return on equity of 20.30%. The company had revenue of $356.35 million during the quarter, compared to analyst estimates of $355.48 million. During the same quarter last year, the business earned $2.11 EPS. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. Research analysts expect that IPG Photonics Co. will post 7.41 EPS for the current fiscal year.

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IPG Photonics Company Profile

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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

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