Genesee Valley Trust Co. trimmed its position in IPG Photonics Co. (NASDAQ:IPGP) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,424 shares of the semiconductor company’s stock after selling 746 shares during the quarter. Genesee Valley Trust Co.’s holdings in IPG Photonics were worth $519,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IPGP. Harding Loevner LP raised its holdings in shares of IPG Photonics by 86.6% in the 3rd quarter. Harding Loevner LP now owns 2,825,425 shares of the semiconductor company’s stock valued at $167,055,000 after purchasing an additional 1,311,384 shares during the period. Jackson Square Partners LLC bought a new stake in shares of IPG Photonics in the 3rd quarter valued at about $85,354,000. BRILLIANCE ASSET MANAGEMENT Ltd raised its holdings in shares of IPG Photonics by 142.5% in the 3rd quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 531,811 shares of the semiconductor company’s stock valued at $98,417,000 after purchasing an additional 312,467 shares during the period. Ardevora Asset Management LLP bought a new stake in shares of IPG Photonics in the 3rd quarter valued at about $40,084,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of IPG Photonics by 41.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 462,817 shares of the semiconductor company’s stock valued at $85,010,000 after purchasing an additional 136,082 shares during the period. 56.29% of the stock is currently owned by institutional investors.

In other IPG Photonics news, CFO Timothy Pv Mammen sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $252.46, for a total transaction of $1,262,300.00. Following the transaction, the chief financial officer now owns 36,100 shares in the company, valued at approximately $9,113,806. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Igor Samartsev sold 8,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $221.59, for a total transaction of $1,772,720.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,500 shares of company stock worth $11,979,620. Insiders own 33.80% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC upped their target price on shares of IPG Photonics from $230.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Northcoast Research reissued a “buy” rating and issued a $290.00 price target on shares of IPG Photonics in a report on Wednesday, January 31st. BidaskClub raised shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. ValuEngine cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Zacks Investment Research cut shares of IPG Photonics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. IPG Photonics has a consensus rating of “Buy” and a consensus target price of $196.30.

IPG Photonics Co. (NASDAQ:IPGP) opened at $237.65 on Thursday. The firm has a market cap of $13,003.99, a PE ratio of 35.00, a price-to-earnings-growth ratio of 2.65 and a beta of 1.88. The company has a quick ratio of 7.46, a current ratio of 9.02 and a debt-to-equity ratio of 0.02. IPG Photonics Co. has a fifty-two week low of $111.51 and a fifty-two week high of $264.11.

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

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