Clearbridge Investments LLC boosted its stake in IPG Photonics Corporation (NASDAQ:IPGP) by 25.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 934,882 shares of the semiconductor company’s stock after buying an additional 190,514 shares during the period. Clearbridge Investments LLC owned approximately 1.74% of IPG Photonics Corporation worth $112,840,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp boosted its stake in IPG Photonics Corporation by 0.4% in the first quarter. Stifel Financial Corp now owns 5,154 shares of the semiconductor company’s stock valued at $624,000 after buying an additional 23 shares in the last quarter. Flinton Capital Management LLC boosted its stake in IPG Photonics Corporation by 3.3% in the first quarter. Flinton Capital Management LLC now owns 1,008 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 32 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in IPG Photonics Corporation by 3.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,386 shares of the semiconductor company’s stock valued at $167,000 after buying an additional 44 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in IPG Photonics Corporation by 0.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,456 shares of the semiconductor company’s stock valued at $779,000 after buying an additional 49 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its stake in IPG Photonics Corporation by 3.3% in the first quarter. Glen Harbor Capital Management LLC now owns 1,764 shares of the semiconductor company’s stock valued at $213,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 59.99% of the company’s stock.

Shares of IPG Photonics Corporation (NASDAQ IPGP) traded up 0.80% during trading on Monday, hitting $148.01. 259,308 shares of the stock were exchanged. The firm has a 50 day moving average of $139.09 and a 200-day moving average of $119.10. The stock has a market cap of $7.95 billion, a PE ratio of 27.88 and a beta of 1.68. IPG Photonics Corporation has a 52-week low of $76.22 and a 52-week high of $149.29.

IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.19. The company 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%. IPG Photonics Corporation’s revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Equities research analysts anticipate that IPG Photonics Corporation will post $5.95 earnings per share for the current fiscal year.

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Several research firms have issued reports on IPGP. Longbow Research upgraded shares of IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Tuesday, June 6th. Macquarie cut shares of IPG Photonics Corporation from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $28.00 to $24.00 in a research note on Tuesday, June 6th. Needham & Company LLC increased their target price on shares of IPG Photonics Corporation from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Canaccord Genuity reiterated a “buy” rating and issued a $152.00 target price (up from $138.00) on shares of IPG Photonics Corporation in a research note on Friday, June 16th. Finally, Dougherty & Co increased their target price on shares of IPG Photonics Corporation from $137.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $129.63.

In other IPG Photonics Corporation news, major shareholder Valentin Gapontsev Trust I sold 200 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $140.00, for a total transaction of $28,000.00. Following the transaction, the insider now owns 7,621,799 shares in the company, valued at $1,067,051,860. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Seifert sold 2,849 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $141.47, for a total transaction of $403,048.03. Following the transaction, the director now owns 9,180 shares in the company, valued at approximately $1,298,694.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,475 shares of company stock worth $4,291,956. 34.20% of the stock is owned by insiders.

About IPG Photonics Corporation

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 Corporation (NASDAQ:IPGP)

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