MML Investors Services LLC purchased a new position in shares of IPG Photonics Corporation (NASDAQ:IPGP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,520 shares of the semiconductor company’s stock, valued at approximately $221,000.

Several other large investors have also modified their holdings of the company. Stifel Financial Corp lifted its holdings in shares of IPG Photonics Corporation by 0.4% during the first quarter. Stifel Financial Corp now owns 5,154 shares of the semiconductor company’s stock worth $624,000 after purchasing an additional 23 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of IPG Photonics Corporation by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 3,015 shares of the semiconductor company’s stock worth $437,000 after purchasing an additional 33 shares during the period. Utah Retirement Systems lifted its holdings in shares of IPG Photonics Corporation by 1.6% during the second quarter. Utah Retirement Systems now owns 6,540 shares of the semiconductor company’s stock worth $949,000 after purchasing an additional 100 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of IPG Photonics Corporation by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 1,791 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 111 shares during the period. Finally, Garrison Financial Corp lifted its holdings in shares of IPG Photonics Corporation by 0.6% during the second quarter. Garrison Financial Corp now owns 20,840 shares of the semiconductor company’s stock worth $3,024,000 after purchasing an additional 120 shares during the period. Institutional investors own 59.07% of the company’s stock.

A number of brokerages have recently commented on IPGP. Needham & Company LLC reiterated a “buy” rating and set a $182.00 price target (up previously from $160.00) on shares of IPG Photonics Corporation in a report on Tuesday, August 1st. Stifel Nicolaus boosted their target price on shares of IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a report on Friday, June 30th. Canaccord Genuity boosted their target price on shares of IPG Photonics Corporation from $152.00 to $162.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Benchmark Co. restated a “buy” rating and issued a $180.00 target price on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. IPG Photonics Corporation has a consensus rating of “Buy” and a consensus price target of $150.00.

ILLEGAL ACTIVITY NOTICE: “MML Investors Services LLC Purchases Shares of 1,520 IPG Photonics Corporation (IPGP)” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.watchlistnews.com/mml-investors-services-llc-purchases-shares-of-1520-ipg-photonics-corporation-ipgp/1609739.html.

IPG Photonics Corporation (IPGP) opened at 189.92 on Thursday. IPG Photonics Corporation has a one year low of $81.00 and a one year high of $189.99. The stock’s 50 day moving average is $176.60 and its 200 day moving average is $148.77. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of 31.80 and a beta of 1.68.

IPG Photonics Corporation (NASDAQ:IPGP) last posted its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The firm had revenue of $369.37 million during the quarter, compared to analysts’ expectations of $333.06 million. During the same period last year, the company posted $1.25 EPS. The company’s quarterly revenue was up 46.1% compared to the same quarter last year. On average, analysts predict that IPG Photonics Corporation will post $6.64 earnings per share for the current fiscal year.

In other news, Director William S. Hurley sold 8,167 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $165.42, for a total value of $1,350,985.14. Following the completion of the sale, the director now directly owns 12,672 shares of the company’s stock, valued at approximately $2,096,202.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Eugene A. Shcherbakov sold 8,500 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $154.28, for a total transaction of $1,311,380.00. Following the completion of the sale, the senior vice president now directly owns 16,957 shares of the company’s stock, valued at $2,616,125.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,017 shares of company stock valued at $10,070,761. Corporate insiders own 33.80% of the company’s stock.

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)

Receive News & Ratings for IPG Photonics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.