Oppenheimer Asset Management Inc. reduced its position in IPG Photonics Corporation (NASDAQ:IPGP) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,395 shares of the semiconductor company’s stock after selling 286 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in IPG Photonics were worth $1,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IPGP. Jackson Square Partners LLC purchased a new position in IPG Photonics in the third quarter valued at about $85,354,000. AMP Capital Investors Ltd purchased a new position in IPG Photonics in the third quarter valued at about $442,000. Advantage Investment Management LLC raised its position in IPG Photonics by 366.5% in the third quarter. Advantage Investment Management LLC now owns 933 shares of the semiconductor company’s stock valued at $173,000 after purchasing an additional 733 shares during the period. Allianz Asset Management GmbH raised its position in IPG Photonics by 131.9% in the third quarter. Allianz Asset Management GmbH now owns 203,839 shares of the semiconductor company’s stock valued at $37,722,000 after purchasing an additional 115,924 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in IPG Photonics in the third quarter valued at about $6,547,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have commented on IPGP. Zacks Investment Research raised IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $240.00 price objective on the stock in a research report on Friday, October 27th. ValuEngine raised IPG Photonics from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. DA Davidson raised their price objective on IPG Photonics to $235.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Needham & Company LLC raised their price objective on IPG Photonics from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Benchmark restated a “buy” rating and set a $230.00 target price on shares of IPG Photonics in a research note on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $180.33.

In related news, SVP Trevor Ness sold 10,000 shares of IPG Photonics stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $208.17, for a total value of $2,081,700.00. Following the completion of the transaction, the senior vice president now directly owns 22,906 shares in the company, valued at $4,768,342.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of IPG Photonics stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $198.79, for a total value of $1,888,505.00. Following the completion of the transaction, the senior vice president now owns 16,957 shares of the company’s stock, valued at $3,370,882.03. The disclosure for this sale can be found here. 33.80% of the stock is owned by company insiders.

Shares of IPG Photonics Corporation (NASDAQ:IPGP) opened at $206.65 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.46 and a current ratio of 9.02. The firm has a market capitalization of $11,005.19, a PE ratio of 30.23, a PEG ratio of 1.49 and a beta of 1.70. IPG Photonics Corporation has a 52 week low of $95.04 and a 52 week high of $248.23.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.32. The company had revenue of $392.62 million during the quarter, compared to the consensus estimate of $367.27 million. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. The company’s revenue was up 47.6% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. sell-side analysts predict that IPG Photonics Corporation will post 7.01 EPS for the current fiscal year.

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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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