Verition Fund Management LLC acquired a new position in shares of IPG Photonics Co. (NASDAQ:IPGP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,360 shares of the semiconductor company’s stock, valued at approximately $218,000.

A number of other institutional investors have also recently made changes to their positions in IPGP. Jacobi Capital Management LLC raised its position in IPG Photonics by 124.7% during the 2nd quarter. Jacobi Capital Management LLC now owns 427 shares of the semiconductor company’s stock worth $30,000 after buying an additional 237 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of IPG Photonics by 47.2% in the 1st quarter. Fifth Third Bancorp now owns 393 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 126 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of IPG Photonics by 418.9% in the 2nd quarter. Bessemer Group Inc. now owns 275 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 222 shares in the last quarter. Cerebellum GP LLC purchased a new position in IPG Photonics during the 2nd quarter valued at about $50,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in IPG Photonics during the 1st quarter valued at about $55,000. Institutional investors own 63.47% of the company’s stock.

In other IPG Photonics news, SVP Angelo P. Lopresti sold 4,499 shares of IPG Photonics stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $182.15, for a total transaction of $819,492.85. Following the transaction, the senior vice president now directly owns 44,699 shares of the company’s stock, valued at $8,141,922.85. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Angelo P. Lopresti sold 5,400 shares of IPG Photonics stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $170.10, for a total transaction of $918,540.00. Following the transaction, the senior vice president now directly owns 47,275 shares in the company, valued at $8,041,477.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,420 shares of company stock worth $5,934,124. 34.00% of the stock is currently owned by corporate insiders.

Several equities analysts have weighed in on IPGP shares. DA Davidson restated a “buy” rating on shares of IPG Photonics in a report on Wednesday, August 5th. Raymond James raised their price target on shares of IPG Photonics from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, August 5th. Citigroup raised their price target on shares of IPG Photonics from $166.00 to $192.90 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Bank of America raised their price target on shares of IPG Photonics from $140.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. IPG Photonics currently has a consensus rating of “Hold” and a consensus price target of $171.88.

IPGP opened at $166.21 on Wednesday. The company’s 50 day simple moving average is $162.82 and its 200 day simple moving average is $146.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.11 and a current ratio of 9.99. IPG Photonics Co. has a 1 year low of $98.04 and a 1 year high of $184.02. The stock has a market capitalization of $8.85 billion, a PE ratio of 69.84 and a beta of 1.61.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, August 4th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.13. IPG Photonics had a net margin of 10.79% and a return on equity of 7.35%. The business had revenue of $296.40 million for the quarter, compared to analysts’ expectations of $280.54 million. During the same period last year, the company earned $1.34 earnings per share. The company’s quarterly revenue was down 18.5% on a year-over-year basis. As a group, sell-side analysts expect that IPG Photonics Co. will post 3.13 earnings per share for the current fiscal year.

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.

Further Reading: Cost of Capital Explained

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

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