YorkBridge Wealth Partners LLC reduced its position in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 814 shares of the semiconductor company’s stock after selling 81 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in IPG Photonics Corporation were worth $118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prudential Financial Inc. increased its position in shares of IPG Photonics Corporation by 535.8% during the 1st quarter. Prudential Financial Inc. now owns 144,187 shares of the semiconductor company’s stock valued at $17,403,000 after purchasing an additional 121,510 shares during the period. Morgan Stanley raised its stake in shares of IPG Photonics Corporation by 31.8% in the 1st quarter. Morgan Stanley now owns 247,448 shares of the semiconductor company’s stock worth $29,867,000 after buying an additional 59,731 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of IPG Photonics Corporation by 5.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock worth $110,233,000 after buying an additional 37,918 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of IPG Photonics Corporation by 131.0% in the first quarter. Legal & General Group Plc now owns 22,963 shares of the semiconductor company’s stock valued at $2,772,000 after buying an additional 13,023 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its holdings in shares of IPG Photonics Corporation by 81.0% in the second quarter. Virginia Retirement Systems ET AL now owns 7,600 shares of the semiconductor company’s stock valued at $1,103,000 after buying an additional 3,400 shares during the period. 59.07% of the stock is owned by hedge funds and other institutional investors.

In other news, Director William S. Hurley sold 8,167 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $165.42, for a total value of $1,350,985.14. Following the transaction, the director now directly owns 12,672 shares in the company, valued at approximately $2,096,202.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Pv Mammen sold 11,600 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $166.98, for a total value of $1,936,968.00. Following the completion of the transaction, the chief financial officer now owns 42,700 shares in the company, valued at $7,130,046. The disclosure for this sale can be found here. Insiders have sold a total of 62,017 shares of company stock valued at $10,070,761 in the last ninety days. Company insiders own 33.80% of the company’s stock.

IPGP has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $182.00 target price (up previously from $160.00) on shares of IPG Photonics Corporation in a research note on Tuesday, August 1st. Benchmark Co. reiterated a “buy” rating and issued a $180.00 price target on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. Canaccord Genuity boosted their price target on shares of IPG Photonics Corporation from $152.00 to $162.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Longbow Research raised shares of IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 price target for the company in a report on Tuesday, June 6th. Finally, Stifel Nicolaus upped their price target 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $150.25.

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Shares of IPG Photonics Corporation (NASDAQ:IPGP) traded up 0.633% during midday trading on Monday, hitting $186.232. The stock had a trading volume of 14,232 shares. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 31.184 and a beta of 1.68. IPG Photonics Corporation has a 52 week low of $81.00 and a 52 week high of $187.73. The stock has a 50 day moving average price of $170.04 and a 200-day moving average price of $143.74.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share for the quarter, beating 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 business had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same period in the prior year, the business posted $1.25 earnings per share. IPG Photonics Corporation’s revenue was up 46.1% compared to the same quarter last year. Equities research analysts anticipate that IPG Photonics Corporation will post $6.64 earnings per share for the current year.

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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