960 Shares in IPG Photonics Co. (NASDAQ:IPGP) Bought by Van ECK Associates Corp

Van ECK Associates Corp acquired a new stake in IPG Photonics Co. (NASDAQ:IPGPGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 960 shares of the semiconductor company’s stock, valued at approximately $90,000.

Several other large investors also recently bought and sold shares of IPGP. Signaturefd LLC boosted its stake in IPG Photonics by 174.3% in the first quarter. Signaturefd LLC now owns 384 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 244 shares in the last quarter. JJJ Advisors Inc. raised its holdings in IPG Photonics by 243.6% during the first quarter. JJJ Advisors Inc. now owns 694 shares of the semiconductor company’s stock worth $76,000 after purchasing an additional 492 shares in the last quarter. CWM LLC raised its holdings in IPG Photonics by 291.6% during the first quarter. CWM LLC now owns 795 shares of the semiconductor company’s stock worth $87,000 after purchasing an additional 592 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in IPG Photonics during the first quarter worth about $120,000. Finally, Ieq Capital LLC acquired a new position in IPG Photonics during the second quarter worth about $219,000. Institutional investors and hedge funds own 65.21% of the company’s stock.

Insider Activity at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 5,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $101.77, for a total transaction of $508,850.00. Following the sale, the insider now owns 7,429,599 shares of the company’s stock, valued at approximately $756,110,290.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 35,000 shares of company stock worth $3,236,300 in the last ninety days. 33.50% of the stock is currently owned by insiders.

IPG Photonics Stock Performance

Shares of IPGP opened at $87.83 on Monday. The company’s 50 day moving average price is $87.61 and its 200 day moving average price is $94.52. IPG Photonics Co. has a 52 week low of $79.88 and a 52 week high of $176.63. The company has a market capitalization of $4.28 billion, a PE ratio of 17.26, a PEG ratio of 8.42 and a beta of 1.30.

Analyst Ratings Changes

Several analysts have recently commented on IPGP shares. Benchmark lowered their price target on shares of IPG Photonics from $165.00 to $130.00 in a research report on Wednesday, November 2nd. Citigroup cut their target price on shares of IPG Photonics from $157.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Stifel Nicolaus assumed coverage on shares of IPG Photonics in a research note on Wednesday, November 2nd. They set a “buy” rating and a $110.00 price target on the stock. StockNews.com assumed coverage on shares of IPG Photonics in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, DA Davidson decreased their price objective on shares of IPG Photonics from $150.00 to $120.00 in a report on Wednesday, November 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $138.50.

IPG Photonics Company Profile

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IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

See Also

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

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