Envestnet Asset Management Inc. Cuts Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Envestnet Asset Management Inc. trimmed its holdings in shares of IPG Photonics Co. (NASDAQ:IPGPGet Rating) by 33.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,957 shares of the semiconductor company’s stock after selling 7,545 shares during the period. Envestnet Asset Management Inc.’s holdings in IPG Photonics were worth $1,408,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its position in IPG Photonics by 174.3% during the first quarter. Signaturefd LLC now owns 384 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 244 shares during the period. JJJ Advisors Inc. raised its stake in shares of IPG Photonics by 243.6% during the first quarter. JJJ Advisors Inc. now owns 694 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 492 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of IPG Photonics during the second quarter valued at about $90,000. Canada Pension Plan Investment Board bought a new position in shares of IPG Photonics during the first quarter valued at about $120,000. Finally, Ieq Capital LLC bought a new position in shares of IPG Photonics during the second quarter valued at about $219,000. 65.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on IPGP shares. Stifel Nicolaus started coverage on shares of IPG Photonics in a research note on Wednesday, November 2nd. They set a “buy” rating and a $110.00 price objective for the company. DA Davidson lowered their price objective on shares of IPG Photonics from $150.00 to $120.00 in a research note on Wednesday, November 2nd. Citigroup lowered their price objective on shares of IPG Photonics from $157.00 to $146.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Benchmark decreased their price target on shares of IPG Photonics from $165.00 to $130.00 in a research note on Wednesday, November 2nd. Finally, StockNews.com started coverage on shares of IPG Photonics in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $134.20.

IPG Photonics Price Performance

IPGP stock opened at $89.09 on Tuesday. IPG Photonics Co. has a 1 year low of $79.88 and a 1 year high of $176.63. The company has a market cap of $4.34 billion, a P/E ratio of 17.50, a PEG ratio of 8.84 and a beta of 1.30. The firm has a 50-day moving average of $87.55 and a 200 day moving average of $93.87.

Insiders Place Their Bets

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $88.14, for a total value of $440,700.00. Following the sale, the insider now owns 7,409,599 shares in the company, valued at $653,082,055.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 25,000 shares of company stock worth $2,229,800. 33.50% of the stock is currently owned by company insiders.

About IPG Photonics

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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.

Further Reading

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

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