BlackRock Inc. Cuts Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

BlackRock Inc. lessened its stake in shares of IPG Photonics Co. (NASDAQ:IPGP – Get Rating) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,115,253 shares of the semiconductor company’s stock after selling 138,185 shares during the period. BlackRock Inc. owned 0.06% of IPG Photonics worth $262,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in IPGP. Wipfli Financial Advisors LLC purchased a new position in IPG Photonics during the 3rd quarter valued at approximately $36,000. Quadrant Capital Group LLC boosted its position in shares of IPG Photonics by 195.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 478 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 316 shares during the last quarter. Truvestments Capital LLC bought a new stake in IPG Photonics in the second quarter worth $55,000. CoreCap Advisors LLC purchased a new stake in IPG Photonics during the second quarter valued at $60,000. Finally, Canada Pension Plan Investment Board bought a new position in IPG Photonics during the first quarter valued at $120,000. Hedge funds and other institutional investors own 63.50% of the company’s stock.

IPG Photonics Price Performance

IPGP stock opened at $118.13 on Monday. IPG Photonics Co. has a 12 month low of $79.88 and a 12 month high of $134.81. The firm’s 50-day moving average is $114.91 and its 200 day moving average is $98.49. The company has a market capitalization of $5.63 billion, a PE ratio of 59.96, a P/E/G ratio of 5.37 and a beta of 1.23.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IPGP shares. DA Davidson reaffirmed a “buy” rating on shares of IPG Photonics in a report on Tuesday, January 3rd. Citigroup boosted their target price on IPG Photonics from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Sanford C. Bernstein raised their price target on IPG Photonics from $100.00 to $124.00 and gave the stock a “market perform” rating in a research report on Thursday, February 16th. Stifel Nicolaus boosted their price objective on shares of IPG Photonics from $110.00 to $145.00 in a research report on Wednesday, February 15th. Finally, Benchmark raised their target price on shares of IPG Photonics from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.80.

Insider Transactions at IPG Photonics

In related news, major shareholder Valentin Gapontsev Trust I sold 16,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $122.20, for a total value of $2,016,300.00. Following the completion of the sale, the insider now owns 7,378,099 shares in the company, valued at $901,603,697.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 33.50% of the company’s stock.

About IPG Photonics

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IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.