Victory Capital Management Inc. reduced its stake in IPG Photonics Co. (NASDAQ:IPGP – Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,788 shares of the semiconductor company’s stock after selling 333 shares during the period. Victory Capital Management Inc.’s holdings in IPG Photonics were worth $1,197,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rice Hall James & Associates LLC boosted its stake in shares of IPG Photonics by 17.6% in the 3rd quarter. Rice Hall James & Associates LLC now owns 38,270 shares of the semiconductor company’s stock valued at $3,886,000 after buying an additional 5,717 shares during the period. Orion Portfolio Solutions LLC purchased a new position in IPG Photonics in the third quarter worth approximately $332,000. Lynwood Capital Management Inc. acquired a new position in IPG Photonics during the 3rd quarter worth approximately $508,000. Cambiar Investors LLC increased its position in shares of IPG Photonics by 1.6% in the 3rd quarter. Cambiar Investors LLC now owns 98,858 shares of the semiconductor company’s stock valued at $10,038,000 after purchasing an additional 1,599 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of IPG Photonics by 39.4% during the 3rd quarter. Assetmark Inc. now owns 612 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 173 shares during the last quarter. 59.07% of the stock is currently owned by hedge funds and other institutional investors.
In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $95.34, for a total transaction of $786,555.00. Following the transaction, the insider now directly owns 7,237,849 shares of the company’s stock, valued at approximately $690,056,523.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $95.34, for a total transaction of $786,555.00. Following the completion of the sale, the insider now directly owns 7,237,849 shares of the company’s stock, valued at approximately $690,056,523.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Meurice sold 629 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total value of $62,900.00. Following the completion of the transaction, the director now directly owns 16,491 shares in the company, valued at approximately $1,649,100. The disclosure for this sale can be found here. Insiders have sold 17,129 shares of company stock valued at $1,670,165 in the last ninety days. 37.10% of the stock is currently owned by company insiders.
IPG Photonics Trading Up 1.8 %
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. StockNews.com cut IPG Photonics from a “buy” rating to a “hold” rating in a research note on Thursday. Seaport Res Ptn restated a “buy” rating on shares of IPG Photonics in a research note on Thursday, January 25th. Finally, Stifel Nicolaus increased their price target on shares of IPG Photonics from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IPG Photonics currently has an average rating of “Moderate Buy” and an average price target of $127.00.
About IPG Photonics
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.
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