IPG Photonics Corporation (IPGP) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in IPG Photonics Corporation (NASDAQ:IPGP) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,827 shares of the semiconductor company’s stock after selling 745 shares during the quarter. Envestnet Asset Management Inc.’s holdings in IPG Photonics were worth $1,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in IPG Photonics by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock worth $200,000 after purchasing an additional 131 shares in the last quarter. Elefante Mark B bought a new position in IPG Photonics in the third quarter worth $201,000. Fulton Bank N.A. bought a new position in IPG Photonics in the third quarter worth $202,000. Cigna Investments Inc. New bought a new position in IPG Photonics in the second quarter worth $213,000. Finally, MML Investors Services LLC bought a new position in IPG Photonics in the second quarter worth $221,000. 56.38% of the stock is owned by institutional investors.

In related news, SVP Eugene A. Shcherbakov sold 9,500 shares of IPG Photonics stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $198.79, for a total value of $1,888,505.00. Following the completion of the sale, the senior vice president now directly owns 16,957 shares in the company, valued at approximately $3,370,882.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Trevor Ness sold 10,000 shares of IPG Photonics stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $208.17, for a total value of $2,081,700.00. Following the completion of the sale, the senior vice president now owns 22,906 shares of the company’s stock, valued at $4,768,342.02. The disclosure for this sale can be found here. 33.80% of the stock is owned by company insiders.

A number of equities analysts have issued reports on the company. BidaskClub downgraded IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. ValuEngine downgraded IPG Photonics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. DA Davidson increased their price objective on IPG Photonics to $235.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Needham & Company LLC increased their price objective on IPG Photonics from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of IPG Photonics in a report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. IPG Photonics has an average rating of “Buy” and an average target price of $180.33.

IPG Photonics Corporation (NASDAQ IPGP) opened at $212.65 on Tuesday. IPG Photonics Corporation has a twelve month low of $95.04 and a twelve month high of $248.23. The company has a current ratio of 9.02, a quick ratio of 7.46 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11,155.32, a price-to-earnings ratio of 30.64, a PEG ratio of 2.48 and a beta of 1.70.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.32. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. The firm had revenue of $392.62 million during the quarter, compared to the consensus estimate of $367.27 million. During the same period last year, the company earned $1.29 earnings per share. The company’s revenue was up 47.6% on a year-over-year basis. sell-side analysts anticipate that IPG Photonics Corporation will post 6.99 EPS for the current fiscal year.

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IPG Photonics Company Profile

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 (NASDAQ:IPGP)

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