Fred Alger Management Inc. grew its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,719 shares of the semiconductor company’s stock after buying an additional 15,638 shares during the quarter. Fred Alger Management Inc. owned 0.37% of IPG Photonics Corporation worth $28,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake in IPG Photonics Corporation by 4.1% during the second quarter. BlackRock Inc. now owns 3,078,662 shares of the semiconductor company’s stock worth $446,714,000 after buying an additional 121,338 shares during the period. Vanguard Group Inc. grew its stake in IPG Photonics Corporation by 8.8% during the second quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock worth $443,143,000 after buying an additional 245,876 shares during the period. State Street Corp grew its stake in IPG Photonics Corporation by 2.4% during the first quarter. State Street Corp now owns 935,410 shares of the semiconductor company’s stock worth $112,902,000 after buying an additional 22,314 shares during the period. Clearbridge Investments LLC grew its stake in IPG Photonics Corporation by 25.6% during the first quarter. Clearbridge Investments LLC now owns 934,882 shares of the semiconductor company’s stock worth $112,840,000 after buying an additional 190,514 shares during the period. Finally, Eagle Asset Management Inc. grew its stake in IPG Photonics Corporation by 5.3% during the second quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock worth $110,233,000 after buying an additional 37,918 shares during the period. Institutional investors own 59.07% of the company’s stock.

IPG Photonics Corporation (IPGP) traded down 0.04% on Thursday, hitting $189.85. 60,306 shares of the stock were exchanged. IPG Photonics Corporation has a one year low of $81.00 and a one year high of $191.05. The company’s 50 day moving average price is $176.60 and its 200-day moving average price is $148.77. The company has a market cap of $10.22 billion, a P/E ratio of 31.79 and a beta of 1.68.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The company had revenue of $369.37 million for the quarter, compared to the consensus estimate of $333.06 million. During the same quarter last year, the company posted $1.25 earnings per share. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. Equities research analysts predict that IPG Photonics Corporation will post $6.64 EPS for the current fiscal year.

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In other IPG Photonics Corporation news, SVP Eugene A. Shcherbakov sold 8,500 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $154.28, for a total transaction of $1,311,380.00. Following the transaction, the senior vice president now owns 16,957 shares in the company, valued at $2,616,125.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Alexander Ovtchinnikov sold 12,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.30, for a total value of $1,923,600.00. Following the transaction, the senior vice president now owns 83,595 shares in the company, valued at approximately $13,400,278.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,017 shares of company stock worth $10,070,761. Corporate insiders own 33.80% of the company’s stock.

Several equities research analysts have issued reports on IPGP shares. Benchmark Co. reiterated a “buy” rating and set a $180.00 price objective on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $182.00 price objective (up from $160.00) on shares of IPG Photonics Corporation in a research note on Tuesday, August 1st. Canaccord Genuity reiterated a “buy” rating and set a $152.00 price objective (up from $138.00) on shares of IPG Photonics Corporation in a research note on Friday, June 16th. ValuEngine upgraded shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $170.00 price objective (up from $165.00) on shares of IPG Photonics Corporation in a research note on Friday, September 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. IPG Photonics Corporation has an average rating of “Buy” and a consensus price target of $150.00.

IPG Photonics Corporation 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 Corporation (NASDAQ:IPGP)

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