Colony Group LLC bought a new position in shares of IPG Photonics Corporation (NASDAQ:IPGP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,003 shares of the semiconductor company’s stock, valued at approximately $291,000.

Other hedge funds have also recently bought and sold shares of the company. Denali Advisors LLC acquired a new position in shares of IPG Photonics Corporation during the 2nd quarter worth about $145,000. Chicago Partners Investment Group LLC acquired a new position in shares of IPG Photonics Corporation during the 2nd quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of IPG Photonics Corporation by 10.5% during the 2nd 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 during the last quarter. Visionary Asset Management Inc. acquired a new position in shares of IPG Photonics Corporation during the 2nd quarter worth about $209,000. Finally, Cigna Investments Inc. New acquired a new position in shares of IPG Photonics Corporation during the 2nd quarter worth about $213,000. 59.08% of the stock is currently owned by institutional investors and hedge funds.

In other IPG Photonics Corporation news, Director William S. Hurley sold 8,167 shares of IPG Photonics Corporation stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the completion of the transaction, the director now owns 12,672 shares in the company, valued at $2,096,202.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Alexander Ovtchinnikov sold 12,000 shares of IPG Photonics Corporation stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.30, for a total transaction of $1,923,600.00. Following the transaction, the senior vice president now owns 83,595 shares of the company’s stock, valued at approximately $13,400,278.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,517 shares of company stock valued at $8,759,381. 33.80% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION NOTICE: “Colony Group LLC Invests $291,000 in IPG Photonics Corporation (IPGP)” was reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://theolympiareport.com/2017/10/17/colony-group-llc-invests-291000-in-ipg-photonics-corporation-ipgp.html.

IPG Photonics Corporation (NASDAQ IPGP) traded up 0.48% during mid-day trading on Tuesday, reaching $199.65. 64,343 shares of the company’s stock were exchanged. IPG Photonics Corporation has a 1-year low of $81.90 and a 1-year high of $200.21. The stock has a market capitalization of $10.75 billion, a PE ratio of 33.43 and a beta of 1.68. The firm’s 50-day moving average is $182.69 and its 200 day moving average is $152.80.

IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.28. The firm had revenue of $369.37 million for the quarter, compared to the consensus estimate of $333.06 million. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The firm’s revenue was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Analysts forecast that IPG Photonics Corporation will post $6.64 earnings per share for the current fiscal year.

Several research analysts recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $220.00 price target on shares of IPG Photonics Corporation in a research report on Tuesday, October 10th. ValuEngine downgraded shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and set a $170.00 price target (up previously from $165.00) on shares of IPG Photonics Corporation in a research report on Friday, September 1st. Canaccord Genuity upped their price target on shares of IPG Photonics Corporation from $152.00 to $162.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Finally, Benchmark Co. restated a “buy” rating and set a $180.00 price target on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. IPG Photonics Corporation has an average rating of “Buy” and a consensus price target of $158.75.

About IPG Photonics Corporation

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.

Want to see what other hedge funds are holding IPGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IPG Photonics Corporation (NASDAQ:IPGP).

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

Receive News & Ratings for IPG Photonics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.