IPG Photonics Corporation (IPGP) Shares Sold by Conestoga Capital Advisors LLC
Conestoga Capital Advisors LLC lowered its stake in IPG Photonics Corporation (NASDAQ:IPGP) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,488 shares of the semiconductor company’s stock after selling 312 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in IPG Photonics Corporation were worth $2,311,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Denali Advisors LLC acquired a new stake in IPG Photonics Corporation in the second quarter worth about $145,000. Chicago Partners Investment Group LLC acquired a new stake in IPG Photonics Corporation in the second quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in IPG Photonics Corporation 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 during the period. Elefante Mark B acquired a new stake in IPG Photonics Corporation in the third quarter worth about $201,000. Finally, Fulton Bank N.A. acquired a new stake in IPG Photonics Corporation in the third quarter worth about $202,000. 58.94% of the stock is owned by institutional investors and hedge funds.
In other IPG Photonics Corporation news, CFO Timothy Pv Mammen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $162.87, for a total transaction of $1,628,700.00. Following the transaction, the chief financial officer now owns 41,100 shares in the company, valued at $6,693,957. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of the firm’s 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 transaction, the senior vice president now owns 16,957 shares in the company, valued at approximately $3,370,882.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,017 shares of company stock worth $8,724,286. 33.80% of the stock is owned by company insiders.
Several research firms recently weighed in on IPGP. Canaccord Genuity downgraded shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, July 18th. Benchmark Co. reissued a “buy” rating and issued a $180.00 price target on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Stifel Nicolaus reissued a “hold” rating and issued a $170.00 price target (up from $165.00) on shares of IPG Photonics Corporation in a report on Friday, September 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $182.00 price target (up from $160.00) on shares of IPG Photonics Corporation in a report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $180.33.
TRADEMARK VIOLATION NOTICE: This news story was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://theolympiareport.com/2017/11/02/ipg-photonics-corporation-ipgp-shares-sold-by-conestoga-capital-advisors-llc.html.
IPG Photonics Corporation (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.32. The business had revenue of $392.62 million for the quarter, compared to analysts’ expectations of $367.27 million. IPG Photonics Corporation had a return on equity of 21.17% and a net margin of 27.85%. The firm’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 earnings per share.
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).
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.