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.

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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.

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

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