Virtu KCG Holdings LLC Acquires New Stake in IPG Photonics Corporation (IPGP)

Virtu KCG Holdings LLC acquired a new position in shares of IPG Photonics Corporation (NASDAQ:IPGP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,106 shares of the semiconductor company’s stock, valued at approximately $306,000.

Other institutional investors also recently made changes to their positions in the company. Denali Advisors LLC purchased a new stake in IPG Photonics Corporation in the second quarter valued at $145,000. Chicago Partners Investment Group LLC purchased a new stake in IPG Photonics Corporation in the second quarter valued at $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 valued at $200,000 after purchasing an additional 131 shares during the period. Visionary Asset Management Inc. purchased a new stake in IPG Photonics Corporation in the second quarter valued at $209,000. Finally, Cigna Investments Inc. New purchased a new stake in IPG Photonics Corporation in the second quarter valued at $213,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

IPGP has been the topic of a number of research analyst reports. DA Davidson restated a “buy” rating and issued a $220.00 target price on shares of IPG Photonics Corporation in a research report on Tuesday, October 10th. Zacks Investment Research raised IPG Photonics Corporation from a “hold” rating to a “strong-buy” rating and set a $240.00 price objective for the company in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective (up from $182.00) on shares of IPG Photonics Corporation in a research note on Friday, October 20th. ValuEngine cut IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued 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, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $170.89.

In related news, CFO Timothy Pv Mammen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $162.87, for a total value of $1,628,700.00. Following the transaction, the chief financial officer now directly owns 41,100 shares in the company, valued at $6,693,957. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William S. Hurley sold 8,167 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold 63,017 shares of company stock worth $10,647,886 over the last 90 days. 33.80% of the stock is currently owned by company insiders.

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Shares of IPG Photonics Corporation (IPGP) opened at 208.30 on Friday. The firm’s 50-day moving average price is $191.00 and its 200-day moving average price is $158.38. The stock has a market capitalization of $11.21 billion, a P/E ratio of 34.88 and a beta of 1.68. IPG Photonics Corporation has a one year low of $92.88 and a one year high of $211.73.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The company had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same period in the prior year, the business earned $1.25 earnings per share. IPG Photonics Corporation’s quarterly revenue was up 46.1% on a year-over-year basis. Equities research analysts anticipate that IPG Photonics Corporation will post $6.66 EPS for the current fiscal year.

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.

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

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