Comerica Bank Has $7.35 Million Holdings in IPG Photonics Corporation (IPGP)

Comerica Bank cut its stake in IPG Photonics Corporation (NASDAQ:IPGP) by 20.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,377 shares of the semiconductor company’s stock after selling 9,006 shares during the period. Comerica Bank owned approximately 0.07% of IPG Photonics worth $7,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in IPG Photonics during the 2nd quarter worth about $352,000. Prudential PLC lifted its position in IPG Photonics by 12.3% during the 2nd quarter. Prudential PLC now owns 43,000 shares of the semiconductor company’s stock worth $6,239,000 after buying an additional 4,700 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in IPG Photonics during the 3rd quarter worth about $8,013,000. Eagle Asset Management Inc. lifted its position in IPG Photonics by 5.3% during the 2nd 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 in the last quarter. Finally, Virginia Retirement Systems ET AL lifted its position in IPG Photonics by 81.0% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 7,600 shares of the semiconductor company’s stock worth $1,103,000 after buying an additional 3,400 shares in the last quarter. 56.44% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Eugene A. Shcherbakov sold 9,500 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 33.80% of the stock is currently owned by corporate insiders.

Several equities research analysts have commented on IPGP shares. DA Davidson boosted their price target on shares of IPG Photonics to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Needham & Company LLC boosted their price target on shares of IPG Photonics from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of IPG Photonics in a report on Wednesday, November 1st. ValuEngine raised shares of IPG Photonics from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, BidaskClub cut shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $180.33.

Shares of IPG Photonics Corporation (NASDAQ IPGP) traded down $23.33 during mid-day trading on Monday, hitting $200.80. 1,592,313 shares of the stock were exchanged, compared to its average volume of 350,800. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.46 and a current ratio of 9.02. The company has a market cap of $12,016.93, a PE ratio of 33.01, a price-to-earnings-growth ratio of 1.63 and a beta of 1.70. IPG Photonics Corporation has a 12 month low of $95.04 and a 12 month high of $248.23.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.32. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. The business had revenue of $392.62 million for the quarter, compared to analyst estimates of $367.27 million. During the same quarter in the prior year, the business earned $1.29 EPS. IPG Photonics’s quarterly revenue was up 47.6% on a year-over-year basis. research analysts anticipate that IPG Photonics Corporation will post 7.01 EPS for the current fiscal year.

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About IPG Photonics

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 (NASDAQ:IPGP)

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