Dupont Capital Management Corp reduced its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 27.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,596 shares of the semiconductor company’s stock after selling 1,374 shares during the period. Dupont Capital Management Corp’s holdings in IPG Photonics were worth $770,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Bollard Group LLC boosted its stake in shares of IPG Photonics by 145.5% during the 4th quarter. Bollard Group LLC now owns 491 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 291 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of IPG Photonics by 2.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 128,760 shares of the semiconductor company’s stock worth $27,571,000 after purchasing an additional 3,065 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of IPG Photonics by 2,313.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 64,960 shares of the semiconductor company’s stock worth $13,911,000 after purchasing an additional 62,268 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of IPG Photonics during the 4th quarter worth about $3,967,000. Finally, APG Asset Management N.V. boosted its stake in shares of IPG Photonics by 94.7% during the 4th quarter. APG Asset Management N.V. now owns 66,600 shares of the semiconductor company’s stock worth $11,876,000 after purchasing an additional 32,400 shares during the last quarter. 56.29% of the stock is currently owned by institutional investors.
In related news, CFO Timothy Pv Mammen sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $252.46, for a total value of $1,262,300.00. Following the sale, the chief financial officer now directly owns 36,100 shares of the company’s stock, valued at $9,113,806. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Angelo P. Lopresti sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $261.49, for a total transaction of $2,484,155.00. Following the completion of the sale, the senior vice president now directly owns 46,765 shares in the company, valued at $12,228,579.85. The disclosure for this sale can be found here. Insiders sold 49,500 shares of company stock worth $11,979,620 over the last three months. Corporate insiders own 33.80% of the company’s stock.
IPGP has been the topic of several analyst reports. Zacks Investment Research cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of IPG Photonics in a research note on Wednesday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target (up from $182.00) on shares of IPG Photonics in a research note on Friday, October 20th. BidaskClub raised shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Finally, DA Davidson raised their target price on shares of IPG Photonics to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $196.30.
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IPG Photonics Company 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.
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