Allianz Asset Management GmbH Grows Position in IPG Photonics Corporation (NASDAQ:IPGP)

Key Points

• Allianz Asset Management GmbH increased its stake in IPG Photonics by 33.3%, acquiring 23,372 shares, raising its total ownership to 93,649 shares valued at approximately $5.91 million.
• Numerous institutional investors have heightened their investments in IPG Photonics, with Ameriprise Financial Inc. increasing its stake by 65.1% and American Century Companies Inc. boosting holdings by over 1,000%.
• IPG Photonics announced a quarterly dividend of $0.33 per share, with a yield of 1.69%, while it reported earnings of $0.31 per share, exceeding expectations despite a revenue decline of 9.6% year-over-year.

Allianz Asset Management GmbH lifted its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 33.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,649 shares of the semiconductor company's stock after purchasing an additional 23,372 shares during the period. Allianz Asset Management GmbH owned about 0.22% of IPG Photonics worth $5,913,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in IPG Photonics by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company's stock worth $98,335,000 after purchasing an additional 173,584 shares during the period. Ameriprise Financial Inc. boosted its position in shares of IPG Photonics by 65.1% during the fourth quarter. Ameriprise Financial Inc. now owns 298,845 shares of the semiconductor company's stock valued at $21,732,000 after buying an additional 117,846 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of IPG Photonics by 35.1% in the 4th quarter. First Trust Advisors LP now owns 343,208 shares of the semiconductor company's stock worth $24,958,000 after purchasing an additional 89,237 shares during the period. American Century Companies Inc. raised its stake in shares of IPG Photonics by 1,076.7% in the fourth quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company's stock worth $6,826,000 after buying an additional 85,889 shares during the period. Finally, Sora Investors LLC raised its stake in shares of IPG Photonics by 94.8% in the fourth quarter. Sora Investors LLC now owns 165,611 shares of the semiconductor company's stock worth $12,043,000 after buying an additional 80,611 shares during the period. Hedge funds and other institutional investors own 93.79% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on IPGP shares. Raymond James Financial decreased their price objective on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus set a $72.00 price target on IPG Photonics in a report on Monday, April 28th. Finally, Wall Street Zen raised IPG Photonics from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IPG Photonics has an average rating of "Hold" and a consensus price target of $69.50.

IPG Photonics Price Performance

IPGP stock traded down $0.89 during trading hours on Thursday, reaching $76.15. The stock had a trading volume of 28,363 shares, compared to its average volume of 304,152. The stock has a market capitalization of $3.24 billion, a PE ratio of -16.52, a price-to-earnings-growth ratio of 12.67 and a beta of 0.90. The stock has a 50-day simple moving average of $70.38 and a 200 day simple moving average of $65.66. IPG Photonics Corporation has a fifty-two week low of $48.59 and a fifty-two week high of $88.50.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. IPG Photonics had a negative net margin of 21.18% and a positive return on equity of 2.56%. The company had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. During the same quarter in the previous year, the company earned $0.52 EPS. IPG Photonics's quarterly revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts forecast that IPG Photonics Corporation will post 1.54 EPS for the current fiscal year.

IPG Photonics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.73%.

About IPG Photonics

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.