IPG Photonics Corporation (NASDAQ:IPGP) Position Reduced by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in IPG Photonics Corporation by 1.5%, owning approximately $23.35 million worth of the company's stock after selling 5,673 shares in the 1st quarter.
• A recent earnings report showed IPG Photonics beat analysts' consensus estimates with an EPS of $0.31, but reported a revenue decline of 9.6% year-over-year.
• Analysts have mixed ratings on IPG Photonics, with the consensus rating being "Hold" and a target price averaging $69.50.

Baillie Gifford & Co. cut its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 369,873 shares of the semiconductor company's stock after selling 5,673 shares during the quarter. Baillie Gifford & Co. owned approximately 0.87% of IPG Photonics worth $23,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IPGP. Cerity Partners LLC lifted its stake in IPG Photonics by 5.7% during the fourth quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company's stock worth $222,000 after purchasing an additional 163 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in IPG Photonics by 4.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,274 shares of the semiconductor company's stock worth $311,000 after purchasing an additional 194 shares in the last quarter. Xponance Inc. raised its holdings in IPG Photonics by 7.6% in the fourth quarter. Xponance Inc. now owns 3,201 shares of the semiconductor company's stock worth $233,000 after purchasing an additional 226 shares in the last quarter. Assetmark Inc. increased its holdings in shares of IPG Photonics by 18.1% during the first quarter. Assetmark Inc. now owns 1,594 shares of the semiconductor company's stock valued at $101,000 after acquiring an additional 244 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in IPG Photonics by 107.5% in the first quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock worth $40,000 after purchasing an additional 329 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen raised IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Raymond James Financial cut their target price on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $72.00 target price on IPG Photonics in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $69.50.

IPG Photonics Price Performance

IPG Photonics stock traded down $0.62 during trading on Wednesday, reaching $78.03. 26,707 shares of the company were exchanged, compared to its average volume of 304,883. IPG Photonics Corporation has a 52-week low of $48.59 and a 52-week high of $88.50. The company has a market capitalization of $3.32 billion, a P/E ratio of -16.90, a PEG ratio of 12.83 and a beta of 0.90. The stock's 50 day simple moving average is $70.38 and its two-hundred day simple moving average is $65.66.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. The business had revenue of $227.79 million during the quarter, compared to analysts' expectations of $227.00 million. IPG Photonics had a positive return on equity of 2.56% and a negative net margin of 21.18%. The business's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. As a group, equities analysts forecast that IPG Photonics Corporation will post 1.54 earnings per share for the current year.

IPG Photonics Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.69%.

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.