Bank of America Corp DE Sells 35,438 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Bank of America Corp DE reduced its stake in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,102 shares of the semiconductor company's stock after selling 35,438 shares during the period. Bank of America Corp DE owned approximately 0.27% of IPG Photonics worth $8,370,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC grew its stake in shares of IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock worth $76,000 after acquiring an additional 818 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of IPG Photonics by 463.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 876 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of IPG Photonics during the fourth quarter valued at $87,000. KBC Group NV lifted its holdings in shares of IPG Photonics by 48.5% during the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company's stock valued at $117,000 after purchasing an additional 527 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of IPG Photonics by 52.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company's stock valued at $120,000 after purchasing an additional 572 shares in the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Trading Down 0.3%

IPGP stock traded down $0.18 during trading on Wednesday, reaching $66.78. The stock had a trading volume of 326,697 shares, compared to its average volume of 290,851. The stock's 50 day moving average is $59.87 and its two-hundred day moving average is $67.19. IPG Photonics Co. has a 52 week low of $48.59 and a 52 week high of $92.21. The firm has a market cap of $2.84 billion, a PE ratio of -15.98 and a beta of 0.92.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. The firm had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. During the same quarter last year, the company earned $0.52 earnings per share. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, research analysts anticipate that IPG Photonics Co. will post 1.54 EPS for the current year.

IPG Photonics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.98%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IPGP shares. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a report on Wednesday, February 12th. Wall Street Zen raised IPG Photonics from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Citigroup lowered their target price on IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus set a $72.00 target price on IPG Photonics in a report on Monday, April 28th. Finally, CL King raised IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 target price on the stock in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IPG Photonics has a consensus rating of "Hold" and a consensus target price of $69.50.

IPG Photonics Profile

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.