Bank of New York Mellon Corp Has $14.54 Million Stake in IPG Photonics Corporation (NASDAQ:IPGP)

Bank of New York Mellon Corp cut its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,215 shares of the semiconductor company's stock after selling 18,805 shares during the period. Bank of New York Mellon Corp owned about 0.54% of IPG Photonics worth $14,536,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. UMB Bank n.a. lifted its holdings in IPG Photonics by 107.5% during the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock worth $40,000 after buying an additional 329 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of IPG Photonics in the 4th quarter valued at $87,000. Versant Capital Management Inc lifted its stake in shares of IPG Photonics by 90.7% in the 1st quarter. Versant Capital Management Inc now owns 1,819 shares of the semiconductor company's stock valued at $115,000 after purchasing an additional 865 shares during the period. Sterling Capital Management LLC lifted its stake in shares of IPG Photonics by 52.8% in the 4th 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 during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of IPG Photonics in the 4th quarter valued at $134,000. 93.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IPGP shares. Wall Street Zen raised IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Raymond James Financial lowered their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $72.00 price objective on shares of 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 issued a strong buy rating to the company. According to MarketBeat.com, IPG Photonics presently has an average rating of "Hold" and a consensus price target of $69.50.

IPG Photonics Stock Performance

NASDAQ:IPGP traded up $0.14 during mid-day trading on Tuesday, hitting $74.57. The stock had a trading volume of 65,257 shares, compared to its average volume of 289,451. The company's 50 day simple moving average is $68.80 and its 200 day simple moving average is $65.45. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -16.10, a PEG ratio of 12.02 and a beta of 0.90. IPG Photonics Corporation has a twelve month low of $48.59 and a twelve month high of $90.53.

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

IPG Photonics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.77%.

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.