Cerity Partners LLC Has $524,000 Position in IPG Photonics Corporation (NASDAQ:IPGP)

Key Points

• Cerity Partners LLC increased its stake in IPG Photonics Corporation by 173.9%, acquiring an additional 5,269 shares in the first quarter, bringing its total holdings to 8,299 shares valued at $524,000.
• IPG Photonics reported quarterly earnings of $0.31 per share, exceeding analysts' expectations, while also declaring a dividend of $0.33 per share.
• The company's stocks have seen significant institutional interest, with hedge funds and other institutional investors now owning 93.79% of the company's stock.

Cerity Partners LLC increased its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 173.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,299 shares of the semiconductor company's stock after acquiring an additional 5,269 shares during the period. Cerity Partners LLC's holdings in IPG Photonics were worth $524,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in IPGP. Dimensional Fund Advisors LP boosted its position in shares of IPG Photonics by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company's stock valued at $98,335,000 after acquiring an additional 173,584 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of IPG Photonics by 65.1% during the 4th quarter. Ameriprise Financial Inc. now owns 298,845 shares of the semiconductor company's stock valued at $21,732,000 after acquiring an additional 117,846 shares in the last quarter. First Trust Advisors LP boosted its position in shares of IPG Photonics by 35.1% during the 4th quarter. First Trust Advisors LP now owns 343,208 shares of the semiconductor company's stock valued at $24,958,000 after acquiring an additional 89,237 shares in the last quarter. American Century Companies Inc. boosted its position in shares of IPG Photonics by 1,076.7% during the 4th quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company's stock valued at $6,826,000 after acquiring an additional 85,889 shares in the last quarter. Finally, Sora Investors LLC boosted its position in shares of IPG Photonics by 94.8% during the 4th quarter. Sora Investors LLC now owns 165,611 shares of the semiconductor company's stock valued at $12,043,000 after acquiring an additional 80,611 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Trading Up 0.4%

Shares of IPGP traded up $0.36 on Tuesday, reaching $79.97. 12,795 shares of the company's stock were exchanged, compared to its average volume of 305,131. The stock has a market capitalization of $3.40 billion, a P/E ratio of -17.39, a price-to-earnings-growth ratio of 12.57 and a beta of 0.90. The business has a 50 day moving average price of $70.14 and a two-hundred day moving average price of $65.57. IPG Photonics Corporation has a 12 month low of $48.59 and a 12 month high of $88.50.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly 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 business had revenue of $227.79 million during the quarter, compared to the consensus estimate of $227.00 million. IPG Photonics had a negative net margin of 21.18% and a positive return on equity of 2.56%. IPG Photonics's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. Equities research analysts predict that IPG Photonics Corporation will post 1.54 EPS for the current year.

IPG Photonics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors 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 1.65%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Raymond James Financial decreased their target price on shares of 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. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a report on Monday, April 28th. Finally, Wall Street Zen raised shares of IPG Photonics from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. One equities 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, IPG Photonics has an average rating of "Hold" and a consensus price target of $69.50.

IPG Photonics Company 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.