Cerity Partners LLC Acquires 5,269 Shares of 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 raised its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 173.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,299 shares of the semiconductor company's stock after purchasing an additional 5,269 shares during the period. Cerity Partners LLC's holdings in IPG Photonics were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in IPG Photonics by 4.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,274 shares of the semiconductor company's stock valued at $311,000 after purchasing an additional 194 shares during the period. Xponance Inc. raised its position in shares of IPG Photonics by 7.6% in the 4th quarter. Xponance Inc. now owns 3,201 shares of the semiconductor company's stock valued at $233,000 after acquiring an additional 226 shares during the period. UMB Bank n.a. raised its position in shares of IPG Photonics by 107.5% in the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock valued at $40,000 after acquiring an additional 329 shares during the period. Bank of Montreal Can raised its position in shares of IPG Photonics by 11.6% in the 4th quarter. Bank of Montreal Can now owns 3,219 shares of the semiconductor company's stock valued at $234,000 after acquiring an additional 335 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its position in shares of IPG Photonics by 7.9% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 6,824 shares of the semiconductor company's stock valued at $496,000 after acquiring an additional 502 shares during the period. 93.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IPGP has been the topic of a number of analyst reports. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a research report on Monday, April 28th. Wall Street Zen upgraded shares of IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Raymond James Financial cut their price target 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, IPG Photonics has a consensus rating of "Hold" and an average price target of $69.50.

IPG Photonics Stock Performance

NASDAQ IPGP traded up $2.43 during trading hours on Friday, reaching $78.03. 234,415 shares of the company's stock were exchanged, compared to its average volume of 189,929. The company's 50-day moving average is $69.85 and its two-hundred day moving average is $65.57. IPG Photonics Corporation has a one year low of $48.59 and a one year high of $88.78. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -16.93, a price-to-earnings-growth ratio of 12.57 and a beta of 0.90.

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

IPG Photonics Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.69%.

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.