Edgestream Partners L.P. increased its stake in IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 92.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,449 shares of the semiconductor company's stock after buying an additional 18,490 shares during the period. Edgestream Partners L.P. owned 0.09% of IPG Photonics worth $2,428,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of IPG Photonics by 107.5% during the first quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 329 shares in the last quarter. Headlands Technologies LLC purchased a new position in IPG Photonics in the 4th quarter worth approximately $87,000. Versant Capital Management Inc raised its holdings in IPG Photonics by 90.7% in the 1st quarter. Versant Capital Management Inc now owns 1,819 shares of the semiconductor company's stock worth $115,000 after acquiring an additional 865 shares during the last quarter. Sterling Capital Management LLC raised its holdings in IPG Photonics by 52.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company's stock worth $120,000 after acquiring an additional 572 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in IPG Photonics in the 4th quarter worth approximately $134,000. 93.79% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Raymond James Financial lowered their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $69.50.
Check Out Our Latest Report on IPGP
IPG Photonics Price Performance
Shares of IPG Photonics stock traded up $0.19 on Friday, reaching $74.63. The company had a trading volume of 183,695 shares, compared to its average volume of 290,560. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -16.19, a P/E/G ratio of 11.99 and a beta of 0.90. The firm's 50-day moving average price is $68.80 and its two-hundred day moving average price is $65.55. IPG Photonics Corporation has a 1 year low of $48.59 and a 1 year high of $90.53.
IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $227.79 million during the quarter, compared to analysts' expectations of $227.00 million. During the same quarter in the previous year, the business earned $0.52 EPS. IPG Photonics's revenue was down 9.6% compared to the same quarter last year. As a group, analysts anticipate that IPG Photonics Corporation will post 1.54 EPS for the current year.
IPG Photonics Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.77%.
IPG Photonics Profile
(
Free Report)
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.
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