Exchange Traded Concepts LLC Raises Position in IPG Photonics Corporation (NASDAQ:IPGP)

Exchange Traded Concepts LLC increased its stake in IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 272,454 shares of the semiconductor company's stock after purchasing an additional 44,712 shares during the period. Exchange Traded Concepts LLC owned approximately 0.64% of IPG Photonics worth $17,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rhumbline Advisers boosted its position in IPG Photonics by 0.8% during the fourth quarter. Rhumbline Advisers now owns 75,503 shares of the semiconductor company's stock valued at $5,491,000 after buying an additional 580 shares during the period. Baillie Gifford & Co. lifted its stake in shares of IPG Photonics by 34.0% in the 4th quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company's stock valued at $27,310,000 after purchasing an additional 95,199 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of IPG Photonics by 355.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock valued at $76,000 after buying an additional 818 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in IPG Photonics by 16.3% in the fourth quarter. Handelsbanken Fonder AB now owns 10,000 shares of the semiconductor company's stock worth $727,000 after purchasing an additional 1,400 shares during the period. Finally, Waterfront Wealth Inc. increased its stake in shares of IPG Photonics by 1.6% during the fourth quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company's stock valued at $895,000 after purchasing an additional 190 shares in the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on IPGP. Citigroup lowered their price objective on IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a research note on Tuesday, February 18th. CL King upgraded shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price target on the stock in a research note on Tuesday, March 18th. Wall Street Zen upgraded shares of IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Stifel Nicolaus set a $72.00 target price on shares of IPG Photonics in a report on Monday, April 28th. 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 report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, IPG Photonics currently has a consensus rating of "Hold" and a consensus target price of $69.50.

IPG Photonics Price Performance

NASDAQ IPGP traded down $0.07 during trading hours on Wednesday, hitting $66.74. The company's stock had a trading volume of 223,582 shares, compared to its average volume of 326,429. IPG Photonics Corporation has a 12 month low of $48.59 and a 12 month high of $92.21. The company's 50 day simple moving average is $62.14 and its two-hundred day simple moving average is $66.28. The company has a market cap of $2.84 billion, a P/E ratio of -14.48, a price-to-earnings-growth ratio of 10.97 and a beta of 0.90.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10. IPG Photonics had a negative net margin of 21.18% and a positive return on equity of 2.56%. The firm had revenue of $227.79 million during the quarter, compared to analysts' expectations of $227.00 million. During the same period in the previous year, the company earned $0.52 earnings per share. The firm's quarterly revenue was down 9.6% on a year-over-year basis. As a group, research analysts predict that IPG Photonics Corporation will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.98%.

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.