Exchange Traded Concepts LLC Purchases 44,712 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Exchange Traded Concepts LLC boosted its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 272,454 shares of the semiconductor company's stock after acquiring an additional 44,712 shares during the period. Exchange Traded Concepts LLC owned 0.64% of IPG Photonics worth $17,203,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Rhumbline Advisers lifted its holdings in shares of 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 purchasing an additional 580 shares during the last quarter. Baillie Gifford & Co. raised its stake in IPG Photonics by 34.0% during the fourth quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company's stock valued at $27,310,000 after buying an additional 95,199 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock worth $76,000 after acquiring an additional 818 shares in the last quarter. Handelsbanken Fonder AB boosted 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 acquiring an additional 1,400 shares in the last quarter. Finally, Waterfront Wealth Inc. grew its stake in shares of IPG Photonics by 1.6% in the fourth quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company's stock worth $895,000 after acquiring an additional 190 shares during the last quarter. Institutional investors own 93.79% of the company's stock.

IPG Photonics Trading Down 3.3%

NASDAQ:IPGP traded down $2.28 during trading hours on Friday, reaching $65.91. The company had a trading volume of 161,275 shares, compared to its average volume of 295,270. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -15.77 and a beta of 0.90. The firm's 50 day moving average price is $61.59 and its 200-day moving average price is $66.42. IPG Photonics Co. has a 52 week low of $48.59 and a 52 week high of $92.21.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. The company had revenue of $227.79 million during the quarter, compared to analyst estimates of $227.00 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. IPG Photonics's revenue was down 9.6% compared to the same quarter last year. On average, analysts forecast that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IPGP. CL King raised IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price target for the company in a research report on Tuesday, March 18th. Citigroup decreased their target price on shares of IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a report on Monday, April 28th. Wall Street Zen raised shares of IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Raymond James reduced their target price on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IPG Photonics presently has an average rating of "Hold" and an average 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.