Man Group plc Has $1.37 Million Stake in IPG Photonics Co. (NASDAQ:IPGP)

Man Group plc trimmed its position in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 57.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,861 shares of the semiconductor company's stock after selling 25,082 shares during the quarter. Man Group plc's holdings in IPG Photonics were worth $1,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in IPGP. Pacific Heights Asset Management LLC raised its stake in shares of IPG Photonics by 375.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company's stock valued at $22,107,000 after acquiring an additional 240,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of IPG Photonics by 14.7% in 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. Retirement Systems of Alabama raised its stake in shares of IPG Photonics by 437.2% in the 4th quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company's stock valued at $13,011,000 after acquiring an additional 145,616 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of IPG Photonics in the 4th quarter valued at approximately $8,815,000. Finally, Ameriprise Financial Inc. raised its stake in shares of IPG Photonics by 65.1% in 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. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Stock Up 1.2%

NASDAQ IPGP traded up $0.81 during trading on Thursday, hitting $67.59. The company's stock had a trading volume of 89,293 shares, compared to its average volume of 289,764. The firm has a 50 day moving average price of $59.92 and a 200 day moving average price of $67.18. The firm has a market cap of $2.87 billion, a P/E ratio of -16.17 and a beta of 0.92. 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 results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. The company had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. The company's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. On average, equities analysts expect that IPG Photonics Co. will post 1.54 earnings per share for the current year.

IPG Photonics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.95%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup cut their price objective on IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a research note on Tuesday, February 18th. CL King raised IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price objective on the stock in a research note on Tuesday, March 18th. Raymond James cut their price objective on 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. Needham & Company LLC reissued a "hold" rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.