Squarepoint Ops LLC Sells 6,616 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Squarepoint Ops LLC reduced its position in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 15.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 35,276 shares of the semiconductor company's stock after selling 6,616 shares during the period. Squarepoint Ops LLC owned about 0.08% of IPG Photonics worth $2,565,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of IPGP. Pacific Heights Asset Management LLC lifted its stake in 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 purchasing an additional 240,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in IPG Photonics by 14.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company's stock worth $98,335,000 after acquiring an additional 173,584 shares during the last quarter. Retirement Systems of Alabama lifted its position in IPG Photonics by 437.2% during the fourth quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company's stock worth $13,011,000 after acquiring an additional 145,616 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in IPG Photonics during the fourth quarter worth approximately $8,815,000. Finally, Ameriprise Financial Inc. lifted its position in IPG Photonics by 65.1% during the fourth quarter. Ameriprise Financial Inc. now owns 298,845 shares of the semiconductor company's stock worth $21,732,000 after acquiring an additional 117,846 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IPGP shares. Stifel Nicolaus set a $72.00 price objective 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. CL King upgraded shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price objective for the company in a research report on Tuesday, March 18th. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Finally, Raymond James cut their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $69.50.

IPG Photonics Stock Down 2.1%

Shares of IPGP traded down $1.42 during mid-day trading on Friday, hitting $65.62. 556,723 shares of the company's stock were exchanged, compared to its average volume of 292,786. IPG Photonics Co. has a 52 week low of $48.59 and a 52 week high of $92.21. The stock's 50-day simple moving average is $59.90 and its 200-day simple moving average is $66.99. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -15.70 and a beta of 0.92.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its 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. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The company had revenue of $227.79 million for the quarter, compared to analysts' expectations of $227.00 million. During the same period last year, the firm earned $0.52 earnings per share. The business's revenue for the quarter was down 9.6% on a year-over-year basis. Analysts forecast that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.01%.

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.