Millennium Management LLC Has $3.03 Million Position in IPG Photonics Co. (NASDAQ:IPGP)

Millennium Management LLC boosted its stake in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 98.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,669 shares of the semiconductor company's stock after acquiring an additional 20,639 shares during the quarter. Millennium Management LLC owned 0.10% of IPG Photonics worth $3,030,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in IPG Photonics by 5.7% during the fourth quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company's stock worth $222,000 after buying an additional 163 shares during the last quarter. Waterfront Wealth Inc. boosted its holdings in IPG Photonics by 1.6% during the fourth quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company's stock worth $895,000 after buying an additional 190 shares during the last quarter. Xponance Inc. boosted its holdings in IPG Photonics by 7.6% during the fourth quarter. Xponance Inc. now owns 3,201 shares of the semiconductor company's stock worth $233,000 after buying an additional 226 shares during the last quarter. Calamos Wealth Management LLC boosted its holdings in IPG Photonics by 4.0% during the fourth quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company's stock worth $454,000 after buying an additional 237 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in IPG Photonics by 11.6% during the fourth quarter. Bank of Montreal Can now owns 3,219 shares of the semiconductor company's stock worth $234,000 after buying an additional 335 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded IPG Photonics from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a report on Monday, April 28th. Citigroup cut their price objective on IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a report on Tuesday, February 18th. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a report on Wednesday, February 12th. Finally, CL King upgraded IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price objective on the stock in a report on Tuesday, March 18th. One investment 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 company. Based on data from MarketBeat, IPG Photonics presently has a consensus rating of "Hold" and a consensus target price of $69.50.

IPG Photonics Stock Performance

NASDAQ IPGP traded down $0.74 during trading on Wednesday, hitting $68.23. The stock had a trading volume of 210,506 shares, compared to its average volume of 293,533. The company has a market capitalization of $2.90 billion, a PE ratio of -16.32 and a beta of 0.92. The company's 50-day moving average price is $60.02 and its two-hundred day moving average price is $66.85. IPG Photonics Co. has a 12 month low of $48.59 and a 12 month high of $92.21.

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

IPG Photonics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.93%.

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.