MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 3,961 Shares of IPG Photonics Co. (NASDAQ:IPGP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,283 shares of the semiconductor company's stock after selling 3,961 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.07% of IPG Photonics worth $2,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IPGP. Beaumont Financial Advisors LLC raised its holdings in shares of IPG Photonics by 4.2% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company's stock valued at $248,000 after buying an additional 139 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of IPG Photonics by 5.7% during the 4th quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company's stock valued at $222,000 after buying an additional 163 shares in the last quarter. Waterfront Wealth Inc. raised its holdings in shares of IPG Photonics by 1.6% during the 4th quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company's stock valued at $895,000 after buying an additional 190 shares in the last quarter. Xponance Inc. raised its holdings in shares of IPG Photonics by 7.6% during the 4th quarter. Xponance Inc. now owns 3,201 shares of the semiconductor company's stock valued at $233,000 after buying an additional 226 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its holdings in shares of IPG Photonics by 4.0% during the 4th quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company's stock valued at $454,000 after buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Needham & Company LLC reissued a "hold" rating on shares of IPG Photonics in a report on Wednesday, February 12th. Citigroup decreased 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. Raymond James decreased their price objective on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen raised IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Stifel Nicolaus set a $72.00 price target on IPG Photonics in a research note on Monday, April 28th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $69.50.

IPG Photonics Price Performance

IPG Photonics stock traded up $2.36 during trading hours on Tuesday, reaching $66.96. The company had a trading volume of 255,845 shares, compared to its average volume of 290,708. The company has a 50-day moving average price of $59.87 and a 200 day moving average price of $67.19. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -16.02 and a beta of 0.92. 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 announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. The business had revenue of $227.79 million for the quarter, compared to analysts' expectations 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 period in the previous year, the firm earned $0.52 EPS. As a group, research analysts expect that IPG Photonics Co. will post 1.54 earnings per share for the current year.

IPG Photonics Announces Dividend

The firm 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 $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.97%.

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.