one8zero8 LLC Decreases Stock Holdings in IPG Photonics Corporation (NASDAQ:IPGP)

Key Points

• one8zero8 LLC reduced its stake in IPG Photonics by 35.7%, selling 6,900 shares and leaving it with 12,435 shares valued at approximately $785,000.
• IPG Photonics reported earnings per share (EPS) of $0.31 for the most recent quarter, exceeding analysts' expectations of $0.21, although revenue was down by 9.6% year-over-year.
• The company's stock is currently rated as a "Hold" by analysts, with an average price target of $69.50, indicating a cautious outlook for future performance.

one8zero8 LLC reduced its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 35.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,435 shares of the semiconductor company's stock after selling 6,900 shares during the period. one8zero8 LLC's holdings in IPG Photonics were worth $785,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IPGP. Larson Financial Group LLC purchased a new position in IPG Photonics in the first quarter worth about $39,000. UMB Bank n.a. raised its holdings in IPG Photonics by 107.5% in the first quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock worth $40,000 after buying an additional 329 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of IPG Photonics in the fourth quarter worth approximately $87,000. Assetmark Inc. grew its stake in shares of IPG Photonics by 18.1% in the first quarter. Assetmark Inc. now owns 1,594 shares of the semiconductor company's stock worth $101,000 after acquiring an additional 244 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of IPG Photonics by 90.7% in the first quarter. Versant Capital Management Inc now owns 1,819 shares of the semiconductor company's stock worth $115,000 after acquiring an additional 865 shares during the period. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Stock Performance

Shares of IPGP traded up $2.43 during mid-day trading on Friday, reaching $78.03. The stock had a trading volume of 234,415 shares, compared to its average volume of 185,473. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -16.93, a PEG ratio of 12.57 and a beta of 0.90. IPG Photonics Corporation has a 12 month low of $48.59 and a 12 month high of $88.78. The business has a fifty day moving average of $69.85 and a 200 day moving average of $65.52.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released 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 21.18% and a positive return on equity of 2.56%. The firm had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company's quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts forecast that IPG Photonics Corporation will post 1.54 EPS for the current fiscal year.

IPG Photonics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.69%.

Analysts Set New Price Targets

A number of brokerages have recently commented on IPGP. Raymond James Financial reduced their price target on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of 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 shares of IPG Photonics in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $69.50.

About IPG Photonics

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.