one8zero8 LLC Reduces 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 lessened its holdings in IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 35.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Cerity Partners LLC increased its holdings in IPG Photonics by 5.7% during the 4th quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company's stock worth $222,000 after purchasing an additional 163 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in IPG Photonics by 4.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,274 shares of the semiconductor company's stock worth $311,000 after purchasing an additional 194 shares during the period. Xponance Inc. increased its holdings in shares of IPG Photonics by 7.6% in the 4th quarter. Xponance Inc. now owns 3,201 shares of the semiconductor company's stock valued at $233,000 after acquiring an additional 226 shares during the last quarter. Assetmark Inc. increased its holdings in shares of IPG Photonics by 18.1% in the 1st quarter. Assetmark Inc. now owns 1,594 shares of the semiconductor company's stock valued at $101,000 after acquiring an additional 244 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of IPG Photonics by 107.5% in the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock valued at $40,000 after acquiring an additional 329 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company's stock.

IPG Photonics Price Performance

Shares of IPGP stock traded down $0.34 during midday trading on Wednesday, reaching $78.31. 71,722 shares of the company traded hands, compared to its average volume of 305,084. The firm's 50 day simple moving average is $70.38 and its two-hundred day simple moving average is $65.66. The firm has a market cap of $3.33 billion, a PE ratio of -16.99, a price-to-earnings-growth ratio of 12.83 and a beta of 0.90. IPG Photonics Corporation has a 1-year low of $48.59 and a 1-year high of $88.50.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. IPG Photonics had a positive return on equity of 2.56% and a negative net margin of 21.18%. The firm had revenue of $227.79 million during the quarter, compared to analysts' expectations of $227.00 million. During the same period in the previous year, the firm posted $0.52 earnings per share. IPG Photonics's revenue was down 9.6% on a year-over-year basis. As a group, research analysts anticipate that IPG Photonics Corporation will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on IPGP shares. Wall Street Zen upgraded IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a research note on Monday, April 28th. Finally, Raymond James Financial reduced 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.