Pacer Advisors Inc. Purchases 171,117 Shares of IPG Photonics Corporation (NASDAQ:IPGP)

Key Points

• Pacer Advisors Inc. dramatically increased its holdings in IPG Photonics Corporation by 4,282.2% during the 1st quarter, owning over 175,000 shares worth approximately $11 million.
• Several hedge funds also boosted their stakes in IPG Photonics, with significant increases from Dimensional Fund Advisors and Ameriprise Financial during the 4th quarter.
• IPG Photonics reported a quarterly EPS of $0.31, exceeding analyst estimates, but showed a 9.6% year-over-year revenue decline amid challenging market conditions.

Pacer Advisors Inc. increased its holdings in IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 4,282.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,113 shares of the semiconductor company's stock after acquiring an additional 171,117 shares during the quarter. Pacer Advisors Inc. owned approximately 0.41% of IPG Photonics worth $11,057,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IPGP. Virtu Financial LLC acquired a new position in IPG Photonics in the 4th quarter valued at $209,000. American Century Companies Inc. boosted its stake in shares of IPG Photonics by 1,076.7% in the 4th quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company's stock valued at $6,826,000 after buying an additional 85,889 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in IPG Photonics during the fourth quarter worth approximately $465,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in IPG Photonics by 17.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,172 shares of the semiconductor company's stock worth $376,000 after purchasing an additional 776 shares during the last quarter. Finally, Norges Bank purchased a new stake in IPG Photonics during the fourth quarter worth approximately $5,630,000. 93.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James Financial decreased their target price on 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. Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $69.50.

IPG Photonics Price Performance

NASDAQ:IPGP traded down $0.52 during trading hours on Thursday, reaching $76.53. 48,018 shares of the company were exchanged, compared to its average volume of 304,252. The business has a 50 day moving average of $70.38 and a 200 day moving average of $65.66. IPG Photonics Corporation has a 1-year low of $48.59 and a 1-year high of $88.50. The company has a market capitalization of $3.25 billion, a P/E ratio of -16.62, a P/E/G ratio of 12.67 and a beta of 0.90.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share for the quarter, beating 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 business had revenue of $227.79 million during the quarter, compared to analyst estimates of $227.00 million. During the same period in the prior year, the company earned $0.52 earnings per share. IPG Photonics's revenue was down 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that IPG Photonics Corporation will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.72%.

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.