Pallas Capital Advisors LLC Purchases Shares of 4,360 IPG Photonics Corporation (NASDAQ:IPGP)

Pallas Capital Advisors LLC acquired a new position in IPG Photonics Corporation (NASDAQ:IPGP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,360 shares of the semiconductor company's stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPGP. Pacific Heights Asset Management LLC boosted its position in shares of IPG Photonics by 375.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company's stock worth $22,107,000 after purchasing an additional 240,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in IPG Photonics by 14.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company's stock valued at $98,335,000 after buying an additional 173,584 shares during the last quarter. Raymond James Financial Inc. bought a new stake in IPG Photonics in the fourth quarter worth $8,815,000. Ameriprise Financial Inc. boosted its holdings in IPG Photonics by 65.1% in the fourth quarter. Ameriprise Financial Inc. now owns 298,845 shares of the semiconductor company's stock worth $21,732,000 after acquiring an additional 117,846 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of IPG Photonics by 34.0% in the fourth quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company's stock worth $27,310,000 after acquiring an additional 95,199 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IPGP. Raymond James Financial lowered their price target 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 shares of IPG Photonics in a research note on Monday, April 28th. Wall Street Zen upgraded shares of IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Citigroup cut their price target on shares of IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a report on Tuesday, February 18th. Finally, CL King raised shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price target for the company in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, IPG Photonics presently has an average rating of "Hold" and an average target price of $69.50.

IPG Photonics Trading Down 1.9%

NASDAQ:IPGP traded down $1.29 during mid-day trading on Tuesday, reaching $66.81. The company's stock had a trading volume of 202,033 shares, compared to its average volume of 294,625. The stock has a market cap of $2.84 billion, a P/E ratio of -14.49, a PEG ratio of 10.97 and a beta of 0.90. The firm's fifty day moving average price is $62.14 and its two-hundred day moving average price is $66.28. IPG Photonics Corporation 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. 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 during the quarter, compared to analyst estimates of $227.00 million. During the same period in the previous year, the business posted $0.52 earnings per share. The business's revenue for the quarter was down 9.6% on a year-over-year basis. Analysts predict that IPG Photonics Corporation will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.98%.

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.