Point72 Asset Management L.P. Invests $298,000 in IPG Photonics Co. (NASDAQ:IPGP)

Point72 Asset Management L.P. bought a new position in IPG Photonics Co. (NASDAQ:IPGP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,100 shares of the semiconductor company's stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IPGP. Venturi Wealth Management LLC raised its holdings in IPG Photonics by 355.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock valued at $76,000 after acquiring an additional 818 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of IPG Photonics by 463.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company's stock worth $77,000 after purchasing an additional 876 shares during the period. Headlands Technologies LLC bought a new position in shares of IPG Photonics in the fourth quarter worth $87,000. KBC Group NV grew its position in IPG Photonics by 48.5% in the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company's stock worth $117,000 after acquiring an additional 527 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in IPG Photonics by 52.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company's stock worth $120,000 after acquiring an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company's stock.

IPG Photonics Trading Up 3.7%

Shares of NASDAQ:IPGP traded up $2.36 on Tuesday, reaching $66.96. 255,845 shares of the company traded hands, compared to its average volume of 290,708. The business's 50-day simple moving average is $59.84 and its 200 day simple moving average is $67.19. IPG Photonics Co. has a 52 week low of $48.59 and a 52 week high of $92.21. The stock has a market capitalization of $2.85 billion, a P/E ratio of -16.02 and a beta of 0.92.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. The firm had revenue of $227.79 million for the quarter, compared to analysts' expectations of $227.00 million. During the same period last year, the firm earned $0.52 earnings per share. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. Sell-side analysts expect that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

IPG Photonics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.97%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Raymond James cut their target price 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. CL King upgraded shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 target price for the company in a research report on Tuesday, March 18th. Wall Street Zen upgraded shares of IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Citigroup reduced their price objective on IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research note on Monday, April 28th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.