Polar Asset Management Partners Inc. Sells 28,000 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Polar Asset Management Partners Inc. cut its stake in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 26.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,600 shares of the semiconductor company's stock after selling 28,000 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.18% of IPG Photonics worth $5,570,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of IPG Photonics by 42.5% in the third quarter. Barclays PLC now owns 38,787 shares of the semiconductor company's stock valued at $2,883,000 after purchasing an additional 11,562 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of IPG Photonics by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company's stock valued at $26,879,000 after purchasing an additional 19,307 shares during the last quarter. Fisher Asset Management LLC lifted its stake in IPG Photonics by 30.1% during the fourth quarter. Fisher Asset Management LLC now owns 249,830 shares of the semiconductor company's stock valued at $18,168,000 after buying an additional 57,780 shares in the last quarter. Pacific Heights Asset Management LLC boosted its stake in 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 during the period. Finally, American Century Companies Inc. boosted its position in shares of IPG Photonics by 1,076.7% in the fourth quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company's stock worth $6,826,000 after buying an additional 85,889 shares during the period. 93.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. CL King raised 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 note on Tuesday, March 18th. Raymond James lowered their price target on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus set a $72.00 target price on shares of IPG Photonics in a research report on Monday, April 28th. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, Wall Street Zen upgraded shares of IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $69.50.

IPG Photonics Stock Performance

IPG Photonics stock traded down $1.42 during trading hours on Friday, hitting $65.62. 556,723 shares of the stock were exchanged, compared to its average volume of 293,088. IPG Photonics Co. has a 12 month low of $48.59 and a 12 month high of $92.21. The business's 50-day moving average is $59.90 and its two-hundred day moving average is $66.93. The stock has a market capitalization of $2.79 billion, a P/E ratio of -15.70 and a beta of 0.92.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings results 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 business 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 business posted $0.52 earnings per share. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.01%.

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.