IPG Photonics Corporation (NASDAQ:IPGP) Shares Acquired by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in IPG Photonics by 2.3%, now holding 197,160 shares valued at approximately $12.45 million as of the latest SEC filing.
• Several other institutional investors also boosted their positions in IPG Photonics, with a significant increase from Allianz Asset Management of 33.3% in the first quarter.
• IPG Photonics reported earnings of $0.31 per share, exceeding estimates, despite a 9.6% year-over-year revenue decline.

Royce & Associates LP increased its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,160 shares of the semiconductor company's stock after purchasing an additional 4,420 shares during the quarter. Royce & Associates LP owned 0.46% of IPG Photonics worth $12,449,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC acquired a new stake in IPG Photonics in the first quarter valued at $39,000. UMB Bank n.a. increased its position in shares of IPG Photonics by 107.5% in the first quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock valued at $40,000 after buying an additional 329 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of IPG Photonics in the fourth quarter valued at $87,000. Versant Capital Management Inc increased its position in shares of IPG Photonics by 90.7% in the first quarter. Versant Capital Management Inc now owns 1,819 shares of the semiconductor company's stock valued at $115,000 after buying an additional 865 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of IPG Photonics by 52.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company's stock valued at $120,000 after buying an additional 572 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IPGP. Raymond James Financial dropped their price objective 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. Wall Street Zen upgraded IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research report on Monday, April 28th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $69.50.

IPG Photonics Stock Performance

Shares of NASDAQ:IPGP traded up $2.43 during trading on Friday, reaching $78.03. 234,415 shares of the stock were exchanged, compared to its average volume of 189,929. The firm's 50-day moving average price is $69.85 and its 200 day moving average price is $65.57. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -16.93, a price-to-earnings-growth ratio of 12.57 and a beta of 0.90. IPG Photonics Corporation has a 12-month low of $48.59 and a 12-month high of $88.78.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 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 for the quarter, compared to analyst estimates of $227.00 million. During the same period in the previous year, the company posted $0.52 EPS. IPG Photonics's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities research analysts forecast that IPG Photonics Corporation will post 1.54 EPS for the current year.

IPG Photonics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 1.69%.

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.