Voloridge Investment Management LLC lowered its position in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 47.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,726 shares of the semiconductor company's stock after selling 55,929 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.14% of IPG Photonics worth $4,416,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock worth $76,000 after acquiring an additional 818 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in 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 acquiring an additional 876 shares during the last quarter. Headlands Technologies LLC purchased a new position in IPG Photonics in the fourth quarter worth approximately $87,000. KBC Group NV lifted its stake 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 during the last quarter. Finally, Sterling Capital Management LLC lifted its stake 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 during the last quarter. Hedge funds and other institutional investors own 93.79% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a research report on Tuesday, February 18th. CL King upgraded shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price objective for the company in a research report on Tuesday, March 18th. Raymond James reduced their price objective 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. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $69.50.
Read Our Latest Stock Analysis on IPGP
IPG Photonics Stock Performance
Shares of IPGP stock traded down $1.42 during mid-day trading on Friday, reaching $65.62. 556,723 shares of the company were exchanged, compared to its average volume of 293,088. IPG Photonics Co. has a fifty-two week low of $48.59 and a fifty-two week high of $92.21. The company has a market capitalization of $2.79 billion, a P/E ratio of -15.70 and a beta of 0.92. The business's 50 day simple moving average is $59.90 and its 200 day simple moving average is $66.93.
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, topping the consensus estimate of $0.21 by $0.10. The firm had revenue of $227.79 million for the quarter, compared to analysts' expectations of $227.00 million. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share. On average, analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current year.
IPG Photonics Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 yield of 2.01%.
IPG Photonics Profile
(
Free Report)
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.
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