Wedge Capital Management L L P NC Decreases Position in IPG Photonics Co. (NASDAQ:IPGP)

Wedge Capital Management L L P NC trimmed its position in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 13.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,096 shares of the semiconductor company's stock after selling 7,070 shares during the quarter. Wedge Capital Management L L P NC owned 0.10% of IPG Photonics worth $2,784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its holdings in IPG Photonics by 42.5% in the 3rd 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. increased its holdings in IPG Photonics by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company's stock valued at $26,879,000 after buying an additional 19,307 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of IPG Photonics by 30.1% during the 4th quarter. Fisher Asset Management LLC now owns 249,830 shares of the semiconductor company's stock worth $18,168,000 after acquiring an additional 57,780 shares during the period. Pacific Heights Asset Management LLC increased its stake in IPG Photonics by 375.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company's stock valued at $22,107,000 after acquiring an additional 240,000 shares during the last quarter. Finally, American Century Companies Inc. raised its position in IPG Photonics by 1,076.7% during the fourth quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company's stock valued at $6,826,000 after purchasing an additional 85,889 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company's stock.

IPG Photonics Stock Performance

Shares of IPGP stock traded down $0.14 during mid-day trading on Wednesday, hitting $67.97. The company's stock had a trading volume of 190,929 shares, compared to its average volume of 295,591. IPG Photonics Co. has a 52 week low of $48.59 and a 52 week high of $92.21. The company's fifty day simple moving average is $60.62 and its 200-day simple moving average is $66.64. The company has a market cap of $2.89 billion, a PE ratio of -16.26 and a beta of 0.90.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10. The company had revenue of $227.79 million during the quarter, compared to analyst estimates of $227.00 million. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. IPG Photonics's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. On average, equities analysts anticipate that IPG Photonics Co. will post 1.54 earnings per share for the current year.

IPG Photonics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.94%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Stifel Nicolaus set a $72.00 target price on IPG Photonics in a research report on Monday, April 28th. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a report on Wednesday, February 12th. CL King upgraded 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. Wall Street Zen upgraded IPG Photonics from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Raymond James reduced 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. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $69.50.

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.