XTX Topco Ltd Invests $257,000 in IPG Photonics Corporation (NASDAQ:IPGP)

Key Points

• XTX Topco Ltd acquired 4,066 shares of IPG Photonics Corporation, valued at approximately $257,000, marking its first investment in the company.
• Institutional ownership of IPG Photonics stands at 93.79%, with several other firms significantly increasing their stakes in recent quarters.
• IPG Photonics reported an earnings per share (EPS) of $0.30 for the latest quarter, surpassing analysts' expectations, despite a 2.7% year-over-year revenue decline.

XTX Topco Ltd bought a new stake in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,066 shares of the semiconductor company's stock, valued at approximately $257,000.

Several other hedge funds also recently added to or reduced their stakes in IPGP. Federated Hermes Inc. increased its position in IPG Photonics by 36.3% during the 4th quarter. Federated Hermes Inc. now owns 4,791 shares of the semiconductor company's stock valued at $348,000 after buying an additional 1,276 shares in the last quarter. Cerity Partners LLC increased its position in IPG Photonics by 5.7% during the 4th quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company's stock valued at $222,000 after buying an additional 163 shares in the last quarter. Bank of Montreal Can increased its position in IPG Photonics by 11.6% during the 4th quarter. Bank of Montreal Can now owns 3,219 shares of the semiconductor company's stock valued at $234,000 after buying an additional 335 shares in the last quarter. Sterling Capital Management LLC increased its position in IPG Photonics by 52.8% during the 4th 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. Finally, Ontario Teachers Pension Plan Board increased its position in IPG Photonics by 7.9% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 6,824 shares of the semiconductor company's stock valued at $496,000 after buying an additional 502 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at IPG Photonics

In other news, Director Jeanmarie F. Desmond sold 1,360 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $76.24, for a total value of $103,686.40. Following the sale, the director owned 9,740 shares in the company, valued at $742,577.60. This represents a 12.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 39.50% of the stock is owned by insiders.

IPG Photonics Trading Down 1.0%

Shares of IPGP stock traded down $0.79 during mid-day trading on Friday, reaching $78.67. The stock had a trading volume of 167,698 shares, compared to its average volume of 233,372. The business's fifty day moving average is $72.90 and its 200-day moving average is $65.89. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -16.06, a PEG ratio of 22.53 and a beta of 0.88. IPG Photonics Corporation has a 1-year low of $48.59 and a 1-year high of $88.50.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.20. IPG Photonics had a positive return on equity of 2.25% and a negative net margin of 22.77%. The firm had revenue of $250.72 million for the quarter, compared to the consensus estimate of $228.20 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company's revenue was down 2.7% compared to the same quarter last year. On average, analysts forecast that IPG Photonics Corporation will post 1.54 earnings per share for the current year.

IPG Photonics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.7%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IPGP. Raymond James Financial reduced their target price 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. Sanford C. Bernstein raised IPG Photonics from a "market perform" rating to an "outperform" rating and set a $97.00 target price on the stock in a research report on Thursday, August 7th. Wall Street Zen raised IPG Photonics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $75.00.

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.