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 purchased a new stake in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,066 shares of the semiconductor company's stock, valued at approximately $257,000.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in IPG Photonics during the first quarter worth approximately $39,000. UMB Bank n.a. grew 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 purchasing an additional 329 shares in the last quarter. Assetmark Inc. raised its position in shares of IPG Photonics by 18.1% during the 1st quarter. Assetmark Inc. now owns 1,594 shares of the semiconductor company's stock valued at $101,000 after buying an additional 244 shares during the period. Sterling Capital Management LLC boosted its position in shares of IPG Photonics by 52.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company's stock worth $120,000 after purchasing an additional 572 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of IPG Photonics by 90.7% during the 1st quarter. Versant Capital Management Inc now owns 1,819 shares of the semiconductor company's stock worth $115,000 after purchasing an additional 865 shares during the period. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IPGP shares. Sanford C. Bernstein raised shares of IPG Photonics from a "market perform" rating to an "outperform" rating and set a $97.00 target price on the stock in a research note on Thursday, August 7th. Raymond James Financial dropped their price target on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, May 7th. Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded IPG Photonics from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $75.00.

IPG Photonics Price Performance

IPG Photonics stock traded up $2.08 during midday trading on Wednesday, hitting $80.34. 225,087 shares of the company were exchanged, compared to its average volume of 231,542. The company's fifty day moving average price is $72.48 and its 200-day moving average price is $65.82. The company has a market cap of $3.39 billion, a PE ratio of -16.40, a price-to-earnings-growth ratio of 22.41 and a beta of 0.88. IPG Photonics Corporation has a fifty-two week low of $48.59 and a fifty-two week high of $88.50.

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

IPG Photonics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%.

Insiders Place Their Bets

In other IPG Photonics news, Director Jeanmarie F. Desmond sold 1,360 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $76.24, for a total transaction 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 SEC, which is available through this link. 39.50% of the stock is currently owned by company insiders.

About IPG Photonics

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.