9,829 Shares in IPG Photonics Co. (NASDAQ:IPGP) Acquired by ARGA Investment Management LP

ARGA Investment Management LP acquired a new position in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 9,829 shares of the semiconductor company's stock, valued at approximately $1,067,000.

A number of other hedge funds also recently added to or reduced their stakes in IPGP. Channing Capital Management LLC purchased a new position in IPG Photonics during the fourth quarter worth $70,719,000. New York State Common Retirement Fund lifted its stake in shares of IPG Photonics by 636.6% during the fourth quarter. New York State Common Retirement Fund now owns 204,502 shares of the semiconductor company's stock worth $22,197,000 after purchasing an additional 176,739 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of IPG Photonics by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company's stock worth $308,587,000 after purchasing an additional 85,984 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in shares of IPG Photonics by 2,136.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 82,739 shares of the semiconductor company's stock worth $8,401,000 after acquiring an additional 79,039 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of IPG Photonics by 9.6% in the third quarter. Invesco Ltd. now owns 836,794 shares of the semiconductor company's stock worth $84,968,000 after acquiring an additional 73,182 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, Director Eric Meurice sold 788 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $89.30, for a total value of $70,368.40. Following the transaction, the director now directly owns 16,491 shares of the company's stock, valued at approximately $1,472,646.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other IPG Photonics news, Director Eric Meurice sold 788 shares of the firm's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $89.30, for a total value of $70,368.40. Following the sale, the director now owns 16,491 shares in the company, valued at $1,472,646.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $85.68, for a total transaction of $856,800.00. Following the transaction, the insider now directly owns 7,219,599 shares of the company's stock, valued at approximately $618,575,242.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,788 shares of company stock worth $2,595,508. Insiders own 38.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com lowered IPG Photonics from a "buy" rating to a "hold" rating in a report on Saturday, February 17th. Seaport Res Ptn reissued a "buy" rating on shares of IPG Photonics in a report on Thursday, January 25th. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Stifel Nicolaus cut their price objective on IPG Photonics from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, February 14th. Finally, Citigroup cut their price objective on IPG Photonics from $74.00 to $68.00 and set a "sell" rating for the company in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $110.40.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP traded down $1.57 during mid-day trading on Thursday, hitting $88.60. 192,830 shares of the stock were exchanged, compared to its average volume of 285,066. The company has a market cap of $4.04 billion, a P/E ratio of 23.24 and a beta of 1.17. The stock's fifty day simple moving average is $88.05 and its two-hundred day simple moving average is $93.86. IPG Photonics Co. has a twelve month low of $80.33 and a twelve month high of $141.85.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The firm had revenue of $252.00 million for the quarter, compared to analysts' expectations of $255.53 million. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The business's revenue for the quarter was down 27.4% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. As a group, equities research analysts predict that IPG Photonics Co. will post 2.81 earnings per share for the current fiscal year.

IPG Photonics declared that its board has authorized a stock repurchase program on Tuesday, February 13th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.

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