IPG Photonics Co. (NASDAQ:IPGP) Position Raised by Covestor Ltd

Covestor Ltd increased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 94.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,728 shares of the semiconductor company’s stock after purchasing an additional 838 shares during the period. Covestor Ltd’s holdings in IPG Photonics were worth $157,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in IPG Photonics during the fourth quarter worth approximately $36,365,000. Raymond James & Associates raised its holdings in IPG Photonics by 1,349.8% during the fourth quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock worth $4,872,000 after purchasing an additional 41,791 shares in the last quarter. Evoke Wealth LLC bought a new position in shares of IPG Photonics in the fourth quarter valued at $1,640,000. ARGA Investment Management LP bought a new position in shares of IPG Photonics in the fourth quarter valued at $1,067,000. Finally, Partnership Wealth Management LLC increased its holdings in shares of IPG Photonics by 382.7% in the first quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock valued at $1,593,000 after buying an additional 13,923 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on IPGP shares. Citigroup dropped their price target on IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Finally, Benchmark dropped their price target on IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.40.

Insider Buying and Selling at IPG Photonics

In other news, Director Eric Meurice sold 788 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $89.30, for a total transaction of $70,368.40. Following the transaction, the director now directly owns 16,491 shares in the company, valued at approximately $1,472,646.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Eric Meurice sold 788 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $89.30, for a total transaction of $70,368.40. Following the transaction, the director now directly owns 16,491 shares in the company, valued at approximately $1,472,646.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total transaction of $83,922.00. Following the transaction, the director now owns 4,319 shares in the company, valued at $367,978.80. The disclosure for this sale can be found here. Company insiders own 38.00% of the company’s stock.

IPG Photonics Trading Down 0.5 %

NASDAQ:IPGP traded down $0.46 during trading hours on Tuesday, hitting $89.58. 40,520 shares of the stock traded hands, compared to its average volume of 266,399. The firm has a 50 day moving average price of $86.04 and a 200 day moving average price of $89.45. IPG Photonics Co. has a fifty-two week low of $80.27 and a fifty-two week high of $133.25. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 23.21 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The company had revenue of $252.00 million for the quarter, compared to the consensus estimate of $255.53 million. During the same period in the previous year, the business earned $1.26 EPS. The company’s revenue was down 27.4% on a year-over-year basis. Research analysts predict that IPG Photonics Co. will post 2.77 EPS for the current year.

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.