IPG Photonics Co. (NASDAQ:IPGP) Stake Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP – Get Rating) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,764 shares of the semiconductor company’s stock after selling 533 shares during the period. Envestnet Asset Management Inc.’s holdings in IPG Photonics were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in IPG Photonics by 17.7% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,286 shares of the semiconductor company’s stock worth $414,000 after buying an additional 643 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of IPG Photonics in the 4th quarter worth $582,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of IPG Photonics during the fourth quarter worth $3,955,000. Emerald Advisers LLC purchased a new stake in shares of IPG Photonics during the fourth quarter valued at $6,000,000. Finally, Fisher Asset Management LLC boosted its position in shares of IPG Photonics by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 187,479 shares of the semiconductor company’s stock valued at $17,749,000 after purchasing an additional 11,822 shares during the period. Institutional investors own 63.50% of the company’s stock.

Insider Activity at IPG Photonics

In related news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $115.60, for a total transaction of $953,700.00. Following the transaction, the insider now owns 7,369,849 shares of the company’s stock, valued at $851,954,544.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 49,500 shares of company stock valued at $5,823,923. 33.50% of the stock is owned by corporate insiders.

IPG Photonics Stock Performance

IPG Photonics stock opened at $114.24 on Wednesday. The firm’s 50 day moving average price is $115.74 and its two-hundred day moving average price is $108.70. The firm has a market cap of $5.40 billion, a PE ratio of 59.50, a P/E/G ratio of 2.49 and a beta of 1.22. IPG Photonics Co. has a twelve month low of $79.88 and a twelve month high of $134.81.

IPG Photonics (NASDAQ:IPGP – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.26. IPG Photonics had a return on equity of 4.62% and a net margin of 7.14%. The business had revenue of $347.17 million during the quarter, compared to analyst estimates of $330.60 million. During the same period last year, the company earned $1.31 earnings per share. IPG Photonics’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities analysts anticipate that IPG Photonics Co. will post 5.19 EPS for the current fiscal year.

IPG Photonics declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on IPGP shares. Benchmark cut their price objective on IPG Photonics from $140.00 to $134.00 in a report on Wednesday, May 3rd. Sanford C. Bernstein upped their price target on shares of IPG Photonics from $100.00 to $124.00 and gave the company a “market perform” rating in a research report on Thursday, February 16th. Citigroup decreased their price objective on shares of IPG Photonics from $160.00 to $152.00 in a research note on Tuesday, May 9th. Stifel Nicolaus boosted their target price on shares of IPG Photonics from $110.00 to $145.00 in a research note on Wednesday, February 15th. Finally, StockNews.com raised IPG Photonics from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $135.00.

About IPG Photonics

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IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.