IPG Photonics Co. (NASDAQ:IPGP) Stake Reduced by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC trimmed its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 44.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,784 shares of the semiconductor company’s stock after selling 3,781 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in IPG Photonics were worth $519,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Channing Capital Management LLC acquired a new stake in IPG Photonics during the 4th quarter worth about $70,719,000. New York State Common Retirement Fund grew its holdings in shares of IPG Photonics by 636.6% during the 4th quarter. New York State Common Retirement Fund now owns 204,502 shares of the semiconductor company’s stock valued at $22,197,000 after acquiring an additional 176,739 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of IPG Photonics by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company’s stock worth $308,587,000 after acquiring an additional 85,984 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in IPG Photonics by 2,136.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 82,739 shares of the semiconductor company’s stock worth $8,401,000 after purchasing an additional 79,039 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of IPG Photonics by 9.6% during the 3rd quarter. Invesco Ltd. now owns 836,794 shares of the semiconductor company’s stock worth $84,968,000 after purchasing an additional 73,182 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $89.56, for a total value of $895,600.00. Following the completion of the sale, the insider now directly owns 7,209,599 shares of the company’s stock, valued at approximately $645,691,686.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.56, for a total value of $895,600.00. Following the completion of the transaction, the insider now directly owns 7,209,599 shares in the company, valued at $645,691,686.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Meurice sold 788 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $89.30, for a total value of $70,368.40. Following the completion of the transaction, the director now owns 16,491 shares in the company, valued at $1,472,646.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,788 shares of company stock worth $1,738,708. Company insiders own 38.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Benchmark dropped their target price on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. StockNews.com downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Finally, Citigroup lowered their target price on IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.40.

IPG Photonics Price Performance

IPGP stock opened at $85.63 on Friday. IPG Photonics Co. has a fifty-two week low of $80.33 and a fifty-two week high of $141.85. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 22.07 and a beta of 1.17. The business’s fifty day moving average price is $87.83 and its two-hundred day moving average price is $93.79.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $252.00 million during 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 EPS. Research analysts expect that IPG Photonics Co. will post 2.77 EPS for the current year.

IPG Photonics announced that its board has authorized a stock buyback plan 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 plans are typically a sign that the company’s leadership believes its stock is undervalued.

IPG Photonics Company 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.