Covestor Ltd Boosts Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Covestor Ltd lifted its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 94.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,728 shares of the semiconductor company’s stock after buying 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 reporting period.

A number of other large investors have also modified their holdings of IPGP. Vanguard Group Inc. raised its stake in shares of IPG Photonics by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company’s stock worth $308,587,000 after buying an additional 85,984 shares in the last quarter. Raymond James & Associates raised its stake in shares of IPG Photonics by 1,349.8% during the 4th quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock worth $4,872,000 after buying an additional 41,791 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of IPG Photonics by 1,168.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 42,988 shares of the semiconductor company’s stock worth $4,666,000 after buying an additional 39,599 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of IPG Photonics by 20.5% during the 4th quarter. Pacer Advisors Inc. now owns 4,440 shares of the semiconductor company’s stock worth $482,000 after buying an additional 755 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of IPG Photonics by 70.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 56,965 shares of the semiconductor company’s stock worth $6,183,000 after buying an additional 23,595 shares in the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IPG Photonics

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

IPG Photonics Price Performance

NASDAQ:IPGP traded down $0.46 during trading hours on Tuesday, reaching $89.58. 40,520 shares of the company traded hands, compared to its average volume of 266,399. The firm’s 50-day moving average is $86.04 and its 200-day moving average is $89.45. The stock has a market cap of $4.08 billion, a P/E ratio of 23.21 and a beta of 1.01. IPG Photonics Co. has a 1-year low of $80.27 and a 1-year high of $133.25.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 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 return on equity of 7.67% and a net margin of 15.34%. IPG Photonics’s quarterly revenue was down 27.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. As a group, research analysts predict that IPG Photonics Co. will post 2.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IPGP has been the subject of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st. Citigroup dropped their price objective 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. Finally, Benchmark dropped their price objective on IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.40.

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.