Caxton Associates LP Acquires 4,726 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Caxton Associates LP grew its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 100.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,418 shares of the semiconductor company’s stock after purchasing an additional 4,726 shares during the period. Caxton Associates LP’s holdings in IPG Photonics were worth $854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Benjamin F. Edwards & Company Inc. bought a new stake in shares of IPG Photonics in the fourth quarter worth $40,000. Disciplined Equity Management Inc. bought a new stake in shares of IPG Photonics in the fourth quarter worth $43,000. Crewe Advisors LLC bought a new stake in shares of IPG Photonics in the first quarter worth $52,000. AM Squared Ltd grew its holdings in shares of IPG Photonics by 200.0% in the fourth quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 400 shares during the period. Finally, Mather Group LLC. bought a new stake in shares of IPG Photonics in the first quarter worth $67,000. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Down 7.3 %

NASDAQ:IPGP opened at $81.20 on Wednesday. The company has a market capitalization of $3.70 billion, a P/E ratio of 20.93 and a beta of 1.01. IPG Photonics Co. has a 12 month low of $79.80 and a 12 month high of $132.99. The business’s 50-day moving average is $85.74 and its 200 day moving average is $88.81.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The company had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $259.31 million. During the same quarter last year, the company earned $1.31 earnings per share. The company’s revenue for the quarter was down 24.2% on a year-over-year basis. On average, research analysts forecast that IPG Photonics Co. will post 2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on IPGP shares. Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup cut their price target on IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $110.40.

Insider Activity

In related news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total value of $83,922.00. Following the transaction, the director now owns 4,319 shares of the company’s stock, valued at $367,978.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 38.00% of the company’s stock.

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.