Royce & Associates LP lowered its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,260 shares of the semiconductor company’s stock after selling 1,829 shares during the period. Royce & Associates LP owned about 0.39% of IPG Photonics worth $29,891,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of IPGP. TRUE Private Wealth Advisors bought a new position in shares of IPG Photonics during the fourth quarter valued at $36,000. Lenox Wealth Advisors LLC lifted its holdings in shares of IPG Photonics by 213.4% during the fourth quarter. Lenox Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 175 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of IPG Photonics by 222.1% during the third quarter. Meeder Asset Management Inc. now owns 277 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 191 shares during the period. Cerebellum GP LLC bought a new position in shares of IPG Photonics during the third quarter valued at $50,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of IPG Photonics by 1,166.7% during the third quarter. Global Retirement Partners LLC now owns 380 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 64.32% of the company’s stock.
A number of research analysts have issued reports on the company. Piper Sandler reissued a “hold” rating and set a $150.00 price objective on shares of IPG Photonics in a report on Thursday. ValuEngine cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. TheStreet cut IPG Photonics from a “b-” rating to a “c+” rating in a report on Tuesday, January 7th. Citigroup lifted their price objective on IPG Photonics from $168.10 to $173.80 and gave the company a “buy” rating in a report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $161.14.
In related news, major shareholder Valentin Gapontsev Trust I sold 8,000 shares of IPG Photonics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $141.06, for a total value of $1,128,480.00. Following the completion of the transaction, the insider now directly owns 7,533,928 shares of the company’s stock, valued at $1,062,735,883.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 33.90% of the company’s stock.
Shares of IPG Photonics stock traded down $10.52 during trading on Friday, reaching $139.45. The company’s stock had a trading volume of 48,827 shares, compared to its average volume of 451,410. The stock has a 50-day moving average price of $140.47 and a two-hundred day moving average price of $136.07. The company has a current ratio of 9.08, a quick ratio of 7.05 and a debt-to-equity ratio of 0.02. IPG Photonics Co. has a one year low of $113.67 and a one year high of $182.17. The stock has a market capitalization of $7.96 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 11.17 and a beta of 2.23.
IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.05). IPG Photonics had a net margin of 19.45% and a return on equity of 11.50%. The business had revenue of $306.60 million during the quarter, compared to the consensus estimate of $285.77 million. During the same period in the prior year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that IPG Photonics Co. will post 4.32 EPS for the current fiscal year.
About IPG Photonics
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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