Bellevue Group AG Trims Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Bellevue Group AG cut its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 42.6% during the first quarter, HoldingsChannel.com reports. The fund owned 1,350 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. Bellevue Group AG’s holdings in IPG Photonics were worth $285,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Shaker Investments LLC OH increased its position in shares of IPG Photonics by 77.8% during the first quarter. Shaker Investments LLC OH now owns 8,076 shares of the semiconductor company’s stock worth $1,704,000 after acquiring an additional 3,534 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in shares of IPG Photonics by 23.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 40,345 shares of the semiconductor company’s stock worth $9,028,000 after acquiring an additional 7,577 shares during the period. KBC Group NV increased its position in shares of IPG Photonics by 45.1% during the fourth quarter. KBC Group NV now owns 47,543 shares of the semiconductor company’s stock worth $10,640,000 after acquiring an additional 14,788 shares during the period. Toronto Dominion Bank increased its position in shares of IPG Photonics by 12.7% during the fourth quarter. Toronto Dominion Bank now owns 20,321 shares of the semiconductor company’s stock worth $4,547,000 after acquiring an additional 2,284 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of IPG Photonics by 4.9% during the fourth quarter. SG Americas Securities LLC now owns 2,121 shares of the semiconductor company’s stock worth $475,000 after acquiring an additional 99 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

IPGP has been the topic of several research reports. DA Davidson cut their price objective on shares of IPG Photonics from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, May 5th. Benchmark raised shares of IPG Photonics from a “hold” rating to a “buy” rating and set a $230.00 price objective on the stock in a report on Wednesday, May 5th. Needham & Company LLC cut their price target on shares of IPG Photonics from $280.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, May 5th. Finally, Canaccord Genuity lifted their price target on shares of IPG Photonics from $177.00 to $240.00 and gave the stock a “hold” rating in a report on Monday, March 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. IPG Photonics currently has a consensus rating of “Buy” and a consensus price target of $227.25.

In related news, CTO Igor Samartsev sold 500 shares of the business’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $213.04, for a total transaction of $106,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Fibre Devices Ltd Ip sold 12,500 shares of the business’s stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $201.06, for a total transaction of $2,513,250.00. Following the transaction, the insider now owns 6,971,061 shares of the company’s stock, valued at $1,401,601,524.66. The disclosure for this sale can be found here. Insiders have sold 45,837 shares of company stock valued at $9,461,884 over the last quarter. Insiders own 32.90% of the company’s stock.

NASDAQ:IPGP opened at $205.21 on Friday. IPG Photonics Co. has a 12 month low of $149.51 and a 12 month high of $262.55. The business’s fifty day moving average is $211.27. The company has a quick ratio of 8.54, a current ratio of 10.26 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $10.99 billion, a P/E ratio of 57.81 and a beta of 1.38.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, May 4th. The semiconductor company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.17. IPG Photonics had a net margin of 14.75% and a return on equity of 9.69%. The business had revenue of $345.59 million during the quarter, compared to the consensus estimate of $324.11 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 38.7% compared to the same quarter last year. As a group, research analysts forecast that IPG Photonics Co. will post 5.45 earnings per share for the current fiscal year.

IPG Photonics Profile

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 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; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

Read More: Debt-To-Equity Ratio

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Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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