IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Man Group plc

Man Group plc lowered its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 57.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,861 shares of the semiconductor company’s stock after selling 25,082 shares during the period. Man Group plc’s holdings in IPG Photonics were worth $1,372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in IPG Photonics by 42.5% in the third quarter. Barclays PLC now owns 38,787 shares of the semiconductor company’s stock valued at $2,883,000 after purchasing an additional 11,562 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in IPG Photonics by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company’s stock valued at $26,879,000 after purchasing an additional 19,307 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in IPG Photonics by 30.1% in the fourth quarter. Fisher Asset Management LLC now owns 249,830 shares of the semiconductor company’s stock valued at $18,168,000 after purchasing an additional 57,780 shares during the last quarter. Pacific Heights Asset Management LLC boosted its holdings in IPG Photonics by 375.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company’s stock valued at $22,107,000 after purchasing an additional 240,000 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in IPG Photonics by 1,076.7% in the fourth quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company’s stock valued at $6,826,000 after purchasing an additional 85,889 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Down 1.4%

Shares of NASDAQ IPGP opened at $64.60 on Friday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -15.45 and a beta of 0.92. IPG Photonics Co. has a 12-month low of $48.59 and a 12-month high of $92.21. The stock’s 50 day simple moving average is $59.87 and its 200 day simple moving average is $67.58.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. The business had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. The business’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. As a group, equities analysts forecast that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.04%.

Analyst Upgrades and Downgrades

IPGP has been the topic of a number of research analyst reports. Citigroup reduced their target price on IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus set a $72.00 target price on IPG Photonics in a report on Monday, April 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. CL King raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Tuesday, March 18th. Finally, Wall Street Zen raised IPG Photonics from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IPG Photonics presently has an average rating of “Hold” and an average target price of $69.50.

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.