abrdn plc Has $999,000 Position in IPG Photonics Co. (NASDAQ:IPGP)

abrdn plc reduced its stake in IPG Photonics Co. (NASDAQ:IPGPGet Rating) by 16.2% during the first quarter, HoldingsChannel reports. The firm owned 8,947 shares of the semiconductor company’s stock after selling 1,727 shares during the quarter. abrdn plc’s holdings in IPG Photonics were worth $999,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Trillium Asset Management LLC boosted its stake in shares of IPG Photonics by 5.3% in the 1st quarter. Trillium Asset Management LLC now owns 195,067 shares of the semiconductor company’s stock valued at $21,411,000 after purchasing an additional 9,894 shares in the last quarter. Arizona State Retirement System boosted its position in IPG Photonics by 1.9% during the 1st quarter. Arizona State Retirement System now owns 10,387 shares of the semiconductor company’s stock worth $1,140,000 after buying an additional 190 shares during the period. Cove Street Capital LLC acquired a new stake in IPG Photonics during the 1st quarter worth approximately $1,395,000. Signaturefd LLC boosted its position in IPG Photonics by 174.3% during the 1st quarter. Signaturefd LLC now owns 384 shares of the semiconductor company’s stock worth $42,000 after buying an additional 244 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in IPG Photonics by 5.1% during the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 38,444 shares of the semiconductor company’s stock worth $4,220,000 after buying an additional 1,871 shares during the period. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $157.00 target price on the stock in a research report on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $173.86.

IPG Photonics Stock Down 4.7 %

IPG Photonics stock opened at $102.64 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.42 and a current ratio of 8.16. IPG Photonics Co. has a 52-week low of $82.68 and a 52-week high of $220.51. The firm has a 50 day moving average price of $97.33 and a two-hundred day moving average price of $111.39. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 5.30 and a beta of 1.36.

IPG Photonics (NASDAQ:IPGPGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). IPG Photonics had a return on equity of 10.27% and a net margin of 18.84%. The firm had revenue of $377.02 million for the quarter, compared to the consensus estimate of $373.26 million. During the same quarter in the previous year, the business posted $1.33 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts predict that IPG Photonics Co. will post 4.71 EPS for the current year.

Insider Activity

In related news, CFO Timothy Pv Mammen acquired 3,000 shares of the stock in a transaction dated Thursday, June 16th. The stock was bought at an average price of $83.54 per share, for a total transaction of $250,620.00. Following the purchase, the chief financial officer now directly owns 53,493 shares of the company’s stock, valued at approximately $4,468,805.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 33.50% of the stock is currently owned by company insiders.

IPG Photonics Company Profile

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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. The company's 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.

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

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