Bank of New York Mellon Corp Cuts Stock Holdings in IPG Photonics Corporation (NASDAQ:IPGP)

Bank of New York Mellon Corp lessened its holdings in IPG Photonics Corporation (NASDAQ:IPGP) by 7.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,215 shares of the semiconductor company’s stock after selling 18,805 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.54% of IPG Photonics worth $14,536,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in IPG Photonics in the first quarter valued at about $241,000. Retirement Systems of Alabama lifted its holdings in shares of IPG Photonics by 20.5% during the 1st quarter. Retirement Systems of Alabama now owns 215,573 shares of the semiconductor company’s stock valued at $13,611,000 after acquiring an additional 36,648 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in IPG Photonics by 3.3% during the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 78,501 shares of the semiconductor company’s stock worth $4,957,000 after buying an additional 2,505 shares during the period. Exchange Traded Concepts LLC increased its position in shares of IPG Photonics by 19.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 272,454 shares of the semiconductor company’s stock worth $17,203,000 after purchasing an additional 44,712 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of IPG Photonics by 194.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,568 shares of the semiconductor company’s stock valued at $794,000 after buying an additional 8,294 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on IPGP shares. Wall Street Zen raised shares of IPG Photonics from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Raymond James Financial reduced their target price on shares of IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $69.50.

IPG Photonics Trading Up 0.3%

NASDAQ IPGP opened at $74.63 on Friday. The firm’s fifty day moving average price is $68.80 and its two-hundred day moving average price is $65.50. IPG Photonics Corporation has a 1 year low of $48.59 and a 1 year high of $90.53. The firm has a market capitalization of $3.17 billion, a P/E ratio of -16.19, a price-to-earnings-growth ratio of 12.02 and a beta of 0.90.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. IPG Photonics had a negative net margin of 21.18% and a positive return on equity of 2.56%. The firm had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. On average, research analysts anticipate that IPG Photonics Corporation will post 1.54 EPS for the current fiscal year.

IPG Photonics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.77%.

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.