Cerity Partners LLC Purchases 5,269 Shares of IPG Photonics Corporation (NASDAQ:IPGP)

Cerity Partners LLC grew its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 173.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,299 shares of the semiconductor company’s stock after acquiring an additional 5,269 shares during the quarter. Cerity Partners LLC’s holdings in IPG Photonics were worth $524,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in shares of IPG Photonics by 1,076.7% during the 4th quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company’s stock valued at $6,826,000 after acquiring an additional 85,889 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of IPG Photonics during the 1st quarter valued at about $343,000. Wealth Enhancement Advisory Services LLC boosted its holdings 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 acquiring an additional 8,294 shares during the last quarter. Retirement Systems of Alabama boosted 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 during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of IPG Photonics during the 4th quarter valued at about $298,000. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Up 3.2%

IPGP opened at $78.03 on Friday. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -16.93, a PEG ratio of 12.18 and a beta of 0.90. The company’s 50 day moving average is $69.85 and its 200 day moving average is $65.63. IPG Photonics Corporation has a 12-month low of $48.59 and a 12-month high of $88.78.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was down 9.6% compared to the same quarter last year. As a group, analysts predict that IPG Photonics Corporation will post 1.54 EPS for the current fiscal year.

IPG Photonics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.69%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IPGP shares. Wall Street Zen raised shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a report on Monday, April 28th. Finally, Raymond James Financial dropped their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, May 7th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $69.50.

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.