Zurcher Kantonalbank Zurich Cantonalbank Sells 1,604 Shares of IPG Photonics Corporation (NASDAQ:IPGP)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in IPG Photonics Corporation (NASDAQ:IPGP) by 20.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,283 shares of the semiconductor company’s stock after selling 1,604 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IPG Photonics were worth $397,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Cerity Partners LLC lifted its holdings in IPG Photonics by 5.7% during the fourth quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company’s stock worth $222,000 after acquiring an additional 163 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of IPG Photonics by 4.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,274 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 194 shares during the period. Assetmark Inc. raised its stake in shares of IPG Photonics by 18.1% in the first quarter. Assetmark Inc. now owns 1,594 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 244 shares during the period. UMB Bank n.a. raised its stake in shares of IPG Photonics by 107.5% in the first quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 329 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of IPG Photonics by 11.6% in the fourth quarter. Bank of Montreal Can now owns 3,219 shares of the semiconductor company’s stock valued at $234,000 after buying an additional 335 shares during the period. Institutional investors own 93.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen upgraded IPG Photonics from a “sell” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus set a $72.00 target price on IPG Photonics in a research note on Monday, April 28th. Raymond James Financial lowered their target price on IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Sanford C. Bernstein upgraded IPG Photonics from a “market perform” rating to an “outperform” rating and set a $97.00 target price on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.00.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $75.26 on Friday. The stock has a market cap of $3.18 billion, a PE ratio of -15.36, a price-to-earnings-growth ratio of 21.40 and a beta of 0.88. IPG Photonics Corporation has a fifty-two week low of $48.59 and a fifty-two week high of $88.50. The stock has a fifty day moving average of $71.88 and a 200-day moving average of $65.79.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, August 5th. The semiconductor company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.20. The business had revenue of $250.72 million for the quarter, compared to analyst estimates of $228.20 million. IPG Photonics had a positive return on equity of 2.25% and a negative net margin of 22.77%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. On average, sell-side analysts predict that IPG Photonics Corporation will post 1.54 EPS for the current year.

IPG Photonics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.8%.

Insiders Place Their Bets

In other IPG Photonics news, Director Jeanmarie F. Desmond sold 1,360 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $76.24, for a total value of $103,686.40. Following the transaction, the director directly owned 9,740 shares in the company, valued at $742,577.60. This represents a 12.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 39.50% of the stock is owned by corporate insiders.

IPG Photonics Company 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.