Vanguard Group Inc. lowered its position in shares of IPG Photonics Corporation (NASDAQ:IPGP – Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,845,555 shares of the semiconductor company’s stock after selling 159,012 shares during the quarter. Vanguard Group Inc. owned 6.66% of IPG Photonics worth $179,668,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Larson Financial Group LLC bought a new position in IPG Photonics during the first quarter valued at about $39,000. UMB Bank n.a. boosted its position in shares of IPG Photonics by 107.5% in the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 329 shares during the period. Assetmark Inc. boosted its position in shares of IPG Photonics by 18.1% in the 1st quarter. Assetmark Inc. now owns 1,594 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 244 shares during the period. Sterling Capital Management LLC boosted its position in shares of IPG Photonics by 52.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 572 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of IPG Photonics by 90.7% in the 1st quarter. Versant Capital Management Inc now owns 1,819 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 865 shares during the period. Institutional investors own 93.79% of the company’s stock.
IPG Photonics Price Performance
IPGP opened at $77.07 on Wednesday. IPG Photonics Corporation has a fifty-two week low of $48.59 and a fifty-two week high of $88.50. The business has a 50-day moving average of $73.27 and a 200-day moving average of $65.95. The company has a market capitalization of $3.25 billion, a PE ratio of -15.73, a price-to-earnings-growth ratio of 22.59 and a beta of 0.88.
IPG Photonics Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.7%.
Insider Buying and Selling at IPG Photonics
In other news, Director Jeanmarie F. Desmond sold 1,360 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $76.24, for a total transaction of $103,686.40. Following the completion of the sale, the director directly owned 9,740 shares of the company’s stock, valued at $742,577.60. This trade represents a 12.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 39.50% of the stock is owned by company insiders.
Analyst Ratings Changes
IPGP has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $72.00 price target on IPG Photonics in a research report on Monday, April 28th. Sanford C. Bernstein upgraded IPG Photonics from a “market perform” rating to an “outperform” rating and set a $97.00 price target for the company in a research report on Thursday, August 7th. Raymond James Financial reduced their price objective on 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, Wall Street Zen raised IPG Photonics from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, IPG Photonics has an average rating of “Moderate Buy” and a consensus target price of $75.00.
View Our Latest Research Report on IPGP
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.
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