IPG Photonics Co. (NASDAQ:IPGP) Position Reduced by Federated Hermes Inc.

Federated Hermes Inc. decreased its stake in shares of IPG Photonics Co. (NASDAQ:IPGPFree Report) by 20.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,102 shares of the semiconductor company’s stock after selling 11,178 shares during the period. Federated Hermes Inc. owned approximately 0.09% of IPG Photonics worth $4,478,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of IPG Photonics by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,849,934 shares of the semiconductor company’s stock valued at $422,568,000 after purchasing an additional 24,859 shares in the last quarter. BlackRock Inc. boosted its position in shares of IPG Photonics by 1.5% during the 1st quarter. BlackRock Inc. now owns 2,559,937 shares of the semiconductor company’s stock valued at $280,980,000 after purchasing an additional 37,842 shares in the last quarter. Invesco Ltd. boosted its position in shares of IPG Photonics by 18.9% during the 1st quarter. Invesco Ltd. now owns 1,701,795 shares of the semiconductor company’s stock valued at $186,788,000 after purchasing an additional 270,190 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of IPG Photonics by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 799,639 shares of the semiconductor company’s stock valued at $98,600,000 after purchasing an additional 9,692 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of IPG Photonics by 1.3% during the 1st quarter. Lazard Asset Management LLC now owns 687,546 shares of the semiconductor company’s stock valued at $75,465,000 after purchasing an additional 8,539 shares in the last quarter. Institutional investors and hedge funds own 59.07% of the company’s stock.

Insider Activity at IPG Photonics

In other news, Director Eric Meurice sold 629 shares of IPG Photonics stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total value of $62,900.00. Following the transaction, the director now owns 16,491 shares of the company’s stock, valued at $1,649,100. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Eric Meurice sold 629 shares of IPG Photonics stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total value of $62,900.00. Following the transaction, the director now owns 16,491 shares of the company’s stock, valued at $1,649,100. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $85.68, for a total transaction of $856,800.00. Following the completion of the transaction, the insider now directly owns 7,219,599 shares in the company, valued at approximately $618,575,242.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,879 shares of company stock valued at $1,740,410. 37.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IPGP. Citigroup lowered shares of IPG Photonics from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $111.00 to $74.00 in a research report on Thursday, February 15th. Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a report on Thursday, January 25th. StockNews.com cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Finally, Stifel Nicolaus decreased their target price on shares of IPG Photonics from $130.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IPG Photonics currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.20.

Check Out Our Latest Research Report on IPG Photonics

IPG Photonics Stock Performance

Shares of IPGP opened at $85.66 on Thursday. The firm has a market cap of $3.95 billion, a PE ratio of 18.54, a PEG ratio of 15.55 and a beta of 1.24. The firm’s 50 day moving average price is $98.90 and its 200 day moving average price is $98.24. IPG Photonics Co. has a twelve month low of $83.00 and a twelve month high of $141.85.

IPG Photonics (NASDAQ:IPGPGet Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.06). The business had revenue of $298.89 million for the quarter, compared to the consensus estimate of $287.03 million. IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. IPG Photonics’s revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.91) EPS. On average, sell-side analysts anticipate that IPG Photonics Co. will post 3.56 earnings per share for the current fiscal year.

IPG Photonics declared that its Board of Directors has initiated a share buyback program on Tuesday, February 13th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 7.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

IPG Photonics Profile

(Free Report)

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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