Fisher Asset Management LLC Sells 264 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Fisher Asset Management LLC trimmed its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 0.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 176,095 shares of the semiconductor company’s stock after selling 264 shares during the quarter. Fisher Asset Management LLC’s holdings in IPG Photonics were worth $19,113,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of IPG Photonics during the 4th quarter worth approximately $36,365,000. Raymond James & Associates lifted its holdings in shares of IPG Photonics by 1,349.8% in the 4th quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock worth $4,872,000 after purchasing an additional 41,791 shares in the last quarter. Evoke Wealth LLC bought a new position in shares of IPG Photonics in the 4th quarter worth $1,640,000. ARGA Investment Management LP bought a new position in shares of IPG Photonics in the 4th quarter worth $1,067,000. Finally, Invenomic Capital Management LP lifted its holdings in shares of IPG Photonics by 123.5% in the 4th quarter. Invenomic Capital Management LP now owns 216,978 shares of the semiconductor company’s stock worth $23,551,000 after purchasing an additional 119,900 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.56, for a total transaction of $895,600.00. Following the completion of the sale, the insider now directly owns 7,209,599 shares of the company’s stock, valued at approximately $645,691,686.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Eric Meurice sold 788 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the sale, the director now directly owns 16,491 shares of the company’s stock, valued at approximately $1,472,646.30. The sale 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 the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $89.56, for a total value of $895,600.00. Following the sale, the insider now directly owns 7,209,599 shares of the company’s stock, valued at $645,691,686.44. The disclosure for this sale can be found here. Insiders sold a total of 20,773 shares of company stock valued at $1,822,630 in the last ninety days. 38.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on IPGP. Citigroup cut their target price on IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Finally, Benchmark cut their target price on IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, IPG Photonics has an average rating of “Moderate Buy” and a consensus price target of $110.40.

IPG Photonics Trading Down 4.1 %

NASDAQ IPGP opened at $82.71 on Wednesday. The firm has a market capitalization of $3.77 billion, a P/E ratio of 21.32 and a beta of 1.08. The business has a fifty day simple moving average of $86.65 and a 200 day simple moving average of $92.72. IPG Photonics Co. has a 12 month low of $80.33 and a 12 month high of $141.85.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $252.00 million during the quarter, compared to analyst estimates of $255.53 million. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. IPG Photonics’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. As a group, sell-side analysts predict that IPG Photonics Co. will post 2.77 EPS for the current fiscal year.

About IPG Photonics

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.