IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by American International Group Inc.

American International Group Inc. lowered its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 5.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 39,934 shares of the semiconductor company’s stock after selling 2,110 shares during the quarter. American International Group Inc.’s holdings in IPG Photonics were worth $4,334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invenomic Capital Management LP lifted its position in IPG Photonics by 123.5% during the 4th quarter. Invenomic Capital Management LP now owns 216,978 shares of the semiconductor company’s stock worth $23,551,000 after acquiring an additional 119,900 shares during the period. KBC Group NV lifted its holdings in shares of IPG Photonics by 6.2% in the 4th quarter. KBC Group NV now owns 5,199 shares of the semiconductor company’s stock valued at $564,000 after buying an additional 302 shares during the period. Evoke Wealth LLC acquired a new position in shares of IPG Photonics in the 4th quarter valued at about $1,640,000. TFO Wealth Partners LLC lifted its holdings in shares of IPG Photonics by 38,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 1,140 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of IPG Photonics by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 13,300 shares of the semiconductor company’s stock valued at $1,444,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 93.79% of the company’s stock.

IPG Photonics Trading Up 2.2 %

NASDAQ IPGP opened at $83.35 on Friday. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 21.48 and a beta of 1.08. IPG Photonics Co. has a twelve month low of $80.27 and a twelve month high of $141.85. The stock has a 50-day moving average of $86.34 and a 200 day moving average of $92.44.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IPGP shares. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Benchmark decreased their price objective on IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Citigroup reduced their price target on IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.40.

Insiders Place Their Bets

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $645,691,686.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the sale, the director now directly owns 4,319 shares in the company, valued at approximately $367,978.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.56, for a total value of $895,600.00. Following the sale, the insider now 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. In the last three months, insiders sold 20,773 shares of company stock worth $1,822,630. Corporate insiders own 38.00% of the company’s stock.

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.