Allspring Global Investments Holdings LLC Takes $4.53 Million Position in IPG Photonics Co. (NASDAQ:IPGP)

Allspring Global Investments Holdings LLC acquired a new stake in IPG Photonics Co. (NASDAQ:IPGP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 50,000 shares of the semiconductor company’s stock, valued at approximately $4,534,000. Allspring Global Investments Holdings LLC owned approximately 0.11% of IPG Photonics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. VisionPoint Advisory Group LLC lifted its position in IPG Photonics by 127.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 145 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in IPG Photonics during the 4th quarter worth approximately $40,000. Disciplined Equity Management Inc. acquired a new position in IPG Photonics during the 4th quarter worth approximately $43,000. AM Squared Ltd lifted its position in IPG Photonics by 200.0% during the 4th quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 400 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in IPG Photonics during the 1st quarter worth approximately $67,000. 93.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $85.86, for a total value of $772,740.00. Following the sale, the insider now directly owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total value of $83,922.00. Following the completion of the transaction, the director now owns 4,319 shares of the company’s stock, valued at $367,978.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total value of $772,740.00. Following the transaction, the insider now directly owns 7,200,599 shares of the company’s stock, valued at approximately $618,243,430.14. The disclosure for this sale can be found here. Insiders have sold 10,773 shares of company stock valued at $927,030 over the last three months. Company insiders own 38.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IPGP. Benchmark reduced their price target on IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Citigroup dropped their price objective on IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, IPG Photonics currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.40.

IPG Photonics Trading Up 1.3 %

IPGP stock traded up $1.06 during midday trading on Tuesday, hitting $84.39. 14,311 shares of the company’s stock were exchanged, compared to its average volume of 270,710. IPG Photonics Co. has a 12-month low of $80.27 and a 12-month high of $141.85. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 21.48 and a beta of 1.01. The firm has a 50 day moving average price of $86.13 and a 200-day moving average price of $91.61.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, beating 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 business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $255.53 million. During the same period in the previous year, the business earned $1.26 EPS. The business’s quarterly revenue was down 27.4% on a year-over-year basis. On average, sell-side analysts forecast 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.