Seven Eight Capital LP Purchases New Stake in IPG Photonics Co. (NASDAQ:IPGP)

Seven Eight Capital LP purchased a new stake in IPG Photonics Co. (NASDAQ:IPGP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,880 shares of the semiconductor company’s stock, valued at approximately $443,000.

A number of other large investors have also added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. acquired a new position in IPG Photonics in the 4th quarter valued at $40,000. Disciplined Equity Management Inc. acquired a new position in IPG Photonics in the 4th quarter valued at $43,000. AM Squared Ltd grew its holdings in IPG Photonics by 200.0% in the 4th quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 400 shares in the last quarter. Mather Group LLC. acquired a new position in IPG Photonics in the 1st quarter valued at $67,000. Finally, Janiczek Wealth Management LLC grew its holdings in IPG Photonics by 23.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 930 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 179 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Performance

Shares of IPGP traded down $1.15 during mid-day trading on Wednesday, reaching $87.91. 204,175 shares of the company were exchanged, compared to its average volume of 266,642. The stock has a market capitalization of $4.01 billion, a PE ratio of 22.66 and a beta of 1.01. The business has a 50 day simple moving average of $86.03 and a two-hundred day simple moving average of $89.36. IPG Photonics Co. has a 52 week low of $80.27 and a 52 week high of $132.99.

IPG Photonics (NASDAQ:IPGP) last issued its 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 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 company posted $1.26 earnings per share. The firm’s revenue for the quarter was down 27.4% on a year-over-year basis. On average, analysts predict that IPG Photonics Co. will post 2.77 EPS for the current year.

Insider Activity at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 985 shares of IPG Photonics stock in a transaction 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 sale, the director now directly owns 4,319 shares in the company, valued at $367,978.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other IPG Photonics news, Director Eric Meurice sold 788 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $89.30, for a total value of $70,368.40. Following the sale, the director now directly owns 16,491 shares in the company, valued at $1,472,646.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total value of $83,922.00. Following the sale, the director now owns 4,319 shares in the company, valued at $367,978.80. The disclosure for this sale can be found here. 38.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Citigroup reduced 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. Finally, Benchmark reduced 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 investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.40.

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.