Quadrature Capital Ltd Invests $1.20 Million in IPG Photonics Co. (NASDAQ:IPGP)

Quadrature Capital Ltd purchased a new position in shares of IPG Photonics Co. (NASDAQ:IPGP) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,243 shares of the semiconductor company’s stock, valued at approximately $1,201,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Channing Capital Management LLC purchased a new stake in IPG Photonics during the 4th quarter worth about $70,719,000. Norges Bank purchased a new stake in IPG Photonics in the 4th quarter valued at about $36,365,000. New York State Common Retirement Fund grew its holdings in shares of IPG Photonics by 636.6% during the 4th quarter. New York State Common Retirement Fund now owns 204,502 shares of the semiconductor company’s stock worth $22,197,000 after purchasing an additional 176,739 shares during the period. M&G Plc purchased a new stake in shares of IPG Photonics during the 1st quarter worth about $15,929,000. Finally, Artisan Partners Limited Partnership acquired a new position in IPG Photonics during the 4th quarter worth approximately $16,035,000. Institutional investors and hedge funds own 93.79% of the company’s stock.

IPG Photonics Trading Up 1.3 %

IPGP stock traded up $1.10 during mid-day trading on Friday, hitting $86.59. The stock had a trading volume of 227,821 shares, compared to its average volume of 215,190. IPG Photonics Co. has a 1-year low of $80.27 and a 1-year high of $132.99. The company has a fifty day moving average of $85.88 and a 200 day moving average of $89.21. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 22.32 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data 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 for 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%. The firm’s revenue for the quarter was down 27.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 EPS. As a group, sell-side analysts expect that IPG Photonics Co. will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeanmarie F. Desmond sold 985 shares of the 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 owns 4,319 shares in the company, valued at approximately $367,978.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jeanmarie F. Desmond sold 985 shares of the 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 owns 4,319 shares in the company, valued at approximately $367,978.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric Meurice sold 788 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 16,491 shares of the company’s stock, valued at approximately $1,472,646.30. The disclosure for this sale can be found here. 38.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have 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 research report on Thursday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st. Finally, Benchmark decreased their price target on IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, IPG Photonics has a consensus rating of “Moderate Buy” and a consensus price target 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.