Russell Investments Group Ltd. decreased its position in IPG Photonics Co. (NASDAQ:IPGP) by 40.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,243 shares of the semiconductor company’s stock after selling 49,921 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of IPG Photonics worth $8,060,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Great Diamond Partners LLC bought a new position in shares of IPG Photonics in the fourth quarter worth about $123,000. State Street Corp raised its stake in shares of IPG Photonics by 2.0% in the fourth quarter. State Street Corp now owns 1,450,925 shares of the semiconductor company’s stock worth $210,268,000 after buying an additional 28,588 shares during the period. Geode Capital Management LLC raised its stake in shares of IPG Photonics by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 615,351 shares of the semiconductor company’s stock worth $89,014,000 after buying an additional 16,188 shares during the period. M&G Investment Management Ltd. bought a new position in shares of IPG Photonics in the fourth quarter worth about $3,897,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of IPG Photonics by 37.7% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,775 shares of the semiconductor company’s stock worth $1,272,000 after purchasing an additional 2,404 shares in the last quarter. 65.81% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on IPGP. Citigroup increased their target price on IPG Photonics from $168.10 to $173.80 and gave the stock a “buy” rating in a research report on Friday, February 14th. Northcoast Research reiterated a “neutral” rating on shares of IPG Photonics in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Monday, March 23rd. Piper Sandler reiterated a “hold” rating and set a $150.00 target price on shares of IPG Photonics in a research report on Thursday, February 13th. Finally, Stifel Nicolaus cut IPG Photonics from a “buy” rating to a “hold” rating and cut their target price for the stock from $181.00 to $151.00 in a research report on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $152.48.

NASDAQ IPGP opened at $157.39 on Friday. The stock has a market capitalization of $8.26 billion, a PE ratio of 52.29 and a beta of 1.69. The business has a 50 day simple moving average of $127.60 and a two-hundred day simple moving average of $133.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.59 and a quick ratio of 7.73. IPG Photonics Co. has a 1-year low of $98.04 and a 1-year high of $166.49.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.52. The business had revenue of $249.20 million during the quarter, compared to analysts’ expectations of $231.74 million. IPG Photonics had a return on equity of 8.57% and a net margin of 12.93%. The firm’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. On average, analysts anticipate that IPG Photonics Co. will post 2.63 EPS for the current fiscal year.

In other news, SVP Angelo P. Lopresti sold 4,000 shares of IPG Photonics stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $160.00, for a total value of $640,000.00. Following the completion of the transaction, the senior vice president now owns 42,625 shares in the company, valued at approximately $6,820,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Trevor Ness sold 1,755 shares of IPG Photonics stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $145.16, for a total value of $254,755.80. Following the completion of the transaction, the senior vice president now owns 24,141 shares of the company’s stock, valued at approximately $3,504,307.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,055 shares of company stock valued at $7,826,126. Company insiders own 33.90% of the company’s stock.

About IPG Photonics

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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