BlackRock Inc. lowered its stake in IPG Photonics Co. (NASDAQ:IPGP) by 26.2% during the first quarter, HoldingsChannel.com reports. The firm owned 2,858,275 shares of the semiconductor company’s stock after selling 1,016,339 shares during the period. BlackRock Inc. owned approximately 0.05% of IPG Photonics worth $667,065,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of IPG Photonics in the 4th quarter valued at $101,000. Wolverine Asset Management LLC acquired a new position in shares of IPG Photonics in the 4th quarter valued at $102,000. MUFG Americas Holdings Corp lifted its stake in shares of IPG Photonics by 122.5% in the 4th quarter. MUFG Americas Holdings Corp now owns 485 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 267 shares during the period. C M Bidwell & Associates Ltd. lifted its stake in shares of IPG Photonics by 114.3% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 600 shares of the semiconductor company’s stock valued at $128,000 after purchasing an additional 320 shares during the period. Finally, Tiverton Asset Management LLC acquired a new position in shares of IPG Photonics in the 1st quarter valued at $171,000. 57.16% of the stock is currently owned by institutional investors.

A number of analysts recently commented on IPGP shares. BidaskClub upgraded shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 12th. Sanford C. Bernstein started coverage on shares of IPG Photonics in a research report on Wednesday, April 18th. They issued an “outperform” rating and a $294.00 price objective for the company. Zacks Investment Research cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. ValuEngine upgraded shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Finally, Benchmark restated a “buy” rating and issued a $262.00 price objective on shares of IPG Photonics in a research report on Monday, May 21st. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $239.10.

IPGP opened at $241.27 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.54 and a quick ratio of 7.71. IPG Photonics Co. has a 12 month low of $136.60 and a 12 month high of $264.11. The firm has a market capitalization of $13.35 billion, a P/E ratio of 33.23, a PEG ratio of 2.44 and a beta of 1.85.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, May 1st. The semiconductor company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.13. The business had revenue of $359.90 million during the quarter, compared to analysts’ expectations of $346.35 million. IPG Photonics had a net margin of 25.56% and a return on equity of 21.59%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. sell-side analysts forecast that IPG Photonics Co. will post 8.48 earnings per share for the current fiscal year.

In other IPG Photonics news, Director William S. Hurley sold 3,500 shares of the stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $255.93, for a total transaction of $895,755.00. Following the completion of the transaction, the director now owns 14,505 shares in the company, valued at approximately $3,712,264.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 2,000 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $245.63, for a total value of $491,260.00. Following the transaction, the insider now owns 7,565,999 shares of the company’s stock, valued at approximately $1,858,436,334.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,755 shares of company stock valued at $12,683,139. Corporate insiders own 33.80% of the company’s stock.

IPG Photonics Company Profile

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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