KLP Kapitalforvaltning AS Has $316,000 Stock Holdings in IPG Photonics Corporation (NASDAQ:IPGP)

by · The Markets Daily

KLP Kapitalforvaltning AS decreased its position in shares of IPG Photonics Corporation (NASDAQ:IPGP – Free Report) by 21.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,000 shares of the semiconductor company’s stock after selling 1,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in IPG Photonics were worth $316,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in IPG Photonics by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock worth $98,335,000 after buying an additional 173,584 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in IPG Photonics by 0.9% during the 4th quarter. Lazard Asset Management LLC now owns 1,069,193 shares of the semiconductor company’s stock worth $77,751,000 after buying an additional 9,852 shares in the last quarter. First Trust Advisors LP lifted its holdings in IPG Photonics by 35.1% during the 4th quarter. First Trust Advisors LP now owns 343,208 shares of the semiconductor company’s stock worth $24,958,000 after buying an additional 89,237 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in IPG Photonics by 65.1% during the 4th quarter. Ameriprise Financial Inc. now owns 298,845 shares of the semiconductor company’s stock worth $21,732,000 after buying an additional 117,846 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of IPG Photonics by 19.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 272,454 shares of the semiconductor company’s stock valued at $17,203,000 after purchasing an additional 44,712 shares during the period. Institutional investors and hedge funds own 93.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen raised IPG Photonics from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Stifel Nicolaus set a $72.00 price target on IPG Photonics in a research note on Monday, April 28th. Finally, Raymond James Financial cut their price target on IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IPG Photonics currently has a consensus rating of “Hold” and an average target price of $69.50.

Read Our Latest Stock Analysis on IPG Photonics

IPG Photonics Trading Down 2.8%

Shares of IPG Photonics stock opened at $74.89 on Friday. The company has a market capitalization of $3.19 billion, a PE ratio of -16.25, a PEG ratio of 12.41 and a beta of 0.90. IPG Photonics Corporation has a 12 month low of $48.59 and a 12 month high of $88.50. The stock’s fifty day simple moving average is $70.80 and its 200 day simple moving average is $65.75.

IPG Photonics (NASDAQ:IPGP – Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. The business had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. IPG Photonics had a positive return on equity of 2.56% and a negative net margin of 21.18%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. Analysts predict that IPG Photonics Corporation will post 1.54 EPS for the current fiscal year.

IPG Photonics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.8%.

IPG Photonics Profile

(Free Report)

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.

Further Reading

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