BNP Paribas Financial Markets Buys 11,422 Shares of IPG Photonics Co. (NASDAQ:IPGP)

BNP Paribas Financial Markets raised its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 171.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,071 shares of the semiconductor company’s stock after purchasing an additional 11,422 shares during the quarter. BNP Paribas Financial Markets’ holdings in IPG Photonics were worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of IPGP. Arizona State Retirement System raised its position in IPG Photonics by 1.4% during the third quarter. Arizona State Retirement System now owns 8,755 shares of the semiconductor company’s stock valued at $889,000 after purchasing an additional 118 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of IPG Photonics by 1.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 10,302 shares of the semiconductor company’s stock valued at $1,118,000 after buying an additional 123 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in IPG Photonics by 18.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock worth $102,000 after buying an additional 143 shares during the last quarter. VisionPoint Advisory Group LLC boosted its stake in IPG Photonics by 127.2% in the third quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock worth $26,000 after buying an additional 145 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its position in IPG Photonics by 23.8% during the fourth quarter. Janiczek Wealth Management LLC now owns 930 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Price Performance

NASDAQ IPGP opened at $85.63 on Friday. IPG Photonics Co. has a 1-year low of $80.33 and a 1-year high of $141.85. The business has a 50 day simple moving average of $87.83 and a two-hundred day simple moving average of $93.79. The stock has a market capitalization of $3.90 billion, a PE ratio of 22.07 and a beta of 1.17.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The company had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $255.53 million. During the same quarter in the previous year, the business posted $1.26 earnings per share. IPG Photonics’s quarterly revenue was down 27.4% on a year-over-year basis. On average, analysts anticipate that IPG Photonics Co. will post 2.77 EPS for the current fiscal year.

IPG Photonics declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 13th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

IPGP has been the subject of a number of recent research reports. Benchmark lowered their price objective on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st. Citigroup dropped their target price on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. StockNews.com cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Finally, Stifel Nicolaus reduced their price target on IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. One research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.40.

Insider Activity at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.56, for a total transaction of $895,600.00. Following the sale, the insider now directly owns 7,209,599 shares of the company’s stock, valued at $645,691,686.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $89.56, for a total value of $895,600.00. Following the completion of the sale, the insider now owns 7,209,599 shares in the company, valued at approximately $645,691,686.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Meurice sold 788 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $89.30, for a total value of $70,368.40. Following the transaction, 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. In the last quarter, insiders sold 19,788 shares of company stock valued at $1,738,708. Insiders own 38.00% of the company’s stock.

IPG Photonics Profile

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.