Trexquant Investment LP Sells 7,835 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Trexquant Investment LP reduced its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 25.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,668 shares of the semiconductor company’s stock after selling 7,835 shares during the period. Trexquant Investment LP’s holdings in IPG Photonics were worth $2,460,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates increased its position in shares of IPG Photonics by 1,349.8% during the fourth quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock valued at $4,872,000 after purchasing an additional 41,791 shares during the period. ARGA Investment Management LP bought a new stake in shares of IPG Photonics during the fourth quarter valued at approximately $1,067,000. Schonfeld Strategic Advisors LLC increased its position in shares of IPG Photonics by 2,136.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 82,739 shares of the semiconductor company’s stock valued at $8,401,000 after purchasing an additional 79,039 shares during the period. Assenagon Asset Management S.A. increased its position in shares of IPG Photonics by 70.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 56,965 shares of the semiconductor company’s stock valued at $6,183,000 after purchasing an additional 23,595 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of IPG Photonics by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company’s stock valued at $308,587,000 after purchasing an additional 85,984 shares during the period. 93.79% of the stock is owned by institutional investors.

IPG Photonics Price Performance

Shares of NASDAQ:IPGP opened at $85.63 on Friday. The business’s fifty day moving average price is $87.83 and its two-hundred day moving average price is $93.79. IPG Photonics Co. has a fifty-two week low of $80.33 and a fifty-two week high of $141.85. The stock has a market capitalization of $3.90 billion, a price-to-earnings 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, beating analysts’ consensus estimates of $0.48 by $0.04. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The firm had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $255.53 million. During the same period in the prior year, the business posted $1.26 earnings per share. The business’s revenue was down 27.4% compared to the same quarter last year. Research analysts expect 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 repurchase plan on Tuesday, February 13th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $85.86, for a total value of $772,740.00. Following the transaction, the insider now owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $85.86, for a total value of $772,740.00. Following the transaction, the insider now owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric Meurice sold 788 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 16,491 shares in the company, valued at approximately $1,472,646.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,788 shares of company stock valued at $1,738,708. 38.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Stifel Nicolaus lowered their price objective on IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Citigroup lowered their price objective 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. StockNews.com cut IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Finally, Benchmark lowered their price target on IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.40.

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.