M&G PLC Sells 18,992 Shares of IPG Photonics Corporation $IPGP

M&G PLC reduced its stake in IPG Photonics Corporation (NASDAQ:IPGP) by 3.2% during the third quarter, Holdings Channel.com reports. The fund owned 577,449 shares of the semiconductor company’s stock after selling 18,992 shares during the quarter. M&G PLC’s holdings in IPG Photonics were worth $45,041,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IPGP. BlackRock Inc. purchased a new stake in shares of IPG Photonics in the second quarter valued at approximately $334,429,000. Sumitomo Mitsui Trust Group Inc. raised its position in IPG Photonics by 50.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,055,687 shares of the semiconductor company’s stock valued at $160,919,000 after purchasing an additional 693,572 shares in the last quarter. State Street Corp raised its position in IPG Photonics by 11.0% during the 2nd quarter. State Street Corp now owns 909,287 shares of the semiconductor company’s stock valued at $106,678,000 after purchasing an additional 90,028 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of IPG Photonics by 11.1% in the 1st quarter. Segall Bryant & Hamill LLC now owns 469,471 shares of the semiconductor company’s stock worth $53,797,000 after buying an additional 46,935 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of IPG Photonics in the 2nd quarter worth $35,113,000. 93.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IPGP shares. Citigroup decreased their price objective on IPG Photonics from $137.00 to $135.00 and set a “buy” rating for the company in a research note on Monday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $92.00 target price on shares of IPG Photonics in a report on Thursday. UBS Group reissued a “buy” rating on shares of IPG Photonics in a research report on Thursday. Needham & Company LLC lowered their price target on shares of IPG Photonics from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of IPG Photonics in a research report on Monday, September 21st. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, IPG Photonics presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.33.

Insider Transactions at IPG Photonics

In related news, major shareholder Valentin Gapontsev Trust I sold 18,091 shares of IPG Photonics stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $75.14, for a total transaction of $1,359,357.74. Following the completion of the sale, the insider owned 6,652,192 shares of the company’s stock, valued at $499,845,706.88. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Fibre Devices Ltd Ip sold 15,361 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $85.64, for a total value of $1,315,516.04. Following the completion of the sale, the insider owned 6,390,628 shares in the company, valued at approximately $547,293,381.92. This represents a 0.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 66,458 shares of company stock valued at $5,194,276. 37.50% of the stock is owned by company insiders.

IPG Photonics Trading Up 8.2%

NASDAQ IPGP opened at $70.67 on Tuesday. The stock has a market cap of $3.00 billion, a P/E ratio of 36.14, a P/E/G ratio of 1.68 and a beta of 1.00. IPG Photonics Corporation has a 12-month low of $61.59 and a 12-month high of $155.82. The company has a fifty day simple moving average of $75.82 and a two-hundred day simple moving average of $100.48.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, November 3rd. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.12. The firm had revenue of $287.50 million for the quarter, compared to the consensus estimate of $283.31 million. IPG Photonics had a return on equity of 3.91% and a net margin of 3.65%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. As a group, sell-side analysts forecast that IPG Photonics Corporation will post 1.89 earnings per share for the current year.

IPG Photonics Company Profile