Russell Investments Group Ltd. Reduces Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

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Russell Investments Group Ltd. trimmed its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 40.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,243 shares of the semiconductor company’s stock after selling 49,921 shares during the quarter. Russell Investments Group Ltd.’s holdings in IPG Photonics were worth $8,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Texas Permanent School Fund grew its stake in IPG Photonics by 1.9% during the 1st quarter. Texas Permanent School Fund now owns 6,411 shares of the semiconductor company’s stock valued at $707,000 after purchasing an additional 119 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in IPG Photonics by 3.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 3,525 shares of the semiconductor company’s stock valued at $389,000 after purchasing an additional 122 shares during the last quarter. Fifth Third Bancorp grew its stake in IPG Photonics by 47.2% during the 1st quarter. Fifth Third Bancorp now owns 393 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 126 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in IPG Photonics by 5.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,582 shares of the semiconductor company’s stock valued at $374,000 after purchasing an additional 128 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of IPG Photonics by 123.8% in the 1st quarter. Parallel Advisors LLC now owns 235 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 65.81% of the company’s stock.

In other IPG Photonics news, SVP Trevor Ness sold 1,755 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $145.16, for a total transaction of $254,755.80. Following the completion of the transaction, the senior vice president now owns 24,141 shares of the company’s stock, valued at $3,504,307.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Angelo P. Lopresti sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $160.00, for a total value of $640,000.00. Following the transaction, the senior vice president now directly owns 42,625 shares of the company’s stock, valued at approximately $6,820,000. The disclosure for this sale can be found here. Insiders have sold 51,055 shares of company stock valued at $7,826,126 in the last three months. Insiders own 33.90% of the company’s stock.

Several equities analysts have recently issued reports on the company. Piper Sandler reissued a “hold” rating and issued a $150.00 price objective on shares of IPG Photonics in a report on Thursday, February 13th. Stifel Nicolaus cut IPG Photonics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $181.00 to $151.00 in a report on Wednesday, January 29th. ValuEngine cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. Northcoast Research reissued a “neutral” rating on shares of IPG Photonics in a report on Tuesday, February 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Monday, March 23rd. Ten analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. IPG Photonics presently has an average rating of “Hold” and a consensus price target of $152.48.

NASDAQ IPGP opened at $157.39 on Friday. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 52.29 and a beta of 1.69. IPG Photonics Co. has a twelve month low of $98.04 and a twelve month high of $166.49. The company has a current ratio of 9.59, a quick ratio of 7.73 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average of $127.60 and a 200 day moving average of $133.67.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.52. The company had revenue of $249.20 million during the quarter, compared to analysts’ expectations of $231.74 million. IPG Photonics had a return on equity of 8.57% and a net margin of 12.93%. IPG Photonics’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. Equities analysts predict that IPG Photonics Co. will post 2.63 EPS for the current fiscal year.

About IPG Photonics

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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