Fisher Asset Management LLC Sells 264 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Fisher Asset Management LLC decreased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,095 shares of the semiconductor company’s stock after selling 264 shares during the quarter. Fisher Asset Management LLC owned about 0.38% of IPG Photonics worth $19,113,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC lifted 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 valued at $26,000 after buying an additional 145 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in IPG Photonics in the fourth quarter valued at approximately $40,000. Disciplined Equity Management Inc. bought a new position in IPG Photonics in the fourth quarter valued at approximately $43,000. AM Squared Ltd lifted its stake in IPG Photonics by 200.0% in the fourth quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 400 shares in the last quarter. Finally, Orion Capital Management LLC bought a new position in IPG Photonics in the third quarter valued at approximately $89,000. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Down 4.1 %

Shares of IPGP opened at $82.71 on Wednesday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 21.32 and a beta of 1.08. IPG Photonics Co. has a 1-year low of $80.33 and a 1-year high of $141.85. The company’s fifty day simple moving average is $86.65 and its 200 day simple moving average is $92.72.

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

Insider Buying and Selling

In related news, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total transaction of $83,922.00. Following the transaction, the director now directly owns 4,319 shares in the company, valued at $367,978.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of IPG Photonics stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the transaction, the director now directly owns 4,319 shares of the company’s stock, valued at $367,978.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of IPG Photonics stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $85.86, for a total transaction of $772,740.00. Following the transaction, the insider now directly owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,773 shares of company stock worth $1,822,630. Insiders own 38.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Benchmark cut their price target on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Finally, Citigroup lowered their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.