Voloridge Investment Management LLC Sells 55,929 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Voloridge Investment Management LLC trimmed its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 47.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,726 shares of the semiconductor company’s stock after selling 55,929 shares during the quarter. Voloridge Investment Management LLC owned about 0.14% of IPG Photonics worth $4,416,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Barclays PLC lifted its stake in shares of IPG Photonics by 42.5% during the third quarter. Barclays PLC now owns 38,787 shares of the semiconductor company’s stock valued at $2,883,000 after acquiring an additional 11,562 shares during the period. KBC Group NV increased its position in IPG Photonics by 48.5% in the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 527 shares during the period. Calamos Wealth Management LLC increased its position in IPG Photonics by 4.0% in the fourth quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company’s stock worth $454,000 after purchasing an additional 237 shares during the period. Retirement Systems of Alabama increased its position in IPG Photonics by 437.2% in the fourth quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company’s stock worth $13,011,000 after purchasing an additional 145,616 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in IPG Photonics by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock worth $72,694,000 after purchasing an additional 28,606 shares during the period. 93.79% of the stock is owned by institutional investors.

IPG Photonics Price Performance

Shares of IPGP stock opened at $64.60 on Tuesday. The stock has a market cap of $2.75 billion, a PE ratio of -15.45 and a beta of 0.92. The stock has a 50-day moving average of $59.84 and a 200-day moving average of $67.19. IPG Photonics Co. has a one year low of $48.59 and a one year high of $92.21.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. The company had revenue of $227.79 million during the quarter, compared to analysts’ expectations of $227.00 million. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. IPG Photonics’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 EPS. As a group, research analysts anticipate that IPG Photonics Co. will post 1.54 earnings per share for the current year.

IPG Photonics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.04%.

Wall Street Analysts Forecast Growth

IPGP has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Wall Street Zen upgraded IPG Photonics from a “sell” rating to a “hold” rating in a research report on Thursday, May 15th. Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research report on Monday, April 28th. Raymond James lowered their price objective on IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, May 7th. Finally, Citigroup lowered their price objective on IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $69.50.

About IPG Photonics

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.