Mirae Asset Global Investments Co. Ltd. Boosts Stake in IPG Photonics Co. (NASDAQ:IPGP)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,216 shares of the semiconductor company’s stock after purchasing an additional 1,566 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.05% of IPG Photonics worth $2,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IPGP. VisionPoint Advisory Group LLC increased its position in IPG Photonics by 127.2% during the third quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. Point72 Middle East FZE acquired a new stake in IPG Photonics during the fourth quarter worth about $28,000. Assetmark Inc. increased its position in IPG Photonics by 39.4% during the third quarter. Assetmark Inc. now owns 612 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 173 shares during the last quarter. CWM LLC increased its position in shares of IPG Photonics by 123.8% during the third quarter. CWM LLC now owns 837 shares of the semiconductor company’s stock valued at $85,000 after acquiring an additional 463 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of IPG Photonics during the third quarter valued at about $89,000. 93.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on IPGP. Stifel Nicolaus dropped their price target on shares of IPG Photonics from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Citigroup cut shares of IPG Photonics from a “neutral” rating to a “sell” rating and dropped their price target for the company from $111.00 to $74.00 in a research report on Thursday, February 15th. StockNews.com cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Finally, Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.20.

IPG Photonics Stock Performance

Shares of IPGP stock opened at $84.59 on Friday. The stock has a market capitalization of $3.90 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 16.83 and a beta of 1.19. The company has a 50 day moving average price of $88.47 and a 200 day moving average price of $94.74. IPG Photonics Co. has a fifty-two week low of $83.00 and a fifty-two week high of $141.85.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). The business had revenue of $298.89 million during the quarter, compared to analyst estimates of $287.03 million. IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.91) EPS. On average, research analysts forecast that IPG Photonics Co. will post 3.23 EPS for the current fiscal year.

IPG Photonics announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Eric Meurice sold 629 shares of IPG Photonics stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total value of $62,900.00. Following the completion of the transaction, the director now owns 16,491 shares in the company, valued at $1,649,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Eric Meurice sold 629 shares of IPG Photonics stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total value of $62,900.00. Following the completion of the transaction, the director now owns 16,491 shares in the company, valued at $1,649,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.56, for a total transaction of $895,600.00. Following the completion of the transaction, the insider now owns 7,209,599 shares of the company’s stock, valued at approximately $645,691,686.44. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock worth $1,815,300 over the last 90 days. 37.10% of the stock is owned by insiders.

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.