Fifth Third Bancorp raised its stake in IPG Photonics Co. (NASDAQ:IPGP) by 47.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 393 shares of the semiconductor company’s stock after buying an additional 126 shares during the quarter. Fifth Third Bancorp’s holdings in IPG Photonics were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Texas Permanent School Fund increased its stake in shares of IPG Photonics by 1.9% during the 1st quarter. Texas Permanent School Fund now owns 6,411 shares of the semiconductor company’s stock worth $707,000 after purchasing an additional 119 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of 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 worth $374,000 after purchasing an additional 128 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of IPG Photonics by 123.8% during the 1st quarter. Parallel Advisors LLC now owns 235 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC increased its stake in shares of IPG Photonics by 7.8% during the 1st quarter. Landsberg Bennett & Dubbaneh LLC now owns 1,957 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 141 shares during the last quarter. Finally, Hartford Investment Management Co. increased its stake in shares of IPG Photonics by 4.0% during the 1st quarter. Hartford Investment Management Co. now owns 3,740 shares of the semiconductor company’s stock worth $412,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Several research analysts have recently commented on the stock. Citigroup increased their price target on shares of IPG Photonics from $168.10 to $173.80 and gave the stock a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Monday, March 23rd. ValuEngine lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Northcoast Research reaffirmed a “neutral” rating on shares of IPG Photonics in a report on Tuesday, February 18th. Finally, Piper Sandler reaffirmed a “hold” rating and set a $150.00 price objective on shares of IPG Photonics in a report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $152.48.

In other news, SVP Trevor Ness sold 1,755 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were 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 directly owns 24,141 shares of the company’s stock, valued at approximately $3,504,307.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Angelo P. Lopresti sold 1,100 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $155.02, for a total transaction of $170,522.00. Following the transaction, the senior vice president now directly owns 42,975 shares of the company’s stock, valued at $6,661,984.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,055 shares of company stock valued at $7,826,126. Insiders own 33.90% of the company’s stock.

Shares of IPG Photonics stock opened at $157.39 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.59 and a quick ratio of 7.73. IPG Photonics Co. has a fifty-two week low of $98.04 and a fifty-two week high of $166.49. The firm has a fifty day moving average price of $127.60 and a two-hundred day moving average price of $133.67. The company has a market cap of $8.26 billion, a PE ratio of 40.91 and a beta of 1.69.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.52. IPG Photonics had a net margin of 12.93% and a return on equity of 8.57%. The firm had revenue of $249.20 million during the quarter, compared to the consensus estimate of $231.74 million. During the same period in the prior year, the firm earned $1.02 EPS. The business’s revenue was down 20.9% on a year-over-year basis. Analysts expect that IPG Photonics Co. will post 2.63 earnings per share 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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