Seven Eight Capital LP Makes New $443,000 Investment in IPG Photonics Co. (NASDAQ:IPGP)

Seven Eight Capital LP acquired a new position in IPG Photonics Co. (NASDAQ:IPGP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,880 shares of the semiconductor company’s stock, valued at approximately $443,000.

Several other institutional investors have also added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC lifted its stake in IPG Photonics by 1.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 10,302 shares of the semiconductor company’s stock worth $1,118,000 after purchasing an additional 123 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in IPG Photonics by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 13,300 shares of the semiconductor company’s stock worth $1,444,000 after purchasing an additional 130 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of IPG Photonics by 18.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 143 shares during the period. Janiczek Wealth Management LLC increased its position in shares of IPG Photonics by 23.8% during the fourth quarter. Janiczek Wealth Management LLC now owns 930 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 179 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of IPG Photonics by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 8,500 shares of the semiconductor company’s stock worth $771,000 after acquiring an additional 200 shares during the period. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Performance

NASDAQ IPGP traded down $1.15 on Wednesday, reaching $87.91. 204,175 shares of the company’s stock traded hands, compared to its average volume of 266,642. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 22.66 and a beta of 1.01. The stock has a 50 day moving average price of $86.03 and a 200-day moving average price of $89.36. IPG Photonics Co. has a fifty-two week low of $80.27 and a fifty-two week high of $132.99.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $252.00 million during 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 quarterly revenue was down 27.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. As a group, equities research analysts anticipate that IPG Photonics Co. will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Benchmark reduced their target price on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Citigroup cut 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.40.

Insider Transactions at IPG Photonics

In other news, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction dated 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 sale, the director now owns 4,319 shares of the company’s stock, valued at $367,978.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eric Meurice sold 788 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the sale, the director now owns 16,491 shares of the company’s stock, valued at approximately $1,472,646.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeanmarie F. Desmond sold 985 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $85.20, for a total transaction of $83,922.00. Following the sale, the director now directly owns 4,319 shares of the company’s stock, valued at approximately $367,978.80. The disclosure for this sale can be found here. Corporate insiders own 38.00% of the company’s stock.

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.