Invenomic Capital Management LP Increases Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Invenomic Capital Management LP grew its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 19.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,255 shares of the semiconductor company’s stock after acquiring an additional 41,277 shares during the period. IPG Photonics comprises about 1.2% of Invenomic Capital Management LP’s investment portfolio, making the stock its 27th biggest position. Invenomic Capital Management LP owned about 0.57% of IPG Photonics worth $23,421,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of IPG Photonics in the fourth quarter worth about $40,000. Disciplined Equity Management Inc. purchased a new stake in shares of IPG Photonics in the fourth quarter worth about $43,000. Crewe Advisors LLC purchased a new stake in shares of IPG Photonics in the first quarter worth about $52,000. AM Squared Ltd lifted its position in shares of IPG Photonics by 200.0% in the fourth quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock worth $65,000 after buying an additional 400 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of IPG Photonics in the first quarter worth about $67,000. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

IPG Photonics Trading Down 7.3 %

Shares of IPGP traded down $6.41 during midday trading on Tuesday, hitting $81.20. 444,021 shares of the company’s stock traded hands, compared to its average volume of 266,780. IPG Photonics Co. has a 1 year low of $79.80 and a 1 year high of $132.99. The firm’s fifty day moving average is $85.74 and its 200-day moving average is $88.81. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 20.93 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $252.00 million during the quarter, compared to analyst estimates of $255.53 million. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The business’s revenue for the quarter was down 27.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. On average, equities research analysts anticipate that IPG Photonics Co. will post 2.77 EPS for the current year.

Insider Buying and Selling

In other news, Director Jeanmarie F. Desmond sold 985 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was 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 in the company, valued at approximately $367,978.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 38.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IPGP has been the topic of several analyst reports. Benchmark reduced their price objective on 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 reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st. Finally, Citigroup reduced their price objective on IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.