Metropolitan Life Insurance Co NY Sells 214 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Metropolitan Life Insurance Co NY cut its position in IPG Photonics Co. (NASDAQ:IPGP) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,879 shares of the semiconductor company’s stock after selling 214 shares during the period. Metropolitan Life Insurance Co NY’s holdings in IPG Photonics were worth $1,044,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. CSat Investment Advisory L.P. increased its holdings in shares of IPG Photonics by 133.0% in the fourth quarter. CSat Investment Advisory L.P. now owns 508 shares of the semiconductor company’s stock valued at $58,000 after purchasing an additional 290 shares during the last quarter. Manchester Capital Management LLC acquired a new stake in shares of IPG Photonics in the first quarter valued at approximately $59,000. Stephens Inc. AR increased its holdings in shares of IPG Photonics by 89.4% in the first quarter. Stephens Inc. AR now owns 498 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 235 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of IPG Photonics by 68.3% in the first quarter. First Hawaiian Bank now owns 673 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 273 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of IPG Photonics in the first quarter valued at approximately $106,000. 64.79% of the stock is currently owned by institutional investors and hedge funds.

IPGP stock traded down $0.28 during trading on Thursday, hitting $130.69. The company had a trading volume of 536,021 shares, compared to its average volume of 486,661. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 3.01 and a beta of 2.14. IPG Photonics Co. has a 1-year low of $104.64 and a 1-year high of $241.52. The company has a 50-day simple moving average of $139.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.55 and a current ratio of 8.54.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). The company had revenue of $315.00 million during the quarter, compared to analysts’ expectations of $308.75 million. IPG Photonics had a net margin of 24.94% and a return on equity of 16.09%. IPG Photonics’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.93 EPS. As a group, research analysts forecast that IPG Photonics Co. will post 5.6 EPS for the current year.

IPGP has been the subject of several recent analyst reports. Benchmark raised from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. DA Davidson initiated coverage on Uber Technologies in a research note on Wednesday, May 1st. They issued a “neutral” rating and a $53.00 price objective for the company. Needham & Company LLC lifted their price objective on Okta to $154.00 and gave the company a “buy” rating in a research note on Wednesday. Cascend Securities reaffirmed a “buy” rating and issued a $200.00 price objective (up from $180.00) on shares of IPG Photonics in a research note on Wednesday, May 1st. Finally, Canaccord Genuity lifted their target price on TELUS from C$51.00 to C$52.00 in a report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. IPG Photonics presently has a consensus rating of “Hold” and a consensus price target of $182.40.

In other news, SVP Trevor Ness sold 166 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $165.00, for a total transaction of $27,390.00. Following the transaction, the senior vice president now owns 20,753 shares of the company’s stock, valued at $3,424,245. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Igor Samartsev sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $172.10, for a total transaction of $137,680.00. The disclosure for this sale can be found here. Insiders have sold 28,074 shares of company stock valued at $4,472,833 over the last 90 days. Insiders own 33.90% of the company’s stock.

IPG Photonics Company Profile

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.

Read More: Debt-To-Equity Ratio

Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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