651,546 Shares in IPG Photonics Co. (NASDAQ:IPGP) Bought by Channing Capital Management LLC

Channing Capital Management LLC acquired a new position in shares of IPG Photonics Co. (NASDAQ:IPGP) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 651,546 shares of the semiconductor company’s stock, valued at approximately $70,719,000. IPG Photonics comprises 2.1% of Channing Capital Management LLC’s holdings, making the stock its 19th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in IPGP. Arizona State Retirement System lifted its position in shares of IPG Photonics by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 8,755 shares of the semiconductor company’s stock valued at $889,000 after acquiring an additional 118 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of 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 valued at $1,118,000 after purchasing an additional 123 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of IPG Photonics by 18.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 143 shares in the last quarter. VisionPoint Advisory Group LLC boosted its position in shares of IPG Photonics by 127.2% in the third quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock worth $26,000 after buying an additional 145 shares during the period. Finally, Verdence Capital Advisors LLC grew its holdings in shares of IPG Photonics by 4.8% during the third quarter. Verdence Capital Advisors LLC now owns 3,264 shares of the semiconductor company’s stock valued at $331,000 after buying an additional 150 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors.

IPG Photonics Trading Up 0.1 %

NASDAQ IPGP traded up $0.06 on Friday, reaching $86.76. The stock had a trading volume of 253,550 shares, compared to its average volume of 230,527. The business has a 50 day moving average price of $87.69 and a 200 day moving average price of $93.96. IPG Photonics Co. has a 1 year low of $80.33 and a 1 year high of $141.85. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 19.82 and a beta of 1.17.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The firm had revenue of $252.00 million for the quarter, compared to the consensus estimate of $255.53 million. During the same quarter in the previous year, the company posted $1.26 earnings per share. The business’s quarterly revenue was down 27.4% compared to the same quarter last year. On average, analysts anticipate that IPG Photonics Co. will post 2.81 earnings per share for the current fiscal year.

IPG Photonics declared that its Board of Directors has approved a share buyback plan on Tuesday, February 13th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 7.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price target on IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Benchmark lowered their price target on IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday. StockNews.com downgraded IPG Photonics from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Finally, Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.40.

Insider Buying and Selling at IPG Photonics

In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $85.68, for a total transaction of $856,800.00. Following the completion of the sale, the insider now owns 7,219,599 shares in the company, valued at approximately $618,575,242.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Eric Meurice sold 788 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $89.30, for a total transaction of $70,368.40. Following the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $85.68, for a total value of $856,800.00. Following the transaction, the insider now directly owns 7,219,599 shares in the company, valued at approximately $618,575,242.32. The disclosure for this sale can be found here. Insiders have sold 29,788 shares of company stock worth $2,595,508 over the last 90 days. 37.10% of the stock is currently owned by corporate insiders.

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.