Nuveen Asset Management LLC Sells 1,435 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Nuveen Asset Management LLC lessened its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,537 shares of the semiconductor company’s stock after selling 1,435 shares during the quarter. Nuveen Asset Management LLC’s holdings in IPG Photonics were worth $4,766,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Millennium Management LLC grew its stake in shares of IPG Photonics by 98.1% during the fourth quarter. Millennium Management LLC now owns 41,669 shares of the semiconductor company’s stock worth $3,030,000 after buying an additional 20,639 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of IPG Photonics by 0.9% during the fourth quarter. Lazard Asset Management LLC now owns 1,069,193 shares of the semiconductor company’s stock worth $77,751,000 after buying an additional 9,852 shares during the last quarter. Invenomic Capital Management LP grew its stake in shares of IPG Photonics by 128.7% during the fourth quarter. Invenomic Capital Management LP now owns 49,805 shares of the semiconductor company’s stock worth $3,622,000 after buying an additional 28,029 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of IPG Photonics by 14.4% during the fourth quarter. Janus Henderson Group PLC now owns 12,710 shares of the semiconductor company’s stock worth $924,000 after buying an additional 1,600 shares during the last quarter. Finally, Gotham Asset Management LLC grew its stake in shares of IPG Photonics by 105.8% during the fourth quarter. Gotham Asset Management LLC now owns 36,425 shares of the semiconductor company’s stock worth $2,649,000 after buying an additional 18,730 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Down 2.1%

Shares of IPGP opened at $65.62 on Friday. The stock has a market capitalization of $2.79 billion, a P/E ratio of -15.70 and a beta of 0.92. The firm’s fifty day simple moving average is $59.90 and its two-hundred day simple moving average is $66.93. IPG Photonics Co. has a 12 month low of $48.59 and a 12 month high of $92.21.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. The business had revenue of $227.79 million for the quarter, compared to analysts’ expectations of $227.00 million. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. As a group, research analysts predict that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

IPG Photonics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.01%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a report on Monday, April 28th. Citigroup cut their price target on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, February 18th. CL King upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Tuesday, March 18th. Wall Street Zen upgraded shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $69.50.

IPG Photonics Company 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.