Greatmark Investment Partners Inc. Has $2.76 Million Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Greatmark Investment Partners Inc. grew its position in IPG Photonics Co. (NASDAQ:IPGP) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,403 shares of the semiconductor company’s stock after buying an additional 2,427 shares during the quarter. Greatmark Investment Partners Inc. owned approximately 0.05% of IPG Photonics worth $2,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IPGP. Vanguard Group Inc. lifted its position in shares of IPG Photonics by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company’s stock worth $308,587,000 after purchasing an additional 85,984 shares in the last quarter. Invesco Ltd. lifted its position in shares of IPG Photonics by 9.6% in the third quarter. Invesco Ltd. now owns 836,794 shares of the semiconductor company’s stock worth $84,968,000 after purchasing an additional 73,182 shares in the last quarter. Trillium Asset Management LLC lifted its position in shares of IPG Photonics by 3.4% in the third quarter. Trillium Asset Management LLC now owns 248,273 shares of the semiconductor company’s stock worth $25,210,000 after purchasing an additional 8,098 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of IPG Photonics by 2.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 214,778 shares of the semiconductor company’s stock worth $23,312,000 after purchasing an additional 4,775 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of IPG Photonics by 636.6% in the fourth quarter. New York State Common Retirement Fund now owns 204,502 shares of the semiconductor company’s stock worth $22,197,000 after purchasing an additional 176,739 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of IPG Photonics stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total value of $772,740.00. Following the transaction, the insider now owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Eric Meurice sold 629 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total value of $62,900.00. Following the sale, the director now owns 16,491 shares in the company, valued at $1,649,100. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $85.86, for a total transaction of $772,740.00. Following the completion of the sale, the insider now owns 7,200,599 shares in the company, valued at approximately $618,243,430.14. The disclosure for this sale can be found here. Insiders have sold a total of 29,629 shares of company stock valued at $2,588,040 over the last 90 days. 33.50% of the stock is currently owned by company insiders.

IPG Photonics Price Performance

IPGP traded up $0.49 during midday trading on Monday, hitting $88.89. 116,644 shares of the company’s stock traded hands, compared to its average volume of 288,970. IPG Photonics Co. has a one year low of $83.00 and a one year high of $141.85. The company has a market cap of $4.10 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 17.53 and a beta of 1.19. The stock’s fifty day simple moving average is $87.73 and its 200-day simple moving average is $94.24.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. The firm had revenue of $298.89 million during the quarter, compared to the consensus estimate of $287.03 million. During the same period in the prior year, the business earned ($1.91) EPS. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, research analysts expect that IPG Photonics Co. will post 3.23 EPS for the current year.

IPG Photonics announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 13th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

IPGP has been the subject of a number of research analyst reports. StockNews.com lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Stifel Nicolaus cut their price objective on shares of IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Citigroup lowered shares of IPG Photonics from a “neutral” rating to a “sell” rating and cut their price objective for the company from $111.00 to $74.00 in a research report on Thursday, February 15th. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of IPG Photonics in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IPG Photonics presently has an average rating of “Moderate Buy” and a consensus target price of $117.20.

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.