Edgestream Partners L.P. Increases Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Edgestream Partners L.P. increased its stake in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 463.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,453 shares of the semiconductor company's stock after purchasing an additional 18,470 shares during the quarter. Edgestream Partners L.P. owned approximately 0.05% of IPG Photonics worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of IPGP. Verition Fund Management LLC acquired a new stake in IPG Photonics in the 3rd quarter worth approximately $2,181,000. BNP Paribas Financial Markets lifted its stake in shares of IPG Photonics by 49.5% during the third quarter. BNP Paribas Financial Markets now owns 31,701 shares of the semiconductor company's stock valued at $2,356,000 after acquiring an additional 10,491 shares during the period. FMR LLC lifted its stake in IPG Photonics by 10.4% in the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company's stock valued at $120,000 after buying an additional 153 shares during the period. Quantbot Technologies LP increased its holdings in shares of IPG Photonics by 57.7% in the third quarter. Quantbot Technologies LP now owns 23,253 shares of the semiconductor company's stock worth $1,728,000 after acquiring an additional 8,507 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of IPG Photonics by 4.3% in the third quarter. Fisher Asset Management LLC now owns 192,050 shares of the semiconductor company's stock worth $14,273,000 after acquiring an additional 7,911 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Northcoast Research cut IPG Photonics from a "buy" rating to a "neutral" rating in a research report on Wednesday. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Benchmark reiterated a "hold" rating on shares of IPG Photonics in a research note on Wednesday, October 30th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $93.50.

IPG Photonics Price Performance

Shares of IPG Photonics stock traded down $2.45 during trading hours on Wednesday, reaching $75.36. The company had a trading volume of 179,274 shares, compared to its average volume of 263,487. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11. The business has a fifty day simple moving average of $76.87 and a 200 day simple moving average of $77.74. The firm has a market cap of $3.26 billion, a PE ratio of -22.42 and a beta of 0.96.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The company had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. During the same quarter last year, the company earned $1.16 earnings per share. The firm's quarterly revenue was down 22.6% on a year-over-year basis. On average, research analysts forecast that IPG Photonics Co. will post 1.51 EPS for the current year.

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.