20,600 Shares in IPG Photonics Co. (NASDAQ:IPGP) Purchased by ING Groep NV

ING Groep NV purchased a new stake in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 20,600 shares of the semiconductor company's stock, valued at approximately $1,531,000.

A number of other hedge funds have also added to or reduced their stakes in IPGP. US Bancorp DE raised its holdings in shares of IPG Photonics by 87.8% in the 1st quarter. US Bancorp DE now owns 3,676 shares of the semiconductor company's stock worth $333,000 after purchasing an additional 1,719 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in IPG Photonics by 12.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,385 shares of the semiconductor company's stock worth $3,390,000 after buying an additional 4,178 shares during the period. Vanguard Group Inc. lifted its holdings in IPG Photonics by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company's stock worth $277,207,000 after buying an additional 11,830 shares during the period. Covestor Ltd lifted its holdings in IPG Photonics by 94.2% in the first quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company's stock worth $157,000 after buying an additional 838 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in IPG Photonics in the first quarter worth about $443,000. Institutional investors and hedge funds own 93.79% of the company's stock.

IPG Photonics Stock Performance

IPG Photonics stock traded down $0.46 during trading hours on Monday, hitting $72.99. The company had a trading volume of 159,777 shares, compared to its average volume of 265,040. The company has a 50-day moving average price of $74.70 and a two-hundred day moving average price of $78.77. IPG Photonics Co. has a 1 year low of $61.86 and a 1 year high of $111.11. The firm has a market cap of $3.16 billion, a P/E ratio of -21.22 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. The company had revenue of $233.14 million for the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The firm's revenue was down 22.6% on a year-over-year basis. During the same quarter last year, the business earned $1.16 earnings per share. As a group, equities research analysts anticipate that IPG Photonics Co. will post 1.53 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Raymond James decreased their target price on shares of IPG Photonics from $127.00 to $100.00 and set a "strong-buy" rating for the company in a research note on Wednesday, July 31st. Benchmark restated a "hold" rating on shares of IPG Photonics in a report on Wednesday, October 30th. Stifel Nicolaus reduced their target price on shares of IPG Photonics from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IPG Photonics currently has a consensus rating of "Hold" and a consensus price target of $93.50.

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.