Squarepoint Ops LLC Has $2.76 Million Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Squarepoint Ops LLC lowered its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 41.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,654 shares of the semiconductor company's stock after selling 23,400 shares during the quarter. Squarepoint Ops LLC owned about 0.07% of IPG Photonics worth $2,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IPGP. Vanguard Group Inc. lifted its holdings in IPG Photonics by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company's stock worth $277,207,000 after purchasing an additional 11,830 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of IPG Photonics by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company's stock worth $84,054,000 after buying an additional 125,958 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of IPG Photonics by 1.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company's stock worth $77,375,000 after buying an additional 11,548 shares during the period. Pacer Advisors Inc. grew its stake in IPG Photonics by 58.7% in the 2nd quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company's stock valued at $41,282,000 after buying an additional 180,951 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in IPG Photonics by 26.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company's stock worth $25,580,000 after acquiring an additional 63,369 shares during the period. Institutional investors own 93.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IPGP shares. Raymond James lowered their price target on IPG Photonics from $127.00 to $100.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus lowered their target price on IPG Photonics from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Finally, Benchmark lowered IPG Photonics from a "buy" rating to a "hold" rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $93.40.

IPG Photonics Stock Up 1.8 %

Shares of IPGP opened at $73.16 on Thursday. The stock's 50-day moving average price is $70.54 and its 200 day moving average price is $81.11. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 18.86 and a beta of 1.00. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $111.11.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). The firm had revenue of $257.60 million for the quarter, compared to the consensus estimate of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The business's revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 earnings per share. Equities research analysts expect that IPG Photonics Co. will post 1.38 EPS for the current year.

IPG Photonics 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.