IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Algert Global LLC

Algert Global LLC trimmed its stake in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 81.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,018 shares of the semiconductor company's stock after selling 13,362 shares during the period. Algert Global LLC's holdings in IPG Photonics were worth $255,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in IPG Photonics in the 1st quarter worth approximately $52,000. Mather Group LLC. acquired a new stake in IPG Photonics in the 1st quarter worth approximately $67,000. Innealta Capital LLC acquired a new stake in IPG Photonics in the 2nd quarter worth approximately $85,000. Covestor Ltd boosted its stake in IPG Photonics by 94.2% in the 1st quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company's stock worth $157,000 after purchasing an additional 838 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its stake in IPG Photonics by 97.6% in the 1st quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company's stock worth $178,000 after purchasing an additional 970 shares in the last quarter. 93.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on IPGP. Stifel Nicolaus lowered their target price on shares of IPG Photonics from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Benchmark cut shares of IPG Photonics from a "buy" rating to a "hold" rating in a research note on Wednesday, July 31st. Finally, Raymond James decreased their price objective 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $93.40.

IPG Photonics Trading Down 0.9 %

NASDAQ IPGP traded down $0.69 on Thursday, hitting $74.11. 190,985 shares of the company's stock traded hands, compared to its average volume of 264,675. The firm has a market capitalization of $3.38 billion, a PE ratio of 19.28 and a beta of 1.00. The firm's 50-day moving average price is $69.20 and its two-hundred day moving average price is $80.52. IPG Photonics Co. has a 1-year low of $61.86 and a 1-year high of $111.11.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). The firm had revenue of $257.60 million for the quarter, compared to analysts' expectations of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. IPG Photonics's revenue for the quarter was down 24.2% compared to the same quarter last year. During the same period last year, the firm earned $1.31 earnings per share. On average, research analysts anticipate that IPG Photonics Co. will post 1.38 earnings per share for the current fiscal 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.