Exchange Traded Concepts LLC boosted its holdings in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 18.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 271,061 shares of the semiconductor company's stock after acquiring an additional 41,598 shares during the period. Exchange Traded Concepts LLC owned 0.59% of IPG Photonics worth $20,145,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in IPGP. Vanguard Group Inc. lifted its stake in shares of IPG Photonics by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company's stock valued at $277,207,000 after purchasing an additional 11,830 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in IPG Photonics by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company's stock valued at $84,054,000 after buying an additional 125,958 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in IPG Photonics by 1.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company's stock valued at $77,375,000 after buying an additional 11,548 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in IPG Photonics by 2.2% during the second quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company's stock worth $41,432,000 after buying an additional 10,775 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of IPG Photonics by 58.7% during the second quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company's stock valued at $41,282,000 after acquiring an additional 180,951 shares during the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.
IPG Photonics Stock Up 2.1 %
IPGP stock traded up $1.52 during midday trading on Friday, hitting $75.63. The company's stock had a trading volume of 182,945 shares, compared to its average volume of 264,260. The firm has a 50-day simple moving average of $69.23 and a 200-day simple moving average of $80.24. The firm has a market capitalization of $3.45 billion, a P/E ratio of 19.49 and a beta of 1.00. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.11.
IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its earnings results 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). IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The company had revenue of $257.60 million during the quarter, compared to analysts' expectations of $259.31 million. During the same quarter last year, the business posted $1.31 earnings per share. The company's revenue for the quarter was down 24.2% on a year-over-year basis. On average, sell-side analysts expect that IPG Photonics Co. will post 1.38 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on IPGP. Raymond James decreased their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a "strong-buy" rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus decreased their price target on IPG Photonics from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Finally, Benchmark cut IPG Photonics from a "buy" rating to a "hold" rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $93.50.
Check Out Our Latest Research Report on IPG Photonics
IPG Photonics Profile
(
Free Report)
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.
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