Wedge Capital Management L L P NC Sells 12,565 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Wedge Capital Management L L P NC trimmed its holdings in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 19.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,862 shares of the semiconductor company's stock after selling 12,565 shares during the period. Wedge Capital Management L L P NC owned 0.12% of IPG Photonics worth $3,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in IPG Photonics during the 1st quarter valued at $52,000. Mather Group LLC. bought a new stake in shares of IPG Photonics during the 1st quarter worth about $67,000. Innealta Capital LLC acquired a new position in IPG Photonics in the 2nd quarter valued at about $85,000. Covestor Ltd raised its holdings in IPG Photonics by 94.2% in the 1st quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company's stock valued at $157,000 after acquiring an additional 838 shares during the period. Finally, EntryPoint Capital LLC raised its holdings in IPG Photonics by 97.6% in the 1st quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company's stock valued at $178,000 after acquiring an additional 970 shares during the period. 93.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on IPGP shares. Stifel Nicolaus decreased their target price on IPG Photonics from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Benchmark downgraded IPG Photonics from a "buy" rating to a "hold" rating in a research note on Wednesday, July 31st. Finally, Raymond James dropped their target price on IPG Photonics from $127.00 to $100.00 and set a "strong-buy" rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $93.50.

IPG Photonics Price Performance

IPG Photonics stock traded down $0.52 during mid-day trading on Wednesday, reaching $74.62. 439,902 shares of the company were exchanged, compared to its average volume of 264,402. The firm has a market cap of $3.40 billion, a PE ratio of 19.30 and a beta of 1.00. The company has a fifty day simple moving average of $69.55 and a 200-day simple moving average of $80.03. 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 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). The business had revenue of $257.60 million during 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 was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 EPS. Sell-side analysts anticipate that IPG Photonics Co. will post 1.38 earnings per share 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.