IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 36.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,904 shares of the semiconductor company's stock after selling 21,935 shares during the period. Raymond James & Associates owned 0.08% of IPG Photonics worth $2,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in IPG Photonics in the 1st quarter valued at about $52,000. Innealta Capital LLC purchased a new position in IPG Photonics in the 2nd quarter valued at about $85,000. Covestor Ltd boosted its position 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 buying an additional 838 shares during the last quarter. EntryPoint Capital LLC boosted its position 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 buying an additional 970 shares during the last quarter. Finally, CWM LLC boosted its position in IPG Photonics by 226.4% in the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company's stock valued at $181,000 after buying an additional 1,689 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Trading Up 1.3 %

NASDAQ IPGP traded up $1.06 during trading hours on Tuesday, reaching $81.63. The company's stock had a trading volume of 183,853 shares, compared to its average volume of 266,937. The business has a 50-day simple moving average of $72.34 and a 200 day simple moving average of $79.15. IPG Photonics Co. has a 52 week low of $61.86 and a 52 week high of $111.11. The stock has a market cap of $3.53 billion, a PE ratio of -23.40 and a beta of 0.98.

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

Wall Street Analyst Weigh In

IPGP has been the subject of a number of analyst reports. Benchmark reissued a "hold" rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Stifel Nicolaus reduced their price target on shares of IPG Photonics from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Raymond James reduced their price target on shares of 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. One equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, IPG Photonics presently has a consensus rating of "Hold" and an average 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.