Pacer Advisors Inc. Raises Position in IPG Photonics Co. (NASDAQ:IPGP)

Pacer Advisors Inc. lifted its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 37.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 671,025 shares of the semiconductor company's stock after acquiring an additional 181,844 shares during the period. Pacer Advisors Inc. owned approximately 1.55% of IPG Photonics worth $49,871,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in IPG Photonics during the 3rd quarter worth approximately $190,000. ING Groep NV purchased a new stake in shares of IPG Photonics during the third quarter valued at $1,531,000. KBC Group NV increased its position in shares of IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company's stock valued at $81,000 after acquiring an additional 365 shares during the period. Victory Capital Management Inc. increased its position in shares of IPG Photonics by 23.8% in the 3rd quarter. Victory Capital Management Inc. now owns 7,205 shares of the semiconductor company's stock valued at $535,000 after acquiring an additional 1,385 shares during the period. Finally, Aigen Investment Management LP purchased a new position in IPG Photonics in the 3rd quarter worth $350,000. Institutional investors and hedge funds own 93.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IPGP shares. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Benchmark reissued a "hold" rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Raymond James cut 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IPG Photonics has an average rating of "Hold" and an average target price of $93.50.

IPG Photonics Stock Performance

NASDAQ IPGP traded up $2.98 during mid-day trading on Friday, reaching $77.79. 218,242 shares of the stock were exchanged, compared to its average volume of 263,979. The company has a market capitalization of $3.36 billion, a P/E ratio of -22.14 and a beta of 0.98. The business's 50 day moving average is $75.53 and its 200-day moving average is $78.51. 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, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The business had revenue of $233.14 million for the quarter, compared to analyst estimates of $227.89 million. During the same period in the prior year, the company posted $1.16 EPS. The company's revenue for the quarter was down 22.6% on a year-over-year basis. Equities analysts predict that IPG Photonics Co. will post 1.53 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.