Royce & Associates LP Has $12.19 Million Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Royce & Associates LP cut its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 14.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 164,028 shares of the semiconductor company's stock after selling 28,060 shares during the quarter. Royce & Associates LP owned 0.38% of IPG Photonics worth $12,191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. ING Groep NV acquired a new stake in IPG Photonics during the third quarter valued at $1,531,000. KBC Group NV lifted its holdings in shares of IPG Photonics by 50.6% during the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company's stock valued at $81,000 after buying an additional 365 shares during the last quarter. Victory Capital Management Inc. grew its stake 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 buying an additional 1,385 shares in the last quarter. Aigen Investment Management LP acquired a new position in IPG Photonics in the third quarter worth approximately $350,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in IPG Photonics by 5.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company's stock valued at $72,168,000 after acquiring an additional 54,166 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company's stock.

IPG Photonics Stock Down 2.1 %

IPGP stock traded down $1.61 during mid-day trading on Friday, reaching $73.45. 173,568 shares of the stock traded hands, compared to its average volume of 283,855. The firm has a market capitalization of $3.18 billion, a PE ratio of -21.17 and a beta of 0.98. The business has a 50-day moving average of $74.70 and a two-hundred day moving average of $78.77. 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 announced its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. During the same quarter in the prior year, the company earned $1.16 EPS. The firm's revenue for the quarter was down 22.6% compared to the same quarter last year. On average, equities research analysts anticipate that IPG Photonics Co. will post 1.53 EPS for the current fiscal year.

Analysts Set New Price Targets

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

IPG Photonics Company 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.