Algert Global LLC Decreases Stake in IPG Photonics Co. (NASDAQ:IPGP)

Algert Global LLC reduced its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 81.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,018 shares of the semiconductor company’s stock after selling 13,362 shares during the quarter. Algert Global LLC’s holdings in IPG Photonics were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of IPGP. D. E. Shaw & Co. Inc. lifted its stake in IPG Photonics by 10.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 479,301 shares of the semiconductor company’s stock valued at $40,448,000 after acquiring an additional 46,252 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of IPG Photonics during the second quarter valued at approximately $223,000. AQR Capital Management LLC lifted its position in IPG Photonics by 25.8% during the second quarter. AQR Capital Management LLC now owns 254,578 shares of the semiconductor company’s stock valued at $21,484,000 after purchasing an additional 52,204 shares during the period. Caxton Associates LP boosted its holdings in IPG Photonics by 64.8% in the second quarter. Caxton Associates LP now owns 15,524 shares of the semiconductor company’s stock worth $1,310,000 after purchasing an additional 6,106 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in IPG Photonics by 58.7% in the 2nd quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock worth $41,282,000 after purchasing an additional 180,951 shares during the period. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Stock Performance

NASDAQ IPGP opened at $74.80 on Thursday. The business’s fifty day moving average is $69.20 and its 200 day moving average is $80.52. The company has a market capitalization of $3.41 billion, a PE ratio of 19.28 and a beta of 1.00. IPG Photonics Co. has a fifty-two week low of $61.86 and a fifty-two week high of $111.11.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The firm’s quarterly revenue was down 24.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 earnings per share. On average, sell-side analysts forecast that IPG Photonics Co. will post 1.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IPGP shares. Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Raymond James dropped their target price 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. Finally, Stifel Nicolaus lowered their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, IPG Photonics presently has an average rating of “Hold” and a consensus target price of $93.40.

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.