SG Americas Securities LLC Purchases Shares of 10,801 IPG Photonics Co. (NASDAQ:IPGP)

SG Americas Securities LLC bought a new position in IPG Photonics Co. (NASDAQ:IPGP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,801 shares of the semiconductor company’s stock, valued at approximately $803,000.

A number of other hedge funds have also recently modified their holdings of IPGP. Crewe Advisors LLC purchased a new stake in shares of IPG Photonics in the first quarter worth about $52,000. Mather Group LLC. purchased a new stake in shares of IPG Photonics in the first quarter worth about $67,000. Innealta Capital LLC purchased a new stake in shares of IPG Photonics in the second quarter worth 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 worth $157,000 after purchasing 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 worth $178,000 after purchasing an additional 970 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Price Performance

Shares of IPG Photonics stock opened at $75.63 on Friday. The business has a 50 day simple moving average of $69.23 and a two-hundred day simple moving average of $80.32. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11. The stock has a market capitalization of $3.45 billion, a P/E ratio of 19.49 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The firm had revenue of $257.60 million for the quarter, compared to analyst estimates of $259.31 million. During the same period in the previous year, the company earned $1.31 EPS. IPG Photonics’s revenue was down 24.2% compared to the same quarter last year. As a group, research analysts anticipate that IPG Photonics Co. will post 1.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IPGP shares. Raymond James reduced their price target 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. Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $93.50.

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.