IPG Photonics Co. (NASDAQ:IPGP) Holdings Lowered by Raymond James & Associates

Raymond James & Associates reduced its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 36.7% during the third quarter, Holdings Channel reports. The firm owned 37,904 shares of the semiconductor company’s stock after selling 21,935 shares during the period. Raymond James & Associates’ holdings in IPG Photonics were worth $2,817,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Crewe Advisors LLC acquired a new stake in IPG Photonics in the first quarter valued at approximately $52,000. Innealta Capital LLC acquired a new position in IPG Photonics during the 2nd quarter valued at $85,000. Covestor Ltd raised its stake in IPG Photonics by 94.2% during the 1st quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 838 shares during the last quarter. EntryPoint Capital LLC raised its stake in IPG Photonics by 97.6% during the 1st quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company’s stock valued at $178,000 after purchasing an additional 970 shares during the last quarter. Finally, CWM LLC raised its stake in IPG Photonics by 226.4% during the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 1,689 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IPGP has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Raymond James cut their target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lowered their price target 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. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Down 2.1 %

Shares of IPGP opened at $80.57 on Tuesday. The stock has a market capitalization of $3.48 billion, a P/E ratio of -23.70 and a beta of 0.98. IPG Photonics Co. has a twelve month low of $61.86 and a twelve month high of $111.11. The company has a 50 day moving average of $72.13 and a 200-day moving average of $79.18.

IPG Photonics (NASDAQ:IPGP) last released 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 negative net margin of 14.20% and a positive return on equity of 4.32%. The business had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. During the same period last year, the business earned $1.16 earnings per share. The firm’s revenue was down 22.6% on a year-over-year basis. On average, sell-side analysts anticipate 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.