Oppenheimer & Co. Inc. Decreases Position in IPG Photonics Co. (NASDAQ:IPGP)

Oppenheimer & Co. Inc. decreased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 4.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,350 shares of the semiconductor company’s stock after selling 313 shares during the period. Oppenheimer & Co. Inc.’s holdings in IPG Photonics were worth $472,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Crewe Advisors LLC purchased a new stake in IPG Photonics during the 1st quarter worth approximately $52,000. Innealta Capital LLC acquired a new stake in IPG Photonics in the 2nd quarter valued at approximately $85,000. Assetmark Inc. raised its position in shares of IPG Photonics by 28.3% during the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after buying an additional 295 shares in the last quarter. Covestor Ltd lifted its holdings in shares of IPG Photonics by 7.7% in the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 133 shares during the period. Finally, CWM LLC boosted its holdings in IPG Photonics by 226.4% during the third quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock worth $181,000 after buying an additional 1,689 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Benchmark restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Stifel Nicolaus dropped their target price 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. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Raymond James decreased their price target 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. One research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Stock Performance

NASDAQ:IPGP opened at $73.52 on Thursday. The company has a 50-day moving average of $75.33 and a 200-day moving average of $78.54. IPG Photonics Co. has a 52 week low of $61.86 and a 52 week high of $111.11. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -21.19 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The firm had revenue of $233.14 million for the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The business’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. Sell-side analysts forecast that IPG Photonics Co. will post 1.53 EPS for the current 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.