IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors cut its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,992 shares of the semiconductor company’s stock after selling 687 shares during the quarter. Captrust Financial Advisors’ holdings in IPG Photonics were worth $520,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in IPGP. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in IPG Photonics by 1.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock valued at $77,375,000 after buying an additional 11,548 shares in the last quarter. Donald L. Hagan LLC lifted its stake in shares of IPG Photonics by 19.3% during the 2nd quarter. Donald L. Hagan LLC now owns 3,484 shares of the semiconductor company’s stock worth $294,000 after purchasing an additional 564 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of IPG Photonics by 26.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock worth $25,580,000 after purchasing an additional 63,369 shares during the period. Innealta Capital LLC acquired a new stake in shares of IPG Photonics during the second quarter worth $85,000. Finally, Commonwealth Equity Services LLC grew its position in shares of IPG Photonics by 4.2% in the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after purchasing an additional 278 shares during the period. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $77.73 on Thursday. The stock has a market cap of $3.36 billion, a PE ratio of -22.40 and a beta of 0.96. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.11. The business has a fifty day moving average of $77.38 and a two-hundred day moving average of $77.40.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data 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. The firm had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The company’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS. Analysts predict that IPG Photonics Co. will post 1.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on IPGP. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Northcoast Research lowered IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IPG Photonics has a consensus rating of “Hold” and a consensus 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.