2,557 Shares in IPG Photonics Co. (NASDAQ:IPGP) Bought by Quest Partners LLC

Quest Partners LLC bought a new position in IPG Photonics Co. (NASDAQ:IPGP) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 2,557 shares of the semiconductor company’s stock, valued at approximately $190,000.

Other institutional investors also recently bought and sold shares of the company. KBC Group NV raised its holdings in IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 365 shares during the period. Innealta Capital LLC bought a new position in IPG Photonics in the 2nd quarter worth $85,000. Assetmark Inc. raised its holdings in IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after purchasing an additional 295 shares during the period. Covestor Ltd raised its holdings in IPG Photonics by 7.7% in the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after purchasing an additional 133 shares during the period. Finally, CWM LLC raised its holdings in IPG Photonics by 226.4% in the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,689 shares during the period. 93.79% of the stock is owned by institutional investors.

IPG Photonics Stock Up 0.2 %

Shares of IPG Photonics stock opened at $77.30 on Thursday. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of -22.22 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 business has a 50-day moving average price of $76.10 and a 200-day moving average price of $78.13.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The company had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. During the same period in the previous year, the firm posted $1.16 earnings per share. The firm’s revenue for the quarter was down 22.6% on a year-over-year basis. On average, equities analysts expect that IPG Photonics Co. will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

IPGP has been the topic of a number of recent analyst reports. Benchmark reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Raymond James decreased their price target on IPG Photonics from $127.00 to $100.00 and set a “strong-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, Stifel Nicolaus cut their price objective on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, IPG Photonics presently has an average rating of “Hold” and an average target price of $93.50.

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.