Ashton Thomas Private Wealth LLC Sells 250 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Ashton Thomas Private Wealth LLC cut its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,905 shares of the semiconductor company’s stock after selling 250 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in IPG Photonics were worth $498,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new position in shares of IPG Photonics in the 1st quarter valued at approximately $52,000. Mather Group LLC. purchased a new position in IPG Photonics during the first quarter valued at $67,000. Innealta Capital LLC bought a new stake in shares of IPG Photonics during the 2nd quarter valued at $85,000. TFO Wealth Partners LLC grew its position in shares of IPG Photonics by 38,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock worth $124,000 after buying an additional 1,140 shares during the period. Finally, Covestor Ltd increased its stake in shares of 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 acquiring an additional 838 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $63.15 on Thursday. The company has a market cap of $2.88 billion, a PE ratio of 16.28 and a beta of 1.00. The firm’s 50 day moving average price is $75.80 and its 200-day moving average price is $83.00. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.11.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). The business had revenue of $257.60 million during the quarter, compared to the consensus estimate of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The business’s revenue was down 24.2% compared to the same quarter last year. During the same period last year, the company posted $1.31 earnings per share. On average, analysts forecast that IPG Photonics Co. will post 1.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on IPGP. Stifel Nicolaus dropped their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Raymond James reduced their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.40.

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.