Rhumbline Advisers Has $6.52 Million Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Rhumbline Advisers trimmed its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,298 shares of the semiconductor company’s stock after selling 4,747 shares during the period. Rhumbline Advisers’ holdings in IPG Photonics were worth $6,523,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of IPG Photonics in the 4th quarter valued at about $36,365,000. Evoke Wealth LLC acquired a new position in shares of IPG Photonics in the 4th quarter valued at approximately $1,640,000. Swedbank AB acquired a new position in IPG Photonics during the first quarter valued at approximately $2,687,000. Partnership Wealth Management LLC increased its stake in shares of IPG Photonics by 382.7% in the 1st quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock valued at $1,593,000 after purchasing an additional 13,923 shares during the last quarter. Finally, M&G Plc bought a new position in shares of IPG Photonics in the 1st quarter valued at $15,929,000. 93.79% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Stock Up 4.5 %

IPG Photonics stock opened at $67.67 on Friday. The company’s 50 day moving average price is $74.98 and its two-hundred day moving average price is $82.74. The stock has a market cap of $2.99 billion, a P/E ratio of 17.44 and a beta of 1.00. IPG Photonics Co. has a 52 week low of $61.86 and a 52 week high of $111.11.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their price objective on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Raymond James cut 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. Finally, Benchmark downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IPG Photonics presently has a consensus rating of “Hold” and a consensus price target of $93.40.

About IPG Photonics

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.