First Eagle Investment Management LLC Reduces Holdings in IPG Photonics Co. (NASDAQ:IPGP)

First Eagle Investment Management LLC lowered its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,255,138 shares of the semiconductor company’s stock after selling 8,778 shares during the quarter. First Eagle Investment Management LLC owned about 9.34% of IPG Photonics worth $359,091,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Crewe Advisors LLC acquired a new position in IPG Photonics during the 1st quarter valued at approximately $52,000. Mather Group LLC. purchased a new position in IPG Photonics in the 1st quarter worth $67,000. Innealta Capital LLC acquired a new stake in IPG Photonics during the 2nd quarter worth about $85,000. TFO Wealth Partners LLC grew its stake in IPG Photonics by 38,000.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock valued at $124,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Covestor Ltd grew its stake in IPG Photonics by 94.2% during the 1st quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 838 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Trading Up 0.2 %

IPG Photonics stock opened at $68.92 on Thursday. The firm has a market cap of $3.14 billion, a PE ratio of 17.76 and a beta of 1.00. The stock’s 50 day simple moving average is $73.65 and its two-hundred day simple moving average is $82.22. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The firm’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 EPS. On average, equities research analysts forecast that IPG Photonics Co. will post 1.38 EPS for the current year.

Wall Street Analysts Forecast Growth

IPGP has been the subject of a number of research reports. Raymond James decreased their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Benchmark downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus cut 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.