Amalgamated Bank Has $1.51 Million Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Amalgamated Bank increased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 10.9% during the second quarter, Holdings Channel reports. The institutional investor owned 17,946 shares of the semiconductor company’s stock after purchasing an additional 1,759 shares during the period. Amalgamated Bank’s holdings in IPG Photonics were worth $1,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of IPG Photonics during the fourth quarter worth approximately $36,365,000. Artisan Partners Limited Partnership acquired a new position in IPG Photonics during the fourth quarter worth $16,035,000. Allianz Asset Management GmbH lifted its stake in shares of IPG Photonics by 60.9% in the fourth quarter. Allianz Asset Management GmbH now owns 50,117 shares of the semiconductor company’s stock valued at $5,440,000 after buying an additional 18,970 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of IPG Photonics by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 13,300 shares of the semiconductor company’s stock valued at $1,444,000 after buying an additional 130 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its position in shares of IPG Photonics by 38,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock worth $124,000 after acquiring an additional 1,140 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

Analyst Ratings Changes

IPGP has been the topic of several recent research reports. Raymond James dropped 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. Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $93.40.

IPG Photonics Stock Down 1.0 %

IPG Photonics stock opened at $70.41 on Thursday. IPG Photonics Co. has a 52 week low of $61.86 and a 52 week high of $111.11. The company’s 50 day moving average price is $71.75 and its two-hundred day moving average price is $81.58. The stock has a market cap of $3.21 billion, a P/E ratio of 18.15 and a beta of 1.00.

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

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.