Stifel Financial Corp Sells 1,310 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Stifel Financial Corp reduced its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 7.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,398 shares of the semiconductor company’s stock after selling 1,310 shares during the quarter. Stifel Financial Corp’s holdings in IPG Photonics were worth $1,144,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of IPG Photonics by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock valued at $84,054,000 after purchasing an additional 125,958 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of IPG Photonics by 5.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock valued at $72,168,000 after purchasing an additional 54,166 shares during the period. Pacer Advisors Inc. boosted its stake in shares of IPG Photonics by 37.2% during the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock valued at $49,871,000 after purchasing an additional 181,844 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in shares of IPG Photonics by 2.2% during the second quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock valued at $41,432,000 after purchasing an additional 10,775 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of IPG Photonics by 10.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 479,301 shares of the semiconductor company’s stock valued at $40,448,000 after purchasing an additional 46,252 shares during the period. 93.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IPGP. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Finally, Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $93.50.

IPG Photonics Price Performance

NASDAQ:IPGP opened at $73.84 on Monday. IPG Photonics Co. has a 1-year low of $61.86 and a 1-year high of $111.11. The company has a 50-day moving average of $77.65 and a 200 day moving average of $76.88. The firm has a market cap of $3.19 billion, a PE ratio of -21.28 and a beta of 0.96.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. The business had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The company’s quarterly revenue was down 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 earnings per share. Sell-side analysts anticipate that IPG Photonics Co. will post 1.51 EPS for the current fiscal year.

IPG Photonics 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.