Jane Street Group LLC Grows Position in IPG Photonics Co. (NASDAQ:IPGP)

Jane Street Group LLC boosted its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 100.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,771 shares of the semiconductor company’s stock after purchasing an additional 10,906 shares during the period. Jane Street Group LLC’s holdings in IPG Photonics were worth $1,618,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IPGP. KBC Group NV raised its position in shares of IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after buying an additional 365 shares during the period. Assetmark Inc. increased its stake in IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after acquiring an additional 295 shares during the last quarter. FMR LLC raised its holdings in shares of IPG Photonics by 10.4% in the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 153 shares during the period. Covestor Ltd raised its holdings in shares of IPG Photonics by 7.7% in the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after purchasing an additional 133 shares during the period. Finally, CWM LLC lifted its stake in shares of IPG Photonics by 226.4% in the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 1,689 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

IPG Photonics Stock Up 0.1 %

Shares of NASDAQ:IPGP opened at $76.41 on Friday. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -22.02 and a beta of 0.96. The company has a 50 day moving average of $77.68 and a two-hundred day moving average of $76.73. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.09.

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

Analyst Upgrades and Downgrades

IPGP has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Finally, Benchmark restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IPG Photonics presently has an average rating of “Hold” and an average price target of $93.50.

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.