Federated Hermes Inc. Increases Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Federated Hermes Inc. lifted its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 28.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,437 shares of the semiconductor company’s stock after purchasing an additional 6,153 shares during the quarter. Federated Hermes Inc.’s holdings in IPG Photonics were worth $2,315,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina increased its position in shares of IPG Photonics by 1.0% during 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 during the period. Fiera Capital Corp increased its holdings in IPG Photonics by 0.9% during the 2nd quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock worth $1,902,000 after acquiring an additional 193 shares during the period. State of Michigan Retirement System boosted its holdings in IPG Photonics by 2.8% in the 1st quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock valued at $662,000 after purchasing an additional 200 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of IPG Photonics by 8.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,518 shares of the semiconductor company’s stock valued at $364,000 after purchasing an additional 269 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of IPG Photonics by 4.2% in the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock worth $585,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stifel Nicolaus dropped their price objective on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Raymond James cut their price objective 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. Finally, Benchmark downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IPG Photonics has an average rating of “Hold” and an average price target of $93.40.

IPG Photonics Trading Up 2.8 %

Shares of NASDAQ IPGP opened at $70.87 on Friday. The stock’s 50-day moving average is $73.31 and its 200 day moving average is $82.14. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 18.27 and a beta of 1.00. IPG Photonics Co. has a 1-year low of $61.86 and a 1-year high of $111.11.

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

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.