Systematic Financial Management LP Sells 2,983 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Systematic Financial Management LP cut its stake in IPG Photonics Co. (NASDAQ:IPGP) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,497 shares of the semiconductor company’s stock after selling 2,983 shares during the period. Systematic Financial Management LP’s holdings in IPG Photonics were worth $9,662,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IPGP. Swedbank AB bought a new position in shares of IPG Photonics during the 1st quarter worth approximately $2,687,000. Partnership Wealth Management LLC boosted its holdings in shares of IPG Photonics by 382.7% during the 1st quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock worth $1,593,000 after buying an additional 13,923 shares in the last quarter. M&G Plc bought a new position in shares of IPG Photonics during the 1st quarter worth approximately $15,929,000. Quadrature Capital Ltd bought a new position in shares of IPG Photonics during the 1st quarter worth approximately $1,201,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of IPG Photonics by 125.5% in the 1st quarter. BNP Paribas Financial Markets now owns 40,751 shares of the semiconductor company’s stock worth $3,696,000 after purchasing an additional 22,680 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IPGP shares. Stifel Nicolaus cut their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Raymond James cut their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Finally, Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.40.

IPG Photonics Trading Up 0.5 %

NASDAQ IPGP opened at $74.89 on Monday. The firm has a market capitalization of $3.41 billion, a P/E ratio of 19.30 and a beta of 1.00. The business has a fifty day simple moving average of $71.20 and a 200 day simple moving average of $81.30. 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 analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $257.60 million during the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The company’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 earnings per share. As a group, sell-side analysts predict that IPG Photonics Co. will post 1.38 EPS for the current fiscal 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.