AQR Capital Management LLC Buys 52,204 Shares of IPG Photonics Co. (NASDAQ:IPGP)

AQR Capital Management LLC boosted its position in IPG Photonics Co. (NASDAQ:IPGP) by 25.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 254,578 shares of the semiconductor company’s stock after purchasing an additional 52,204 shares during the quarter. AQR Capital Management LLC owned approximately 0.56% of IPG Photonics worth $21,484,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Caxton Associates LP boosted its position in shares of IPG Photonics by 64.8% in the 2nd quarter. Caxton Associates LP now owns 15,524 shares of the semiconductor company’s stock worth $1,310,000 after purchasing an additional 6,106 shares in the last quarter. Pacer Advisors Inc. increased its position in IPG Photonics by 58.7% during the 2nd quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock valued at $41,282,000 after buying an additional 180,951 shares in the last quarter. LHM Inc. raised its stake in IPG Photonics by 31.6% in the second quarter. LHM Inc. now owns 37,415 shares of the semiconductor company’s stock valued at $3,157,000 after buying an additional 8,994 shares during the last quarter. Inspire Investing LLC raised its stake in IPG Photonics by 19.8% in the second quarter. Inspire Investing LLC now owns 4,700 shares of the semiconductor company’s stock valued at $397,000 after buying an additional 778 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in IPG Photonics in the second quarter worth about $374,000. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Price Performance

NASDAQ IPGP opened at $74.32 on Tuesday. The company has a fifty day moving average of $70.88 and a 200 day moving average of $81.21. The company has a market capitalization of $3.39 billion, a PE ratio of 19.15 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 issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $257.60 million during the quarter, compared to analyst estimates of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The business’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. Research analysts expect that IPG Photonics Co. will post 1.38 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IPGP shares. Raymond James cut their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus decreased their price target on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Benchmark lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $93.40.

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.