Squarepoint Ops LLC Has $2.76 Million Position in IPG Photonics Co. (NASDAQ:IPGP)

Squarepoint Ops LLC lowered its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 41.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,654 shares of the semiconductor company’s stock after selling 23,400 shares during the quarter. Squarepoint Ops LLC owned 0.07% of IPG Photonics worth $2,756,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IPGP. Crewe Advisors LLC acquired a new position in shares of IPG Photonics in the 1st quarter worth approximately $52,000. Mather Group LLC. bought a new position in shares of IPG Photonics during the first quarter valued at $67,000. Innealta Capital LLC acquired a new stake in shares of IPG Photonics in the 2nd quarter valued at $85,000. TFO Wealth Partners LLC grew its holdings in shares of IPG Photonics by 38,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock worth $124,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of IPG Photonics by 94.2% during the 1st quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 838 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analyst Upgrades and Downgrades

IPGP has been the topic of several research analyst reports. Benchmark cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, 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 research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $93.40.

IPG Photonics Price Performance

IPGP opened at $73.16 on Thursday. The company’s 50 day simple moving average is $70.54 and its 200-day simple moving average is $81.11. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11. The stock has a market capitalization of $3.33 billion, a P/E ratio of 18.86 and a beta of 1.00.

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