Handelsbanken Fonder AB Increases Position in IPG Photonics Co. (NASDAQ:IPGP)

Handelsbanken Fonder AB lifted its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 45.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,600 shares of the semiconductor company’s stock after buying an additional 2,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in IPG Photonics were worth $639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IPGP. Swedbank AB bought a new stake in shares of IPG Photonics during the first quarter worth $2,687,000. Partnership Wealth Management LLC lifted its holdings in IPG Photonics by 382.7% during the 1st quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock valued at $1,593,000 after buying an additional 13,923 shares in the last quarter. M&G Plc purchased a new stake in IPG Photonics in the 1st quarter valued at about $15,929,000. Quadrature Capital Ltd bought a new position in IPG Photonics in the 1st quarter worth about $1,201,000. Finally, BNP Paribas Financial Markets increased its position in shares of IPG Photonics by 125.5% during the first quarter. BNP Paribas Financial Markets now owns 40,751 shares of the semiconductor company’s stock worth $3,696,000 after acquiring an additional 22,680 shares during the period. 93.79% of the stock is owned by institutional investors.

IPG Photonics Stock Performance

Shares of IPG Photonics stock opened at $75.63 on Monday. The company has a market capitalization of $3.45 billion, a PE ratio of 19.49 and a beta of 1.00. The company has a 50-day simple moving average of $69.23 and a two-hundred day simple moving average of $80.24. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus decreased their price objective 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 target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, IPG Photonics currently has an average rating of “Hold” and a consensus target price of $93.50.

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.