IPG Photonics Co. (NASDAQ:IPGP) Shares Purchased by Assetmark Inc.

Assetmark Inc. increased its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 28.3% during the third quarter, HoldingsChannel reports. The fund owned 1,336 shares of the semiconductor company’s stock after buying an additional 295 shares during the period. Assetmark Inc.’s holdings in IPG Photonics were worth $99,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IPGP. M&G PLC boosted its position in IPG Photonics by 1.3% during the third quarter. M&G PLC now owns 167,485 shares of the semiconductor company’s stock worth $12,394,000 after purchasing an additional 2,113 shares in the last quarter. Cambiar Investors LLC boosted its position in IPG Photonics by 5.7% during the third quarter. Cambiar Investors LLC now owns 108,154 shares of the semiconductor company’s stock worth $8,038,000 after purchasing an additional 5,813 shares in the last quarter. US Bancorp DE boosted its position in IPG Photonics by 101.2% during the third quarter. US Bancorp DE now owns 7,202 shares of the semiconductor company’s stock worth $535,000 after purchasing an additional 3,623 shares in the last quarter. Roubaix Capital LLC purchased a new stake in IPG Photonics during the third quarter worth $2,620,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in IPG Photonics during the third quarter worth $303,000. Institutional investors and hedge funds own 93.79% of the company’s stock.

Wall Street Analysts Forecast Growth

IPGP has been the topic of a number of research analyst reports. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Raymond James decreased their target price on 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. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus reduced their price objective on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Down 2.1 %

Shares of NASDAQ:IPGP opened at $73.45 on Monday. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.11. The stock’s fifty day simple moving average is $74.70 and its 200-day simple moving average is $78.77. The company has a market capitalization of $3.18 billion, a P/E ratio of -21.17 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The business had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. During the same period in the prior year, the business earned $1.16 earnings per share. The business’s revenue was down 22.6% on a year-over-year basis. On average, sell-side analysts anticipate that IPG Photonics Co. will post 1.53 earnings per share for the current 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.