State Street Corp Lowers Holdings in IPG Photonics Co. (NASDAQ:IPGP)

State Street Corp reduced its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 912,691 shares of the semiconductor company’s stock after selling 5,648 shares during the quarter. State Street Corp owned 2.11% of IPG Photonics worth $67,831,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of IPG Photonics by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock worth $84,054,000 after acquiring an additional 125,958 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of IPG Photonics by 5.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after acquiring an additional 54,166 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of IPG Photonics by 37.2% during the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after acquiring an additional 181,844 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of IPG Photonics by 2.2% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock worth $41,432,000 after acquiring an additional 10,775 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of IPG Photonics by 10.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 479,301 shares of the semiconductor company’s stock worth $40,448,000 after acquiring an additional 46,252 shares in the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $93.50.

IPG Photonics Trading Down 2.4 %

IPGP stock opened at $76.34 on Wednesday. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -22.00 and a beta of 0.96. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11. The firm has a 50-day moving average of $77.66 and a two-hundred day moving average of $77.21.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The company had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. IPG Photonics’s quarterly revenue was down 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, equities analysts forecast that IPG Photonics Co. will post 1.51 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.