Commonwealth Equity Services LLC Boosts Stake in IPG Photonics Co. (NASDAQ:IPGP)

Commonwealth Equity Services LLC lifted its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,937 shares of the semiconductor company’s stock after purchasing an additional 278 shares during the quarter. Commonwealth Equity Services LLC’s holdings in IPG Photonics were worth $585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of IPGP. Crewe Advisors LLC purchased a new position in shares of IPG Photonics in the first quarter worth $52,000. Mather Group LLC. purchased a new stake in IPG Photonics during the first quarter valued at $67,000. Innealta Capital LLC purchased a new stake in IPG Photonics during the second quarter valued at $85,000. TFO Wealth Partners LLC increased its position in IPG Photonics by 38,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock valued at $124,000 after acquiring an additional 1,140 shares during the last quarter. Finally, Covestor Ltd increased its position in IPG Photonics by 94.2% during the first quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 838 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on IPGP. Raymond James decreased their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their target price 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, Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a research note 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, IPG Photonics has an average rating of “Hold” and a consensus price target of $93.40.

IPG Photonics Stock Down 0.9 %

Shares of NASDAQ IPGP opened at $70.25 on Friday. The business has a fifty day simple moving average of $72.92 and a two-hundred day simple moving average of $82.02. The firm has a market cap of $3.20 billion, a PE ratio of 18.11 and a beta of 1.00. IPG Photonics Co. has a twelve month low of $61.86 and a twelve month high of $111.11.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 12.67% and a return on equity of 5.99%. The company’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. On average, research analysts expect that IPG Photonics Co. will post 1.38 earnings per share 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.