Creative Planning Boosts Position in IPG Photonics Co. (NASDAQ:IPGP)

Creative Planning boosted its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 93.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,071 shares of the semiconductor company’s stock after acquiring an additional 2,931 shares during the quarter. Creative Planning’s holdings in IPG Photonics were worth $451,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in IPG Photonics by 58.7% in the second quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock worth $41,282,000 after buying an additional 180,951 shares in the last quarter. M&G Plc purchased a new stake in IPG Photonics in the first quarter worth about $15,929,000. Dimensional Fund Advisors LP increased its position in IPG Photonics by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock worth $84,054,000 after buying an additional 125,958 shares in the last quarter. Motley Fool Asset Management LLC increased its position in IPG Photonics by 602.2% in the first quarter. Motley Fool Asset Management LLC now owns 87,928 shares of the semiconductor company’s stock worth $7,974,000 after buying an additional 75,407 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of IPG Photonics by 26.4% during the second quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock worth $25,580,000 after purchasing an additional 63,369 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Wall Street Analyst Weigh In

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

IPG Photonics Trading Up 4.9 %

Shares of IPG Photonics stock opened at $85.60 on Thursday. The stock has a 50 day moving average of $72.92 and a 200 day moving average of $79.17. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11. The firm has a market cap of $3.70 billion, a PE ratio of -24.67 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP) last posted 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. The business had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The company’s revenue for the quarter was down 22.6% on a year-over-year basis. During the same period last year, the company earned $1.16 EPS. As a group, equities research analysts forecast that IPG Photonics Co. will post 1.53 earnings per share for the current fiscal year.

IPG Photonics 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.