Victory Capital Management Inc. Purchases 1,385 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Victory Capital Management Inc. boosted its position in IPG Photonics Co. (NASDAQ:IPGP) by 23.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 7,205 shares of the semiconductor company’s stock after purchasing an additional 1,385 shares during the period. Victory Capital Management Inc.’s holdings in IPG Photonics were worth $535,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Aigen Investment Management LP bought a new stake in IPG Photonics in the 3rd quarter worth about $350,000. Sumitomo Mitsui Trust Group Inc. grew its position in IPG Photonics by 5.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after purchasing an additional 54,166 shares in the last quarter. Baillie Gifford & Co. grew its position in IPG Photonics by 0.4% in the 3rd quarter. Baillie Gifford & Co. now owns 280,347 shares of the semiconductor company’s stock worth $20,835,000 after purchasing an additional 1,053 shares in the last quarter. Chartwell Investment Partners LLC grew its position in IPG Photonics by 135.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 79,363 shares of the semiconductor company’s stock worth $5,899,000 after purchasing an additional 45,645 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in IPG Photonics by 28.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 28,418 shares of the semiconductor company’s stock worth $2,112,000 after purchasing an additional 6,286 shares in the last quarter. 93.79% of the stock is owned by institutional investors.

IPG Photonics Trading Up 1.0 %

Shares of IPGP stock opened at $78.04 on Friday. The stock has a market capitalization of $3.38 billion, a P/E ratio of -22.49 and a beta of 0.98. The firm’s 50 day moving average is $76.40 and its 200 day moving average is $78.12. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations 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 revenue was down 22.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, equities analysts predict that IPG Photonics Co. will post 1.51 EPS for the current year.

Wall Street Analyst Weigh In

IPGP has been the subject of a number of research reports. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, IPG Photonics currently has an average rating of “Hold” and a consensus target price of $93.50.

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.