Fmr LLC Purchases 153 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Fmr LLC lifted its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,620 shares of the semiconductor company’s stock after acquiring an additional 153 shares during the period. Fmr LLC’s holdings in IPG Photonics were worth $120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IPGP. KBC Group NV lifted its stake in IPG Photonics by 50.6% in the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 365 shares during the period. Innealta Capital LLC bought a new stake in shares of IPG Photonics in the 2nd quarter valued at $85,000. Assetmark Inc. lifted its position in shares of IPG Photonics by 28.3% during the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after acquiring an additional 295 shares during the period. Covestor Ltd boosted its stake in IPG Photonics by 7.7% during the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after acquiring an additional 133 shares in the last quarter. Finally, CWM LLC grew its holdings in IPG Photonics by 226.4% in the third quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,689 shares during the period. 93.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IPGP has been the topic of a number of research analyst reports. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Down 0.8 %

IPGP stock opened at $73.84 on Monday. The firm has a market capitalization of $3.19 billion, a PE ratio of -21.28 and a beta of 0.96. IPG Photonics Co. has a twelve month low of $61.86 and a twelve month high of $111.11. The stock’s 50 day moving average is $77.65 and its 200-day moving average is $76.88.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.10. The business had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The business’s revenue was down 22.6% on a year-over-year basis. During the same period last year, the business earned $1.16 EPS. On average, equities research analysts anticipate that IPG Photonics Co. will post 1.51 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.