Stifel Financial Corp Lowers Stake in IPG Photonics Co. (NASDAQ:IPGP)

Stifel Financial Corp lowered its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,398 shares of the semiconductor company’s stock after selling 1,310 shares during the quarter. Stifel Financial Corp’s holdings in IPG Photonics were worth $1,144,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Covestor Ltd raised its position in shares of IPG Photonics by 7.7% during the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 133 shares during the last quarter. FMR LLC raised its position in shares of IPG Photonics by 10.4% during the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 153 shares during the last quarter. Fiera Capital Corp raised its position in shares of IPG Photonics by 0.9% during the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock valued at $1,902,000 after buying an additional 193 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of IPG Photonics by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after buying an additional 278 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Performance

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

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The company had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. During the same quarter in the previous year, the business posted $1.16 earnings per share. IPG Photonics’s quarterly revenue was down 22.6% on a year-over-year basis. As a group, research analysts forecast that IPG Photonics Co. will post 1.51 earnings per share for the current year.

Analysts Set New Price Targets

IPGP has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. 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, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $93.50.

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.