JPMorgan Chase & Co. Purchases 28,003 Shares of IPG Photonics Co. (NASDAQ:IPGP)

JPMorgan Chase & Co. increased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 22.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 151,142 shares of the semiconductor company’s stock after purchasing an additional 28,003 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.35% of IPG Photonics worth $11,233,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC increased its stake in shares of IPG Photonics by 100.4% during the 3rd quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company’s stock worth $1,618,000 after purchasing an additional 10,906 shares during the last quarter. 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 during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in shares of IPG Photonics by 2.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock worth $41,432,000 after purchasing an additional 10,775 shares in the last quarter. Barclays PLC boosted its holdings in shares of IPG Photonics by 42.5% in the third quarter. Barclays PLC now owns 38,787 shares of the semiconductor company’s stock worth $2,883,000 after acquiring an additional 11,562 shares during the period. Finally, LHM Inc. lifted its holdings in shares of IPG Photonics by 61.1% in the second quarter. LHM Inc. now owns 45,775 shares of the semiconductor company’s stock worth $3,863,000 after buying an additional 17,354 shares in the last quarter. 93.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IPGP. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Finally, Benchmark reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, IPG Photonics presently has an average rating of “Hold” and an average price target of $93.50.

IPG Photonics Price Performance

IPGP stock opened at $72.20 on Monday. The business has a 50 day simple moving average of $76.59 and a two-hundred day simple moving average of $75.84. IPG Photonics Co. has a 1-year low of $61.86 and a 1-year high of $104.19. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -20.81 and a beta of 0.96.

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