Assetmark Inc. Increases Stake in IPG Photonics Co. (NASDAQ:IPGP)

Assetmark Inc. grew its stake in IPG Photonics Co. (NASDAQ:IPGP) by 28.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,336 shares of the semiconductor company’s stock after buying an additional 295 shares during the quarter. Assetmark Inc.’s holdings in IPG Photonics were worth $99,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiera Capital Corp lifted its stake in IPG Photonics by 0.9% during the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock worth $1,902,000 after purchasing an additional 193 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in IPG Photonics by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock worth $585,000 after purchasing an additional 278 shares during the last quarter. Donald L. Hagan LLC lifted its stake in IPG Photonics by 19.3% during the second quarter. Donald L. Hagan LLC now owns 3,484 shares of the semiconductor company’s stock worth $294,000 after purchasing an additional 564 shares during the last quarter. Crewe Advisors LLC purchased a new stake in IPG Photonics during the first quarter worth approximately $52,000. Finally, Tidal Investments LLC lifted its stake in IPG Photonics by 10.1% during the first quarter. Tidal Investments LLC now owns 6,601 shares of the semiconductor company’s stock worth $599,000 after purchasing an additional 607 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IPGP shares. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Stifel Nicolaus reduced their price objective on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Raymond James reduced their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.50.

IPG Photonics Trading Down 2.1 %

NASDAQ:IPGP opened at $73.45 on Monday. The firm has a market cap of $3.18 billion, a P/E ratio of -21.17 and a beta of 0.98. The stock’s 50 day simple moving average is $74.70 and its 200-day simple moving average is $78.77. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $111.11.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $233.14 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. Research analysts forecast that IPG Photonics Co. will post 1.53 EPS for the current fiscal year.

IPG Photonics Company 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.