Geode Capital Management LLC Decreases Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Geode Capital Management LLC cut its stake in IPG Photonics Co. (NASDAQ:IPGP) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 590,634 shares of the semiconductor company’s stock after selling 5,018 shares during the period. Geode Capital Management LLC owned approximately 1.37% of IPG Photonics worth $43,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN grew its holdings in IPG Photonics by 8.9% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock valued at $39,749,000 after buying an additional 43,874 shares in the last quarter. Barclays PLC grew 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 valued at $2,883,000 after purchasing an additional 11,562 shares during the period. XTX Topco Ltd acquired a new stake in IPG Photonics during the third quarter worth about $356,000. Jane Street Group LLC raised its stake in IPG Photonics by 100.4% during the third 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 period. Finally, Systematic Financial Management LP boosted its holdings in IPG Photonics by 8.2% in the 3rd quarter. Systematic Financial Management LP now owns 123,902 shares of the semiconductor company’s stock valued at $9,208,000 after purchasing an additional 9,405 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IPGP. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. 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 given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $93.50.

IPG Photonics Trading Up 1.4 %

Shares of NASDAQ IPGP opened at $74.84 on Tuesday. The stock has a market capitalization of $3.24 billion, a PE ratio of -21.57 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 has a fifty day simple moving average of $77.63 and a 200-day simple moving average of $76.80.

IPG Photonics (NASDAQ:IPGP) last released its earnings results 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 company had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. IPG Photonics’s revenue was down 22.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. On average, equities analysts predict that IPG Photonics Co. will post 1.51 earnings per share for the current year.

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.