IPG Photonics Co. (NASDAQ:IPGP) Shares Acquired by Jane Street Group LLC

Jane Street Group LLC increased its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 100.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,771 shares of the semiconductor company’s stock after purchasing an additional 10,906 shares during the period. Jane Street Group LLC owned 0.05% of IPG Photonics worth $1,618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in shares of IPG Photonics by 26.4% during the second quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock worth $25,580,000 after buying an additional 63,369 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of IPG Photonics by 4.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after purchasing an additional 278 shares during the last quarter. Waterfront Wealth Inc. increased its holdings in shares of IPG Photonics by 30.8% in the second quarter. Waterfront Wealth Inc. now owns 11,844 shares of the semiconductor company’s stock valued at $1,000,000 after purchasing an additional 2,791 shares during the period. Fiera Capital Corp increased its holdings in shares of IPG Photonics by 0.9% in the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock valued at $1,902,000 after purchasing an additional 193 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of IPG Photonics by 28.9% during the second quarter. Federated Hermes Inc. now owns 27,437 shares of the semiconductor company’s stock worth $2,315,000 after purchasing an additional 6,153 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IPGP. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Northcoast Research lowered IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reissued 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, 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $93.50.

IPG Photonics Stock Up 0.1 %

Shares of NASDAQ:IPGP opened at $76.41 on Friday. The company has a market capitalization of $3.30 billion, a P/E ratio of -22.02 and a beta of 0.96. The stock’s fifty day simple moving average is $77.68 and its 200-day simple moving average is $76.73. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.09.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. The company had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The firm’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. On average, sell-side analysts anticipate 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.