Handelsbanken Fonder AB Cuts Stake in IPG Photonics Co. (NASDAQ:IPGP)

Handelsbanken Fonder AB lowered its position in shares of IPG Photonics Co. (NASDAQ:IPGPGet Rating) by 36.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,600 shares of the semiconductor company’s stock after selling 2,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in IPG Photonics were worth $304,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Wipfli Financial Advisors LLC purchased a new position in IPG Photonics during the 3rd quarter worth $36,000. Quadrant Capital Group LLC raised its position in IPG Photonics by 195.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 478 shares of the semiconductor company’s stock worth $45,000 after buying an additional 316 shares during the last quarter. Truvestments Capital LLC purchased a new position in IPG Photonics during the 2nd quarter worth $55,000. CoreCap Advisors LLC purchased a new position in shares of IPG Photonics in the 2nd quarter valued at about $60,000. Finally, Van ECK Associates Corp purchased a new position in shares of IPG Photonics in the 2nd quarter valued at about $90,000. Hedge funds and other institutional investors own 63.50% of the company’s stock.

IPG Photonics Price Performance

IPG Photonics stock opened at $106.76 on Thursday. IPG Photonics Co. has a 12-month low of $79.88 and a 12-month high of $170.60. The stock has a market capitalization of $5.20 billion, a P/E ratio of 20.97, a P/E/G ratio of 10.42 and a beta of 1.24. The firm’s 50-day moving average is $93.08 and its two-hundred day moving average is $92.92.

IPG Photonics (NASDAQ:IPGPGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.30. IPG Photonics had a net margin of 18.34% and a return on equity of 10.58%. The company had revenue of $349.01 million for the quarter, compared to analysts’ expectations of $361.29 million. As a group, analysts forecast that IPG Photonics Co. will post 4.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. DA Davidson reiterated a “buy” rating on shares of IPG Photonics in a report on Tuesday, January 3rd. StockNews.com began coverage on shares of IPG Photonics in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James raised shares of IPG Photonics from an “underperform” rating to a “market perform” rating in a research note on Tuesday, November 1st. Stifel Nicolaus began coverage on shares of IPG Photonics in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $110.00 price objective on the stock. Finally, Benchmark lowered their price objective on shares of IPG Photonics from $165.00 to $130.00 in a research note on Wednesday, November 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.20.

IPG Photonics Company Profile

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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. The company's 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.

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Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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