Victory Capital Management Inc. Sells 309 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Victory Capital Management Inc. decreased its position in IPG Photonics Co. (NASDAQ:IPGP) by 5.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,820 shares of the semiconductor company’s stock after selling 309 shares during the quarter. Victory Capital Management Inc.’s holdings in IPG Photonics were worth $491,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IPGP. Norges Bank bought a new position in IPG Photonics in the fourth quarter worth $36,365,000. M&G Plc bought a new position in shares of IPG Photonics during the first quarter valued at $15,929,000. Artisan Partners Limited Partnership bought a new position in shares of IPG Photonics during the fourth quarter valued at $16,035,000. Invenomic Capital Management LP increased its holdings in shares of IPG Photonics by 123.5% during the fourth quarter. Invenomic Capital Management LP now owns 216,978 shares of the semiconductor company’s stock valued at $23,551,000 after acquiring an additional 119,900 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its holdings in shares of IPG Photonics by 602.2% during the first quarter. Motley Fool Asset Management LLC now owns 87,928 shares of the semiconductor company’s stock valued at $7,974,000 after acquiring an additional 75,407 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Benchmark downgraded IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Raymond James reduced their price target on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $93.40.

IPG Photonics Trading Down 0.9 %

Shares of IPGP stock opened at $70.25 on Monday. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $111.11. The stock has a market capitalization of $3.20 billion, a P/E ratio of 18.11 and a beta of 1.00. The firm’s 50 day moving average is $72.92 and its 200 day moving average is $81.93.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The firm had revenue of $257.60 million during the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The business’s quarterly revenue was down 24.2% on a year-over-year basis. During the same quarter last year, the business earned $1.31 earnings per share. As a group, equities analysts predict that IPG Photonics Co. will post 1.38 earnings per share for the current 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.