IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in IPG Photonics Co. (NASDAQ:IPGP) by 36.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,904 shares of the semiconductor company’s stock after selling 21,935 shares during the period. Raymond James & Associates owned 0.08% of IPG Photonics worth $2,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Fiera Capital Corp boosted its holdings in 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 last quarter. State of Michigan Retirement System boosted its stake in shares of IPG Photonics by 2.8% during the 1st quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock worth $662,000 after acquiring an additional 200 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of IPG Photonics by 4.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock worth $585,000 after acquiring an additional 278 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of IPG Photonics by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 25,871 shares of the semiconductor company’s stock worth $2,346,000 after acquiring an additional 334 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of IPG Photonics by 11.2% during the 1st quarter. Inspire Investing LLC now owns 3,922 shares of the semiconductor company’s stock worth $356,000 after acquiring an additional 395 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on IPGP. Raymond James lowered their target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Stifel Nicolaus reduced their price target on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Benchmark restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $93.50.

IPG Photonics Stock Down 2.1 %

Shares of IPGP stock opened at $80.57 on Tuesday. IPG Photonics Co. has a 52 week low of $61.86 and a 52 week high of $111.11. The stock has a market capitalization of $3.48 billion, a PE ratio of -23.70 and a beta of 0.98. The firm has a 50 day moving average of $72.13 and a two-hundred day moving average of $79.18.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data 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. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The business had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. During the same period in the previous year, the company earned $1.16 EPS. The company’s revenue for the quarter was down 22.6% on a year-over-year basis. Analysts expect that IPG Photonics Co. will post 1.53 EPS for the current fiscal 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.