US Bancorp DE Buys 3,623 Shares of IPG Photonics Co. (NASDAQ:IPGP)

US Bancorp DE increased its stake in IPG Photonics Co. (NASDAQ:IPGP) by 101.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,202 shares of the semiconductor company’s stock after purchasing an additional 3,623 shares during the quarter. US Bancorp DE’s holdings in IPG Photonics were worth $535,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of IPGP. Roubaix Capital LLC bought a new position in shares of IPG Photonics during the 3rd quarter valued at $2,620,000. Wealth Enhancement Advisory Services LLC purchased a new position in IPG Photonics in the third quarter worth about $303,000. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in shares of IPG Photonics by 10.0% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 76,752 shares of the semiconductor company’s stock worth $5,704,000 after acquiring an additional 7,009 shares during the period. Washington Capital Management Inc. bought a new stake in shares of IPG Photonics in the third quarter worth approximately $483,000. Finally, Creative Planning grew its stake in shares of IPG Photonics by 93.3% in the third quarter. Creative Planning now owns 6,071 shares of the semiconductor company’s stock worth $451,000 after acquiring an additional 2,931 shares during the period. Institutional investors own 93.79% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stifel Nicolaus cut their target price 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. Raymond James dropped their price target on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Benchmark reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Down 2.3 %

IPGP stock opened at $81.93 on Tuesday. IPG Photonics Co. has a twelve month low of $61.86 and a twelve month high of $111.11. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -23.61 and a beta of 0.98. The firm’s fifty day simple moving average is $73.83 and its two-hundred day simple moving average is $79.06.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The firm 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 business’s revenue for the quarter was down 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. As a group, equities research analysts expect that IPG Photonics Co. will post 1.53 EPS 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.