IPG Photonics Co. (NASDAQ:IPGP) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. raised its stake in IPG Photonics Co. (NASDAQ:IPGP) by 463.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 22,453 shares of the semiconductor company’s stock after acquiring an additional 18,470 shares during the period. Edgestream Partners L.P.’s holdings in IPG Photonics were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Covestor Ltd grew its position in IPG Photonics by 7.7% in the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 133 shares during the last quarter. FMR LLC boosted its holdings in shares of IPG Photonics by 10.4% in the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after acquiring an additional 153 shares in the last quarter. Fiera Capital Corp increased its stake in shares of IPG Photonics by 0.9% during the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock worth $1,902,000 after acquiring an additional 193 shares during the period. Commonwealth Equity Services LLC raised its holdings in IPG Photonics by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock worth $585,000 after purchasing an additional 278 shares in the last quarter. Finally, Assetmark Inc. lifted its position in IPG Photonics by 28.3% in the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after purchasing an additional 295 shares during the period. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on IPGP shares. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IPG Photonics currently has an average rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Performance

Shares of NASDAQ:IPGP opened at $77.81 on Wednesday. The business’s fifty day moving average price is $76.87 and its two-hundred day moving average price is $77.74. The stock has a market cap of $3.37 billion, a PE ratio of -22.42 and a beta of 0.96. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.10. The firm had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. During the same quarter in the previous year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 22.6% on a year-over-year basis. As a group, equities research analysts predict that IPG Photonics Co. will post 1.51 earnings per share for the current fiscal year.

IPG Photonics Company 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.