IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Royce & Associates LP

Royce & Associates LP cut its stake in IPG Photonics Co. (NASDAQ:IPGP) by 14.6% in the third quarter, Holdings Channel reports. The firm owned 164,028 shares of the semiconductor company’s stock after selling 28,060 shares during the period. Royce & Associates LP’s holdings in IPG Photonics were worth $12,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of IPGP. US Bancorp DE raised its position in IPG Photonics by 87.8% during the 1st quarter. US Bancorp DE now owns 3,676 shares of the semiconductor company’s stock worth $333,000 after buying an additional 1,719 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in IPG Photonics by 12.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 37,385 shares of the semiconductor company’s stock worth $3,390,000 after buying an additional 4,178 shares during the last quarter. Vanguard Group Inc. raised its position in IPG Photonics by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock worth $277,207,000 after buying an additional 11,830 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of IPG Photonics during the 1st quarter valued at approximately $3,665,000. Finally, Covestor Ltd increased its holdings in shares of IPG Photonics by 94.2% during the 1st quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 838 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James cut their target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. 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 report on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed 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 given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, IPG Photonics has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $73.45 on Friday. The firm has a market cap of $3.18 billion, a PE ratio of -21.17 and a beta of 0.98. The firm has a fifty day moving average of $74.70 and a 200 day moving average of $78.80. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. The company had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The firm’s revenue was down 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. On average, equities analysts predict that IPG Photonics Co. will post 1.53 EPS 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.