M&G Plc Has $12.39 Million Stake in IPG Photonics Co. (NASDAQ:IPGP)

M&G Plc boosted its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,485 shares of the semiconductor company’s stock after buying an additional 2,113 shares during the period. M&G Plc owned about 0.37% of IPG Photonics worth $12,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambiar Investors LLC increased its stake in IPG Photonics by 5.7% in the third quarter. Cambiar Investors LLC now owns 108,154 shares of the semiconductor company’s stock valued at $8,038,000 after acquiring an additional 5,813 shares during the period. US Bancorp DE grew its stake in shares of IPG Photonics by 101.2% in the 3rd quarter. US Bancorp DE now owns 7,202 shares of the semiconductor company’s stock valued at $535,000 after purchasing an additional 3,623 shares during the period. Roubaix Capital LLC acquired a new position in shares of IPG Photonics in the 3rd quarter worth approximately $2,620,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of IPG Photonics during the 3rd quarter worth approximately $303,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in IPG Photonics by 10.0% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 76,752 shares of the semiconductor company’s stock valued at $5,704,000 after buying an additional 7,009 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Raymond James reduced their price target on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus dropped their price objective 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, Benchmark reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Up 0.2 %

Shares of IPGP opened at $85.75 on Friday. The stock’s fifty day simple moving average is $73.25 and its 200-day simple moving average is $79.22. The firm has a market capitalization of $3.71 billion, a PE ratio of -24.71 and a beta of 0.98. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $111.11.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. During the same period last year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was down 22.6% compared to the same quarter last year. Analysts anticipate that IPG Photonics Co. will post 1.53 EPS 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.