Handelsinvest Investeringsforvaltning cut its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 55.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the semiconductor company’s stock after selling 12,565 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in IPG Photonics were worth $1,356,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. TRUE Private Wealth Advisors acquired a new stake in shares of IPG Photonics in the second quarter valued at approximately $38,000. Meeder Asset Management Inc. grew its stake in shares of IPG Photonics by 222.1% during the third quarter. Meeder Asset Management Inc. now owns 277 shares of the semiconductor company’s stock worth $38,000 after buying an additional 191 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in shares of IPG Photonics during the second quarter worth $42,000. Cerebellum GP LLC bought a new stake in shares of IPG Photonics during the third quarter worth $50,000. Finally, Signaturefd LLC grew its stake in shares of IPG Photonics by 322.5% during the second quarter. Signaturefd LLC now owns 507 shares of the semiconductor company’s stock worth $78,000 after buying an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 64.22% of the company’s stock.
IPGP has been the topic of a number of research reports. DA Davidson decreased their target price on shares of IPG Photonics to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Raymond James decreased their target price on shares of IPG Photonics from $204.00 to $190.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 31st. Susquehanna Bancshares set a $127.00 target price on shares of IPG Photonics and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Canaccord Genuity set a $150.00 target price on shares of IPG Photonics and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Zacks Investment Research raised shares of IPG Photonics from a “sell” rating to a “hold” rating and set a $115.00 target price on the stock in a research note on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $163.33.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.07). IPG Photonics had a return on equity of 13.68% and a net margin of 22.23%. The business had revenue of $363.80 million during the quarter, compared to the consensus estimate of $352.31 million. During the same period in the prior year, the firm earned $2.21 EPS. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, equities analysts predict that IPG Photonics Co. will post 4.78 EPS for the current fiscal year.
In related news, insider Igor Samartsev sold 800 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $130.01, for a total value of $104,008.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 33.90% of the company’s stock.
IPG Photonics Company Profile
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
Want to see what other hedge funds are holding IPGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IPG Photonics Co. (NASDAQ:IPGP).
Receive News & Ratings for IPG Photonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics and related companies with MarketBeat.com's FREE daily email newsletter.