Victory Capital Management Inc. Boosts Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Victory Capital Management Inc. boosted its position in IPG Photonics Co. (NASDAQ:IPGP) by 23.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,205 shares of the semiconductor company’s stock after purchasing an additional 1,385 shares during the quarter. Victory Capital Management Inc.’s holdings in IPG Photonics were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of IPG Photonics during the 2nd quarter worth $85,000. Assetmark Inc. lifted its holdings in shares of IPG Photonics by 28.3% during the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after acquiring an additional 295 shares during the last quarter. Covestor Ltd lifted its holdings in shares of IPG Photonics by 7.7% during the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after acquiring an additional 133 shares during the last quarter. CWM LLC lifted its holdings in shares of IPG Photonics by 226.4% during the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock worth $181,000 after acquiring an additional 1,689 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of IPG Photonics during the 2nd quarter worth $223,000. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IPGP has been the subject of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Up 1.0 %

Shares of NASDAQ:IPGP opened at $78.04 on Friday. The stock has a market cap of $3.38 billion, a PE ratio of -22.49 and a beta of 0.98. The company’s fifty day moving average is $76.40 and its 200 day moving average is $78.12. IPG Photonics Co. has a 52 week low of $61.86 and a 52 week high of $111.11.

IPG Photonics (NASDAQ:IPGP) last issued its 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 company 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 firm’s revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. Sell-side analysts anticipate that IPG Photonics Co. will post 1.51 EPS for the current 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.