Edgestream Partners L.P. Increases Stake in IPG Photonics Co. (NASDAQ:IPGP)

Edgestream Partners L.P. raised its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 463.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,453 shares of the semiconductor company’s stock after buying an additional 18,470 shares during the period. Edgestream Partners L.P. owned approximately 0.05% of IPG Photonics worth $1,669,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. KBC Group NV raised its stake in shares of IPG Photonics by 50.6% in the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 365 shares in the last quarter. Innealta Capital LLC purchased a new stake in IPG Photonics during the 2nd quarter worth about $85,000. Assetmark Inc. raised its position in IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after purchasing an additional 295 shares in the last quarter. FMR LLC boosted its stake in shares of IPG Photonics by 10.4% in the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 153 shares during the period. Finally, Covestor Ltd boosted its stake in shares of 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 period. Institutional investors and hedge funds own 93.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IPGP shares. Benchmark restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $93.50.

IPG Photonics Stock Down 2.4 %

Shares of IPG Photonics stock opened at $77.81 on Wednesday. IPG Photonics Co. has a 52 week low of $61.86 and a 52 week high of $111.11. The firm’s 50 day moving average is $76.87 and its two-hundred day moving average is $77.74. The firm has a market capitalization of $3.37 billion, a P/E ratio of -22.42 and a beta of 0.96.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating 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 firm had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. During the same period last year, the firm posted $1.16 EPS. The company’s revenue was down 22.6% on a year-over-year basis. As a group, research analysts expect that IPG Photonics Co. will post 1.51 earnings per share for the current fiscal 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.