Motley Fool Asset Management LLC Acquires 9,851 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Motley Fool Asset Management LLC grew its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 78.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,372 shares of the semiconductor company’s stock after buying an additional 9,851 shares during the quarter. Motley Fool Asset Management LLC’s holdings in IPG Photonics were worth $2,029,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Invenomic Capital Management LP grew its stake in shares of IPG Photonics by 19.0% during the first quarter. Invenomic Capital Management LP now owns 258,255 shares of the semiconductor company’s stock valued at $23,421,000 after buying an additional 41,277 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of IPG Photonics by 25.5% in the first quarter. Kennedy Capital Management LLC now owns 33,326 shares of the semiconductor company’s stock valued at $3,022,000 after purchasing an additional 6,781 shares during the period. Caxton Associates LP boosted its holdings in shares of IPG Photonics by 100.7% in the first quarter. Caxton Associates LP now owns 9,418 shares of the semiconductor company’s stock valued at $854,000 after purchasing an additional 4,726 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of IPG Photonics by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,865 shares of the semiconductor company’s stock valued at $1,711,000 after purchasing an additional 939 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of IPG Photonics in the first quarter valued at approximately $1,201,000. Institutional investors own 93.79% of the company’s stock.

Insider Activity

In other news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the sale, the director now owns 4,319 shares in the company, valued at approximately $367,978.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 38.00% of the company’s stock.

IPG Photonics Stock Performance

IPG Photonics stock traded down $0.80 during mid-day trading on Wednesday, reaching $80.40. 309,977 shares of the company were exchanged, compared to its average volume of 267,076. The business has a fifty day moving average of $85.74 and a 200 day moving average of $88.81. The firm has a market cap of $3.66 billion, a P/E ratio of 20.72 and a beta of 1.01. IPG Photonics Co. has a 12-month low of $79.80 and a 12-month high of $132.99.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The company had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $259.31 million. During the same quarter in the prior year, the company earned $1.31 EPS. The firm’s quarterly revenue was down 24.2% on a year-over-year basis. Sell-side analysts predict that IPG Photonics Co. will post 2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IPGP shares. Citigroup lowered their price target on IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus lowered their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Finally, Raymond James lowered their price target on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday. 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 given a strong buy rating to the company. According to MarketBeat, IPG Photonics currently has an average rating of “Hold” and an average price target of $93.40.

About IPG Photonics

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.