Exchange Traded Concepts LLC Has $20.15 Million Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Exchange Traded Concepts LLC boosted its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 18.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 271,061 shares of the semiconductor company’s stock after buying an additional 41,598 shares during the period. Exchange Traded Concepts LLC owned approximately 0.59% of IPG Photonics worth $20,145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Fiera Capital Corp raised its position in IPG Photonics by 0.9% during the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock valued at $1,902,000 after buying an additional 193 shares during the period. State of Michigan Retirement System raised its position in IPG Photonics by 2.8% during the first quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock valued at $662,000 after buying an additional 200 shares during the period. Commonwealth Equity Services LLC raised its position in IPG Photonics by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after buying an additional 278 shares during the period. Texas Permanent School Fund Corp increased its position in IPG Photonics by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 25,871 shares of the semiconductor company’s stock worth $2,346,000 after purchasing an additional 334 shares during the last quarter. Finally, Inspire Investing LLC increased its position in IPG Photonics by 11.2% in the 1st quarter. Inspire Investing LLC now owns 3,922 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 395 shares during the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Raymond James dropped their target price on 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 target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given 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 target price of $93.50.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $75.63 on Friday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 19.49 and a beta of 1.00. The business’s 50-day simple moving average is $69.23 and its 200-day simple moving average is $80.32. 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 quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The company had revenue of $257.60 million for the quarter, compared to analyst estimates of $259.31 million. During the same period in the prior year, the company posted $1.31 EPS. The business’s revenue was down 24.2% on a year-over-year basis. As a group, equities research analysts forecast that IPG Photonics Co. will post 1.38 earnings per share for the current year.

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.