Pacer Advisors Inc. Purchases 181,844 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Pacer Advisors Inc. increased its position in IPG Photonics Co. (NASDAQ:IPGP) by 37.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 671,025 shares of the semiconductor company’s stock after acquiring an additional 181,844 shares during the quarter. Pacer Advisors Inc.’s holdings in IPG Photonics were worth $49,871,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KBC Group NV lifted its stake in shares of IPG Photonics by 50.6% during the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 365 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of IPG Photonics during the 2nd quarter valued at $85,000. Assetmark Inc. lifted its holdings in 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 purchasing an additional 295 shares in the last quarter. Covestor Ltd increased its position in shares of IPG Photonics by 7.7% during the third 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. Finally, CWM LLC lifted its stake in IPG Photonics by 226.4% in the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,689 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors.

IPG Photonics Trading Up 1.8 %

NASDAQ IPGP opened at $74.81 on Friday. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11. The stock’s fifty day moving average price is $75.33 and its 200-day moving average price is $78.54. The stock has a market cap of $3.24 billion, a P/E ratio of -21.56 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. During the same period in the previous year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was down 22.6% compared to the same quarter last year. As a group, analysts forecast that IPG Photonics Co. will post 1.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Benchmark restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Stifel Nicolaus decreased their target price on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Raymond James decreased their price objective on shares of 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $93.50.

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.