IPG Photonics Co. (NASDAQ:IPGP) Shares Acquired by Waterfront Wealth Inc.

Waterfront Wealth Inc. lifted its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 30.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,844 shares of the semiconductor company’s stock after buying an additional 2,791 shares during the period. Waterfront Wealth Inc.’s holdings in IPG Photonics were worth $1,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of IPG Photonics during the fourth quarter worth about $36,365,000. Evoke Wealth LLC purchased a new stake in IPG Photonics during the 4th quarter valued at about $1,640,000. ARGA Investment Management LP purchased a new stake in IPG Photonics during the 4th quarter valued at about $1,067,000. Swedbank AB purchased a new stake in IPG Photonics during the 1st quarter valued at about $2,687,000. Finally, Partnership Wealth Management LLC grew its stake in IPG Photonics by 382.7% during the 1st quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock valued at $1,593,000 after acquiring an additional 13,923 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Stock Down 1.2 %

NASDAQ:IPGP traded down $0.83 on Friday, hitting $68.37. The stock had a trading volume of 420,752 shares, compared to its average volume of 216,977. The company has a fifty day moving average price of $78.39 and a two-hundred day moving average price of $84.11. IPG Photonics Co. has a 1-year low of $65.03 and a 1-year high of $111.11. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 17.62 and a beta of 1.01.

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 the consensus estimate of $0.48 by ($0.03). IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The company had revenue of $257.60 million during the quarter, compared to analyst estimates of $259.31 million. During the same quarter in the prior year, the company posted $1.31 earnings per share. The business’s revenue was down 24.2% compared to the same quarter last year. As a group, analysts anticipate that IPG Photonics Co. will post 1.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IPGP. Raymond James dropped their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Benchmark lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, IPG Photonics currently has an average rating of “Hold” and a consensus target price 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.