Fisher Asset Management LLC Acquires 7,911 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Fisher Asset Management LLC grew its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 192,050 shares of the semiconductor company’s stock after buying an additional 7,911 shares during the period. Fisher Asset Management LLC’s holdings in IPG Photonics were worth $14,273,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of IPG Photonics by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock worth $84,054,000 after purchasing an additional 125,958 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of IPG Photonics by 5.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock valued at $72,168,000 after purchasing an additional 54,166 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of IPG Photonics by 1.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock valued at $77,375,000 after purchasing an additional 11,548 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of IPG Photonics by 37.2% during the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock valued at $49,871,000 after purchasing an additional 181,844 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its holdings in IPG Photonics by 2.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock worth $41,432,000 after acquiring an additional 10,775 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IPGP has been the subject of several recent research reports. Raymond James decreased their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus dropped their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Benchmark restated 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 assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Price Performance

Shares of IPG Photonics stock opened at $77.30 on Thursday. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11. The stock has a market capitalization of $3.34 billion, a P/E ratio of -22.28 and a beta of 0.98. The business’s 50 day simple moving average is $76.10 and its two-hundred day simple moving average is $78.13.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The firm had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. During the same period in the previous year, the firm earned $1.16 earnings per share. The business’s revenue was down 22.6% compared to the same quarter last year. Sell-side 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.