IPG Photonics Co. (NASDAQ:IPGP) Shares Bought by ARGA Investment Management LP

ARGA Investment Management LP increased its position in IPG Photonics Co. (NASDAQ:IPGP) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,040 shares of the semiconductor company’s stock after buying an additional 1,247 shares during the period. ARGA Investment Management LP’s holdings in IPG Photonics were worth $1,787,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IPGP. KBC Group NV grew its stake in IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 365 shares during the period. Innealta Capital LLC purchased a new stake in shares of IPG Photonics in the second quarter valued at $85,000. Assetmark Inc. grew its position in shares of IPG Photonics by 28.3% in the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after purchasing an additional 295 shares during the period. FMR LLC increased its stake in IPG Photonics by 10.4% in the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 153 shares during the last quarter. Finally, Covestor Ltd lifted its position in IPG Photonics by 7.7% during the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Analyst Ratings Changes

IPGP has been the subject of several recent analyst reports. Benchmark restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $93.50.

IPG Photonics Stock Performance

Shares of NASDAQ:IPGP opened at $78.04 on Friday. The business has a 50-day moving average of $76.55 and a two-hundred day moving average of $77.96. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11.

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 analysts’ consensus estimates 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 business had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. During the same quarter in the previous year, the business earned $1.16 EPS. The company’s revenue for the quarter was down 22.6% on a year-over-year basis. As a group, equities research analysts anticipate that IPG Photonics Co. will post 1.51 EPS for the current 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.