Black Creek Investment Management Inc. Has $6.64 Million Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Black Creek Investment Management Inc. trimmed its position in IPG Photonics Co. (NASDAQ:IPGP) by 34.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,626 shares of the semiconductor company’s stock after selling 41,374 shares during the quarter. IPG Photonics accounts for 0.2% of Black Creek Investment Management Inc.’s portfolio, making the stock its 22nd largest position. Black Creek Investment Management Inc. owned about 0.17% of IPG Photonics worth $6,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new position in shares of IPG Photonics in the 1st quarter valued at $52,000. Mather Group LLC. acquired a new position in IPG Photonics in the first quarter worth about $67,000. Innealta Capital LLC acquired a new position in IPG Photonics in the second quarter worth about $85,000. TFO Wealth Partners LLC lifted its stake in IPG Photonics by 38,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock worth $124,000 after purchasing an additional 1,140 shares during the period. Finally, Covestor Ltd boosted its holdings in IPG Photonics by 94.2% during the first quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 838 shares in the last quarter. 93.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IPGP shares. Benchmark downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus reduced 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. Finally, Raymond James dropped their target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IPG Photonics presently has an average rating of “Hold” and a consensus target price of $93.40.

IPG Photonics Stock Up 4.5 %

Shares of NASDAQ IPGP opened at $67.67 on Monday. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $111.11. The firm’s 50-day simple moving average is $74.64 and its 200 day simple moving average is $82.59. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 17.44 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $259.31 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. IPG Photonics’s revenue for the quarter was down 24.2% on a year-over-year basis. On average, equities analysts expect 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.