Royce & Associates LP Sells 28,060 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Royce & Associates LP lowered its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,028 shares of the semiconductor company’s stock after selling 28,060 shares during the quarter. Royce & Associates LP owned 0.38% of IPG Photonics worth $12,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of IPG Photonics by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock valued at $277,207,000 after acquiring an additional 11,830 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 125,958 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in IPG Photonics by 5.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after buying an additional 54,166 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in IPG Photonics by 1.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock worth $77,375,000 after buying an additional 11,548 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake 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 buying an additional 10,775 shares during the period. Institutional investors own 93.79% of the company’s stock.

Wall Street Analysts Forecast Growth

IPGP has been the topic of several recent analyst reports. Stifel Nicolaus reduced their price target 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. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Raymond James cut their target price 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. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, IPG Photonics has an average rating of “Hold” and an average price target of $93.50.

IPG Photonics Stock Performance

NASDAQ IPGP opened at $73.45 on Friday. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -21.17 and a beta of 0.98. The company’s 50-day simple moving average is $74.70 and its two-hundred day simple moving average is $78.80. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $227.89 million. During the same period last year, the business earned $1.16 EPS. The company’s revenue was down 22.6% compared to the same quarter last year. Equities analysts expect that IPG Photonics Co. will post 1.53 earnings per share for the current fiscal 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.