LHM Inc. Increases Position in IPG Photonics Co. (NASDAQ:IPGP)

LHM Inc. boosted its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 61.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,775 shares of the semiconductor company’s stock after acquiring an additional 17,354 shares during the period. IPG Photonics accounts for 1.6% of LHM Inc.’s portfolio, making the stock its 12th largest holding. LHM Inc. owned approximately 0.10% of IPG Photonics worth $3,863,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Treasurer of the State of North Carolina grew its position in shares of IPG Photonics by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 13,300 shares of the semiconductor company’s stock worth $1,444,000 after buying an additional 130 shares during the last quarter. Fiera Capital Corp boosted its holdings in IPG Photonics by 0.9% during the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock worth $1,902,000 after buying an additional 193 shares in the last quarter. State of Michigan Retirement System raised its position in IPG Photonics by 2.8% during the first quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock worth $662,000 after acquiring an additional 200 shares during the period. Commonwealth Equity Services LLC raised its position in IPG Photonics by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock worth $585,000 after acquiring an additional 278 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in shares of IPG Photonics by 8.5% in the first quarter. Verdence Capital Advisors LLC now owns 3,616 shares of the semiconductor company’s stock valued at $328,000 after buying an additional 284 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Stock Performance

Shares of NASDAQ:IPGP opened at $74.32 on Tuesday. The company has a market cap of $3.39 billion, a P/E ratio of 19.15 and a beta of 1.00. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11. The business’s 50-day simple moving average is $70.88 and its 200 day simple moving average is $81.21.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The firm had revenue of $257.60 million during the quarter, compared to analyst estimates of $259.31 million. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. IPG Photonics’s revenue was down 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 EPS. Analysts predict that IPG Photonics Co. will post 1.38 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IPGP shares. Stifel Nicolaus cut 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 report on Wednesday, July 31st. Raymond James lowered 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. Finally, Benchmark downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.40.

IPG Photonics Company 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.