4,704 Shares in IPG Photonics Co. (NASDAQ:IPGP) Acquired by Aigen Investment Management LP

Aigen Investment Management LP purchased a new position in IPG Photonics Co. (NASDAQ:IPGP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,704 shares of the semiconductor company’s stock, valued at approximately $350,000.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in IPG Photonics by 58.7% in the 2nd quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock valued at $41,282,000 after buying an additional 180,951 shares in the last quarter. M&G Plc purchased a new position in IPG Photonics in the 1st quarter valued at approximately $15,929,000. Dimensional Fund Advisors LP grew 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 valued at $84,054,000 after buying an additional 125,958 shares in the last quarter. Bank of New York Mellon Corp grew its stake in IPG Photonics by 26.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock valued at $25,580,000 after buying an additional 63,369 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew 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 valued at $72,168,000 after buying an additional 54,166 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

Wall Street Analysts Forecast Growth

IPGP has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Raymond James reduced their price target 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. Benchmark restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus reduced their price target 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. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Performance

Shares of NASDAQ:IPGP opened at $73.45 on Friday. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.11. The firm has a fifty day moving average of $74.70 and a 200 day moving average of $78.84. The firm has a market capitalization of $3.18 billion, a PE ratio of -21.17 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. During the same period in the previous year, the business earned $1.16 earnings per share. The firm’s quarterly revenue was down 22.6% compared to the same quarter last year. On average, sell-side analysts forecast that IPG Photonics Co. will post 1.53 EPS 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.