Princeton Capital Management LLC Sells 2,185 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Princeton Capital Management LLC reduced its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 29.4% in the 3rd quarter, Holdings Channel reports. The firm owned 5,250 shares of the semiconductor company’s stock after selling 2,185 shares during the quarter. Princeton Capital Management LLC’s holdings in IPG Photonics were worth $390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IPGP. Vanguard Group Inc. raised its position in shares of IPG Photonics by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock worth $277,207,000 after acquiring an additional 11,830 shares during the last quarter. Dimensional Fund Advisors LP increased its position in IPG Photonics by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock valued at $84,054,000 after purchasing an additional 125,958 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in IPG Photonics by 5.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after purchasing an additional 54,166 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of 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 purchasing an additional 11,548 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of 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 valued at $41,432,000 after purchasing an additional 10,775 shares during the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IPGP. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Raymond James dropped their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note 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 issued a strong buy rating to the company. According to data from MarketBeat.com, IPG Photonics has a consensus rating of “Hold” and an average target price of $93.50.

IPG Photonics Stock Performance

IPGP opened at $72.99 on Tuesday. IPG Photonics Co. has a 1-year low of $61.86 and a 1-year high of $111.11. The company’s fifty day moving average price is $74.70 and its two-hundred day moving average price is $78.77.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.10. The business had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The firm’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 EPS. Equities analysts forecast that IPG Photonics Co. will post 1.53 earnings per share 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.