Wedge Capital Management L L P NC Sells 12,565 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Wedge Capital Management L L P NC lowered its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 19.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 51,862 shares of the semiconductor company’s stock after selling 12,565 shares during the period. Wedge Capital Management L L P NC owned 0.12% of IPG Photonics worth $3,854,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of IPG Photonics by 0.4% during the 1st 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 period. Dimensional Fund Advisors LP lifted its holdings 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 last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in IPG Photonics by 1.3% during the second 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. Disciplined Growth Investors Inc. MN increased its holdings in shares of IPG Photonics by 2.2% in the second 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. Finally, Pacer Advisors Inc. raised its position in shares of IPG Photonics by 58.7% in the second quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock valued at $41,282,000 after purchasing an additional 180,951 shares during the period. Institutional investors and hedge funds own 93.79% of the company’s stock.

IPG Photonics Trading Down 1.4 %

NASDAQ IPGP opened at $75.14 on Wednesday. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 19.37 and a beta of 1.00. The company has a 50 day moving average of $69.41 and a 200-day moving average of $80.14. IPG Photonics Co. has a 1-year low of $61.86 and a 1-year high of $111.11.

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

Analysts Set New Price Targets

A number of brokerages recently commented on IPGP. Stifel Nicolaus decreased 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. Raymond James lowered their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Benchmark downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $93.50.

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.