IPG Photonics Co. (NASDAQ:IPGP) Stock Position Increased by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 10.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,752 shares of the semiconductor company’s stock after buying an additional 7,009 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in IPG Photonics were worth $5,704,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in shares of IPG Photonics during the 1st quarter valued at about $52,000. Mather Group LLC. acquired a new stake in IPG Photonics during the first quarter valued at approximately $67,000. Innealta Capital LLC bought a new stake in IPG Photonics during the second quarter worth approximately $85,000. Covestor Ltd boosted its holdings in IPG Photonics by 94.2% during the first quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock worth $157,000 after buying an additional 838 shares in the last quarter. Finally, EntryPoint Capital LLC grew its position in IPG Photonics by 97.6% in the first quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company’s stock worth $178,000 after buying an additional 970 shares during the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Stock Up 0.3 %

IPGP opened at $75.59 on Friday. The firm has a market capitalization of $3.44 billion, a P/E ratio of 19.48 and a beta of 1.00. The stock has a fifty day moving average of $70.06 and a 200-day moving average of $79.80. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $111.11.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The business had revenue of $257.60 million during the quarter, compared to analysts’ expectations of $259.31 million. During the same period in the prior year, the company posted $1.31 earnings per share. The firm’s revenue was down 24.2% on a year-over-year basis. On average, analysts expect that IPG Photonics Co. will post 1.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IPGP. Stifel Nicolaus cut their price objective on 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 reduced their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Finally, Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given 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 currently has a consensus rating of “Hold” and an average price target of $93.50.

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.