Quantbot Technologies LP Acquires 8,507 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Quantbot Technologies LP grew its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 57.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,253 shares of the semiconductor company’s stock after buying an additional 8,507 shares during the quarter. Quantbot Technologies LP owned 0.05% of IPG Photonics worth $1,728,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Covestor Ltd boosted its stake in IPG Photonics by 7.7% in the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 133 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of IPG Photonics by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock valued at $1,902,000 after purchasing an additional 193 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of IPG Photonics by 4.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock worth $585,000 after purchasing an additional 278 shares during the last quarter. Assetmark Inc. increased its position in shares of IPG Photonics by 28.3% during the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after purchasing an additional 295 shares in the last quarter. Finally, KBC Group NV lifted its holdings in IPG Photonics by 50.6% during the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 365 shares during the last quarter. 93.79% of the stock is owned by institutional investors.

IPG Photonics Price Performance

Shares of IPG Photonics stock opened at $78.04 on Friday. The firm has a 50 day simple moving average of $76.40 and a 200 day simple moving average of $78.12. IPG Photonics Co. has a fifty-two week low of $61.86 and a fifty-two week high of $111.11. The firm has a market cap of $3.38 billion, a P/E ratio of -22.49 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The company had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The firm’s quarterly revenue was down 22.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 earnings per share. On average, sell-side analysts expect that IPG Photonics Co. will post 1.51 EPS for the current year.

Wall Street Analyst Weigh In

IPGP has been the topic of several research analyst reports. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $93.50.

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.