January 30, 2023

US Bancorp DE reduced its stake in IPG Photonics Co. (NASDAQ:IPGP – Get Rating) stock by 25.5% in the third quarter, according to its recent filing with the Securities and Exchange Commission. The institutional investor owned 3,131 shares of the semiconductor company after selling 1,070 shares during the quarter. US Bancorp DE’s holdings in IPG Photonics were worth $264,000 at the end of the last reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IPGP. JPMorgan Chase & Co. increased its position in IPG Photonics by 77.4% in the first quarter. JPMorgan Chase & Co. now owns 51,443 shares of the $5,645,000 semiconductor company after purchasing an additional 22,446 shares last quarter. PNC Financial Services Group Inc. increased its position in IPG Photonics by 21.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,364 shares of the $370,000 semiconductor company after acquiring an additional 592 shares last quarter. MetLife Investment Management LLC increased its position in IPG Photonics by 24.7% during the first quarter. MetLife Investment Management LLC now owns 9,842 shares of the semiconductor company, valued at $1,080,000, after purchasing an additional 1,951 shares last quarter. Panagora Asset Management Inc. increased its position in IPG Photonics by 309.6% in the first quarter. Panagora Asset Management Inc. now owns 8,876 shares of the semiconductor company, valued at $974,000, after purchasing an additional 6,709 shares last quarter. Finally, the Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in IPG Photonics by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,779 shares of the semiconductor company valued at $525,000 after purchasing an additional 296 shares last quarter. Institutional investors own 63.50% of the company’s shares.

Analysts set new price targets

Several brokerage firms have issued reports on IPGP. DA Davidson reiterated a “buy” rating on IPG Photonics shares in a research report on Tuesday, January 3rd. Benchmark lowered its target price on IPG Photonics to $130.00 from $165.00 in a research report on Wednesday, November 2nd. Stifel Nicolaus took over coverage of IPG Photonics in a research report on Wednesday, November 2nd. They issued a buy rating and a price target of $110.00 on the company. StockNews.com reported on IPG Photonics in a research report on Wednesday, October 12th. They gave the company a “hold” rating. Finally, on Tuesday, November 1st, Raymond James upgraded IPG Photonics from an underperform rating to a market perform rating in a research report. Three investment analysts have rated the stock with a hold rating and three with a buy rating. According to MarketBeat.com, IPG Photonics currently has an average rating of Moderate Buy and a consensus price target of $134.20.

Price development of IPG Photonics

IPGP stock shares opened at $110.34 on Thursday. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-to-growth ratio of 11.27 and a beta of 1.24. The company has a 50-day moving average of $96.84 and a 200-day moving average of $93.98. IPG Photonics Co. has a 1 year low of $79.88 and a 1 year high of $161.97.

IPG Photonics (NASDAQ:IPGP – Get Rating) last reported earnings results on Tuesday, November 1st. The semiconductor company reported earnings per share (EPS) of $1.47 for the quarter, beating analyst consensus estimates of $1.17 by $0.30. The company had revenue of $349.01 million for the quarter, compared to analyst estimates of $361.29 million. IPG Photonics had a return on equity of 10.58% and a net margin of 18.34%. As a group, equity analysts expect IPG Photonics Co. to report year-to-date earnings per share of 4.79.

IPG Photonics company profile

(received rating)

IPG Photonics Corporation designs, manufactures and sells a variety of high power fiber lasers, fiber amplifiers and diode lasers used in various applications primarily in materials processing worldwide. The Company’s laser products include hybrid fiber solid-state lasers with green and ultraviolet wavelengths; fiber pigtail packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed, multi-wavelength, tunable, single-polarization, and single-frequency lasers; and high-performance fiber optic feeder cables, fiber couplers, beam switches, chillers, scanners and other accessories.

Further reading

Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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