ING Groep NV Makes New $1.53 Million Investment in IPG Photonics Co. (NASDAQ:IPGP)

ING Groep NV acquired a new stake in IPG Photonics Co. (NASDAQ:IPGP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,600 shares of the semiconductor company’s stock, valued at approximately $1,531,000.

Several other institutional investors and hedge funds have also modified their holdings of IPGP. Crewe Advisors LLC purchased a new stake in IPG Photonics in the 1st quarter worth approximately $52,000. KBC Group NV increased its stake in IPG Photonics by 50.6% in the third 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. Innealta Capital LLC purchased a new position in IPG Photonics during the second quarter worth about $85,000. Assetmark Inc. boosted its stake in IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after buying an additional 295 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of IPG Photonics by 7.7% during the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IPGP shares. Raymond James decreased their target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus lowered their price target 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Stock Down 2.1 %

IPG Photonics stock opened at $73.45 on Monday. The firm has a market capitalization of $3.18 billion, a P/E ratio of -21.17 and a beta of 0.98. The firm has a fifty day moving average of $74.70 and a 200-day moving average of $78.77. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.11.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. On average, research analysts expect that IPG Photonics Co. will post 1.53 EPS for the current fiscal year.

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.