Holocene Advisors LP Increases Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Holocene Advisors LP raised its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 55.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,345 shares of the semiconductor company’s stock after acquiring an additional 12,993 shares during the quarter. Holocene Advisors LP owned approximately 0.08% of IPG Photonics worth $2,701,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Covestor Ltd boosted its holdings in IPG Photonics by 7.7% in the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after purchasing an additional 133 shares in the last quarter. FMR LLC boosted its holdings in shares of IPG Photonics by 10.4% in the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 153 shares in the last quarter. Fiera Capital Corp raised its stake in IPG Photonics by 0.9% during the 2nd quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock worth $1,902,000 after acquiring an additional 193 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in IPG Photonics by 4.2% in the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after acquiring an additional 278 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in IPG Photonics by 28.3% in the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after acquiring an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Price Performance

IPG Photonics stock opened at $75.19 on Friday. The stock’s 50 day moving average price is $76.98 and its 200 day moving average price is $77.70. IPG Photonics Co. has a 1-year low of $61.86 and a 1-year high of $111.11. The company has a market cap of $3.25 billion, a PE ratio of -21.67 and a beta of 0.96.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating 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 negative net margin of 14.20% and a positive return on equity of 4.32%. The company’s revenue for the quarter was down 22.6% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. On average, equities research analysts anticipate that IPG Photonics Co. will post 1.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on IPGP shares. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Northcoast Research lowered IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock 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.