Princeton Capital Management LLC Has $390,000 Position in IPG Photonics Co. (NASDAQ:IPGP)

Princeton Capital Management LLC decreased its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 29.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,250 shares of the semiconductor company’s stock after selling 2,185 shares during the quarter. Princeton Capital Management LLC’s holdings in IPG Photonics were worth $390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of IPG Photonics during the 1st quarter worth about $52,000. KBC Group NV boosted its holdings in shares of IPG Photonics by 50.6% during the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 365 shares during the period. Innealta Capital LLC acquired a new position in shares of IPG Photonics in the second quarter valued at approximately $85,000. Assetmark Inc. increased its stake in shares of IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after purchasing an additional 295 shares during the period. Finally, Covestor Ltd lifted its holdings in IPG Photonics by 7.7% during the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after purchasing an additional 133 shares during the last quarter. 93.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on IPGP shares. Stifel Nicolaus decreased their target price on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Raymond James dropped their target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Down 0.6 %

Shares of IPG Photonics stock opened at $72.99 on Tuesday. The firm’s 50 day moving average is $74.70 and its 200 day moving average is $78.77. IPG Photonics Co. has a 1 year low of $61.86 and a 1 year high of $111.11.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 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 analysts’ expectations of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. IPG Photonics’s revenue was down 22.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. As a group, analysts predict that IPG Photonics Co. will post 1.53 earnings per share for the current 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.