PNC Financial Services Group Inc. decreased its position in IPG Photonics Co. (NASDAQ:IPGP) by 27.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,658 shares of the semiconductor company’s stock after selling 633 shares during the quarter. PNC Financial Services Group Inc.’s holdings in IPG Photonics were worth $366,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of IPGP. Guggenheim Capital LLC raised its holdings in IPG Photonics by 276.2% in the first quarter. Guggenheim Capital LLC now owns 461,192 shares of the semiconductor company’s stock valued at $107,634,000 after acquiring an additional 338,606 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd acquired a new stake in IPG Photonics in the first quarter valued at approximately $64,250,000. BlackRock Inc. raised its holdings in IPG Photonics by 7.5% in the second quarter. BlackRock Inc. now owns 3,073,688 shares of the semiconductor company’s stock valued at $678,148,000 after acquiring an additional 215,413 shares in the last quarter. Legal & General Group Plc raised its holdings in IPG Photonics by 291.5% in the first quarter. Legal & General Group Plc now owns 265,187 shares of the semiconductor company’s stock valued at $61,889,000 after acquiring an additional 197,459 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in IPG Photonics by 47.7% in the second quarter. Janus Henderson Group PLC now owns 593,969 shares of the semiconductor company’s stock valued at $131,048,000 after acquiring an additional 191,959 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

IPGP stock opened at $161.46 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.94 and a current ratio of 8.73. IPG Photonics Co. has a twelve month low of $153.37 and a twelve month high of $264.11. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 1.76 and a beta of 1.78.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, July 31st. The semiconductor company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.01). IPG Photonics had a return on equity of 21.55% and a net margin of 25.96%. The company had revenue of $413.61 million for the quarter, compared to analyst estimates of $418.61 million. During the same period in the previous year, the business posted $1.91 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. analysts predict that IPG Photonics Co. will post 8.02 earnings per share for the current year.

IPGP has been the topic of several analyst reports. DA Davidson reduced their target price on shares of IPG Photonics to $220.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. ValuEngine cut shares of IPG Photonics from a “hold” rating to a “sell” rating in a report on Friday, August 10th. BidaskClub cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research cut shares of IPG Photonics from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, Raymond James raised shares of IPG Photonics from a “market perform” rating to a “strong-buy” rating in a report on Friday, September 21st. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $242.00.

About IPG Photonics

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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

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