Sora Investors LLC Reduces Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Sora Investors LLC trimmed its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 39.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,000 shares of the semiconductor company’s stock after selling 55,000 shares during the period. Sora Investors LLC owned approximately 0.20% of IPG Photonics worth $6,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IPGP. KBC Group NV raised its stake in IPG Photonics by 50.6% during the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 365 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of IPG Photonics in the second quarter worth $85,000. Assetmark Inc. increased its position in IPG Photonics by 28.3% during 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 during the last quarter. FMR LLC lifted its holdings in IPG Photonics by 10.4% in the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after acquiring an additional 153 shares during the period. Finally, Covestor Ltd boosted its position in IPG Photonics by 7.7% in the third 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. Institutional investors own 93.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IPGP shares. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note 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, Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Price Performance

Shares of IPGP stock opened at $75.19 on Friday. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11. The company’s fifty day moving average price is $76.98 and its 200-day moving average price is $77.70. The company has a market capitalization of $3.25 billion, a price-to-earnings 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 for the quarter, topping the consensus estimate of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The business had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. During the same period in the prior year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 22.6% compared to the same quarter last year. Equities research analysts expect that IPG Photonics Co. will post 1.51 earnings per share for the current fiscal year.

IPG Photonics Company 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.