Rofin-Sinar Technologies Inc. (NASDAQ:RSTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Rofin-Sinar Technologies designs, develops, engineers, manufactures and markets laser products for cutting, welding and marking a wide range of industrial materials. Through its global manufacturing, distribution and service network, the company provides a comprehensive range of laser solutions to three principal target markets for material processing lasers: the machine tool, automotive, and semiconductor/electronics industries. “

Rofin-Sinar Technologies (NASDAQ:RSTI) opened at 32.15 on Wednesday. Rofin-Sinar Technologies has a 52-week low of $19.02 and a 52-week high of $32.50. The company has a market cap of $913.51 million, a price-to-earnings ratio of 27.53 and a beta of 1.98. The stock’s 50 day moving average is $32.14 and its 200 day moving average is $31.99.

Rofin-Sinar Technologies (NASDAQ:RSTI) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The business had revenue of $125.94 million for the quarter, compared to the consensus estimate of $130.90 million. Rofin-Sinar Technologies had a net margin of 6.80% and a return on equity of 7.04%. Rofin-Sinar Technologies’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. On average, analysts predict that Rofin-Sinar Technologies will post $1.12 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in RSTI. Mason Street Advisors LLC bought a new stake in shares of Rofin-Sinar Technologies during the second quarter valued at about $177,000. Cowen Group Inc. bought a new stake in shares of Rofin-Sinar Technologies during the second quarter valued at about $374,000. Wolverine Asset Management LLC increased its stake in shares of Rofin-Sinar Technologies by 2,297.3% in the second quarter. Wolverine Asset Management LLC now owns 211,511 shares of the company’s stock valued at $6,755,000 after buying an additional 202,688 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Rofin-Sinar Technologies by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 139,788 shares of the company’s stock valued at $4,465,000 after buying an additional 2,377 shares during the last quarter. Finally, GLG Partners LP increased its stake in shares of Rofin-Sinar Technologies by 27.1% in the second quarter. GLG Partners LP now owns 51,100 shares of the company’s stock valued at $1,632,000 after buying an additional 10,885 shares during the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.

About Rofin-Sinar Technologies

ROFIN-SINAR Technologies Inc is engaged in the design, development, engineering, manufacturing and marketing of laser sources and laser-based system solutions for industrial material processing applications, which include primarily cutting, welding and marking a range of materials. The Company offers a range of laser components.

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