IPG Photonics Co. (NASDAQ:IPGP) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its stake in IPG Photonics Co. (NASDAQ:IPGP) by 4.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 21,732 shares of the semiconductor company’s stock after purchasing an additional 959 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in IPG Photonics were worth $1,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its position in shares of IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 818 shares during the period. SRS Capital Advisors Inc. lifted its stake in IPG Photonics by 463.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 876 shares in the last quarter. Headlands Technologies LLC purchased a new position in IPG Photonics in the 4th quarter valued at about $87,000. KBC Group NV boosted its holdings in IPG Photonics by 48.5% in the 4th quarter. KBC Group NV now owns 1,613 shares of the semiconductor company’s stock worth $117,000 after buying an additional 527 shares during the last quarter. Finally, Sterling Capital Management LLC increased its stake in IPG Photonics by 52.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company’s stock worth $120,000 after buying an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IPGP. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. CL King raised shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Tuesday, March 18th. Raymond James reduced their target price on shares of IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday. Citigroup dropped their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research note on Tuesday, February 18th. Finally, StockNews.com downgraded shares of IPG Photonics from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.50.

IPG Photonics Trading Up 1.5 %

IPG Photonics stock opened at $58.73 on Friday. The company has a 50-day moving average price of $59.18 and a 200 day moving average price of $68.68. IPG Photonics Co. has a 12-month low of $48.59 and a 12-month high of $92.21. The stock has a market cap of $2.51 billion, a P/E ratio of -14.05 and a beta of 0.92.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The business had revenue of $227.79 million during the quarter, compared to the consensus estimate of $227.00 million. During the same quarter last year, the firm earned $0.52 EPS. The business’s revenue was down 9.6% compared to the same quarter last year. As a group, analysts forecast that IPG Photonics Co. will post 1.54 EPS 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.