Norges Bank Takes $5.63 Million Position in IPG Photonics Co. (NASDAQ:IPGP)

Norges Bank bought a new position in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 77,417 shares of the semiconductor company's stock, valued at approximately $5,630,000. Norges Bank owned about 0.18% of IPG Photonics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IPGP. FMR LLC lifted its holdings in IPG Photonics by 10.4% during the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company's stock valued at $120,000 after purchasing an additional 153 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of IPG Photonics by 515.8% during the 3rd quarter. Quantinno Capital Management LP now owns 29,932 shares of the semiconductor company's stock worth $2,225,000 after buying an additional 25,071 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of IPG Photonics by 100.4% during the 3rd quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company's stock worth $1,618,000 after buying an additional 10,906 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of IPG Photonics during the 3rd quarter worth about $356,000. Finally, Barclays PLC grew its stake in IPG Photonics by 42.5% in the 3rd quarter. Barclays PLC now owns 38,787 shares of the semiconductor company's stock valued at $2,883,000 after buying an additional 11,562 shares during the last quarter. 93.79% of the stock is owned by institutional investors.

IPG Photonics Trading Down 1.5 %

IPGP stock traded down $0.83 during midday trading on Tuesday, hitting $53.67. The stock had a trading volume of 49,668 shares, compared to its average volume of 275,654. The firm has a market cap of $2.28 billion, a P/E ratio of -12.84 and a beta of 0.97. The business has a fifty day moving average price of $61.39 and a two-hundred day moving average price of $70.78. IPG Photonics Co. has a 1-year low of $48.59 and a 1-year high of $92.21.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. On average, equities analysts anticipate that IPG Photonics Co. will post 1.54 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a research note on Wednesday, February 12th. CL King upgraded IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price objective on the stock in a research report on Tuesday, March 18th. Citigroup decreased their price target on shares of IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus dropped their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IPG Photonics has an average rating of "Hold" and an average price target of $85.40.

IPG Photonics 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.