Alliancebernstein L.P. Purchases 33,313 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Alliancebernstein L.P. lifted its stake in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 88.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,813 shares of the semiconductor company's stock after acquiring an additional 33,313 shares during the quarter. Alliancebernstein L.P. owned approximately 0.16% of IPG Photonics worth $5,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its position in shares of IPG Photonics by 10.4% during the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company's stock worth $120,000 after purchasing an additional 153 shares during the last quarter. Jane Street Group LLC grew its stake in shares of IPG Photonics by 100.4% in the third quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company's stock valued at $1,618,000 after buying an additional 10,906 shares in the last quarter. XTX Topco Ltd acquired a new position in IPG Photonics during the third quarter worth $356,000. Barclays PLC raised its position in IPG Photonics by 42.5% during the third quarter. Barclays PLC now owns 38,787 shares of the semiconductor company's stock worth $2,883,000 after acquiring an additional 11,562 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in IPG Photonics by 22.7% in the third quarter. JPMorgan Chase & Co. now owns 151,142 shares of the semiconductor company's stock valued at $11,233,000 after acquiring an additional 28,003 shares during the last quarter. Institutional investors own 93.79% of the company's stock.

Wall Street Analysts Forecast Growth

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

IPG Photonics Stock Up 2.8 %

Shares of IPGP traded up $1.47 during midday trading on Friday, reaching $53.30. 392,498 shares of the stock were exchanged, compared to its average volume of 279,011. The stock's 50 day simple moving average is $60.42 and its 200 day simple moving average is $70.39. IPG Photonics Co. has a twelve month low of $48.59 and a twelve month high of $92.21. The company has a market cap of $2.27 billion, a P/E ratio of -12.75 and a beta of 0.97.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates 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%. As a group, analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current 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.