Steward Partners Investment Advisory LLC Sells 4,368 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Steward Partners Investment Advisory LLC reduced its position in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 89.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 502 shares of the semiconductor company's stock after selling 4,368 shares during the period. Steward Partners Investment Advisory LLC's holdings in IPG Photonics were worth $37,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC boosted its position in shares of IPG Photonics by 100.4% in the 3rd quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company's stock worth $1,618,000 after purchasing an additional 10,906 shares during the last quarter. Barclays PLC boosted its position in shares of IPG Photonics by 42.5% in the 3rd quarter. Barclays PLC now owns 38,787 shares of the semiconductor company's stock worth $2,883,000 after purchasing an additional 11,562 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of IPG Photonics by 30.1% in the 4th quarter. Fisher Asset Management LLC now owns 249,830 shares of the semiconductor company's stock worth $18,168,000 after purchasing an additional 57,780 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of IPG Photonics by 8.9% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company's stock worth $39,749,000 after purchasing an additional 43,874 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of IPG Photonics by 22.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 151,142 shares of the semiconductor company's stock worth $11,233,000 after purchasing an additional 28,003 shares during the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

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IPG Photonics Stock Down 2.0 %

Shares of NASDAQ:IPGP traded down $1.29 during midday trading on Friday, reaching $64.06. 795,669 shares of the company were exchanged, compared to its average volume of 260,179. IPG Photonics Co. has a fifty-two week low of $56.71 and a fifty-two week high of $92.21. The stock has a fifty day simple moving average of $66.67 and a two-hundred day simple moving average of $71.91. The firm has a market cap of $2.73 billion, a PE ratio of -15.33 and a beta of 1.04.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stifel Nicolaus reduced their price target on IPG Photonics from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Northcoast Research lowered IPG Photonics from a "buy" rating to a "neutral" rating in a report on Wednesday, December 4th. CL King raised IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 target price for the company in a research note on Tuesday. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Finally, Citigroup decreased their price objective on IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, IPG Photonics currently has an average rating of "Hold" and an average target price of $85.40.

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.