Legal & General Group Plc lowered its holdings in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 196,630 shares of the semiconductor company's stock after selling 33,617 shares during the quarter. Legal & General Group Plc owned approximately 0.45% of IPG Photonics worth $14,299,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. Pacific Heights Asset Management LLC raised its holdings in IPG Photonics by 375.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company's stock worth $22,107,000 after purchasing an additional 240,000 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of IPG Photonics by 437.2% in the 4th quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company's stock worth $13,011,000 after acquiring an additional 145,616 shares in the last quarter. Raymond James Financial Inc. purchased a new position in IPG Photonics during the 4th quarter valued at about $8,815,000. Baillie Gifford & Co. boosted its stake in IPG Photonics by 34.0% during the fourth quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company's stock worth $27,310,000 after acquiring an additional 95,199 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in IPG Photonics by 1,076.7% in the fourth quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company's stock worth $6,826,000 after purchasing an additional 85,889 shares during the period. 93.79% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on IPGP. Stifel Nicolaus cut their price target on IPG Photonics from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Citigroup dropped 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. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, CL King upgraded shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price target on the stock in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, IPG Photonics has a consensus rating of "Hold" and an average price target of $85.40.
Get Our Latest Stock Analysis on IPGP
IPG Photonics Stock Performance
Shares of IPGP traded up $1.47 during mid-day trading on Friday, hitting $53.30. 392,498 shares of the company traded hands, compared to its average volume of 279,011. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -12.75 and a beta of 0.97. The stock has a 50-day moving average price of $60.42 and a two-hundred day moving average price of $70.39. 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 announced its 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%. On average, analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current year.
About IPG Photonics
(
Free Report)
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.
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