Pacific Heights Asset Management LLC Has $22.11 Million Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Pacific Heights Asset Management LLC lifted its holdings in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 375.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 304,000 shares of the semiconductor company's stock after purchasing an additional 240,000 shares during the quarter. IPG Photonics accounts for approximately 1.4% of Pacific Heights Asset Management LLC's holdings, making the stock its 16th largest position. Pacific Heights Asset Management LLC owned approximately 0.70% of IPG Photonics worth $22,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IPGP. Versant Capital Management Inc lifted its position in IPG Photonics by 56.7% in the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company's stock worth $69,000 after purchasing an additional 345 shares during the period. Venturi Wealth Management LLC raised its stake in shares of IPG Photonics by 355.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock worth $76,000 after buying an additional 818 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of IPG Photonics by 463.5% in the fourth 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 during the period. KBC Group NV boosted its stake in IPG Photonics by 50.6% during the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company's stock valued at $81,000 after buying an additional 365 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company's stock worth $99,000 after acquiring an additional 295 shares during the period. 93.79% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of brokerages have weighed in on IPGP. Citigroup cut their price target on shares of IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a report on Tuesday, February 18th. Northcoast Research cut shares of IPG Photonics from a "buy" rating to a "neutral" rating in a report on Wednesday, December 4th. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus cut their price objective on IPG Photonics from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $87.75.

IPG Photonics Stock Down 4.4 %

Shares of IPG Photonics stock traded down $2.73 during trading on Tuesday, hitting $58.78. The stock had a trading volume of 476,819 shares, compared to its average volume of 322,800. The company has a market capitalization of $2.50 billion, a PE ratio of -14.06 and a beta of 1.04. IPG Photonics Co. has a 1 year low of $56.71 and a 1 year high of $92.21. The stock has a 50 day simple moving average of $68.60 and a 200 day simple moving average of $72.36.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted 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 positive return on equity of 2.98% and a negative net margin of 18.58%. As a group, equities analysts expect that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal 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.