Victory Capital Management Inc. grew its stake in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 57.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,341 shares of the semiconductor company's stock after purchasing an additional 4,136 shares during the period. Victory Capital Management Inc.'s holdings in IPG Photonics were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake in shares of IPG Photonics by 56.7% in the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company's stock valued at $69,000 after buying an additional 345 shares during the period. Venturi Wealth Management LLC increased its position in IPG Photonics by 355.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock valued at $76,000 after acquiring an additional 818 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of IPG Photonics by 463.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company's stock valued at $77,000 after acquiring an additional 876 shares during the last quarter. KBC Group NV lifted its holdings in shares of IPG Photonics by 50.6% during the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company's stock worth $81,000 after purchasing an additional 365 shares during the period. Finally, FMR LLC grew its stake in shares of IPG Photonics by 10.4% in the third 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. 93.79% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Northcoast Research downgraded IPG Photonics from a "buy" rating to a "neutral" rating in a research report on Wednesday, December 4th. Citigroup reduced their target price on IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus lowered their price target on shares of IPG Photonics from $100.00 to $85.00 and set a "buy" rating for the company in a report 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 objective for the company in a research report on Tuesday, March 18th. One equities 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 issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $85.40.
Check Out Our Latest Stock Report on IPGP
IPG Photonics Stock Performance
Shares of NASDAQ IPGP traded up $3.56 during trading on Monday, hitting $67.62. 373,496 shares of the company traded hands, compared to its average volume of 260,962. The business's fifty day moving average is $66.67 and its 200 day moving average is $72.00. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -16.18 and a beta of 1.04. IPG Photonics Co. has a fifty-two week low of $56.71 and a fifty-two week high of $92.21.
IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced 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 negative net margin of 18.58% and a positive return on equity of 2.98%. On average, analysts predict that IPG Photonics Co. will post 1.54 EPS for the current year.
IPG Photonics Company Profile
(
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.
Further Reading
Before you consider IPG Photonics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IPG Photonics wasn't on the list.
While IPG Photonics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
