Wealthfront Advisers LLC Makes New Investment in IPG Photonics Co. (NASDAQ:IPGP)

Wealthfront Advisers LLC purchased a new stake in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 78,078 shares of the semiconductor company's stock, valued at approximately $5,678,000. Wealthfront Advisers LLC owned about 0.18% of IPG Photonics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of IPG Photonics by 2.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company's stock valued at $72,694,000 after buying an additional 28,606 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of IPG Photonics by 37.2% during the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company's stock valued at $49,871,000 after buying an additional 181,844 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in IPG Photonics by 8.9% during 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 in the last quarter. Baillie Gifford & Co. lifted its holdings in IPG Photonics by 34.0% during the 4th quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company's stock worth $27,310,000 after purchasing an additional 95,199 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in IPG Photonics by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company's stock worth $26,879,000 after purchasing an additional 19,307 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company's stock.

Remove Ads

IPG Photonics Price Performance

NASDAQ IPGP traded down $0.22 during trading on Thursday, reaching $59.51. The company's stock had a trading volume of 369,492 shares, compared to its average volume of 324,785. The stock has a market capitalization of $2.53 billion, a PE ratio of -14.24 and a beta of 1.05. The firm has a fifty day moving average of $68.06 and a 200 day moving average of $72.18. IPG Photonics Co. has a one year low of $56.71 and a one year 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 the consensus estimate 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%. Research analysts expect that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.