Ameriprise Financial Inc. increased its position in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 65.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 298,845 shares of the semiconductor company's stock after buying an additional 117,846 shares during the period. Ameriprise Financial Inc. owned about 0.69% of IPG Photonics worth $21,732,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in IPG Photonics by 212.7% in the 4th quarter. Jane Street Group LLC now owns 68,079 shares of the semiconductor company's stock worth $4,951,000 after buying an additional 46,308 shares during the period. Northern Trust Corp boosted its holdings in IPG Photonics by 17.6% in the 4th quarter. Northern Trust Corp now owns 224,959 shares of the semiconductor company's stock worth $16,359,000 after buying an additional 33,601 shares during the period. Two Sigma Securities LLC bought a new position in IPG Photonics in the 4th quarter worth $278,000. Adage Capital Partners GP L.L.C. boosted its holdings in IPG Photonics by 9.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 115,099 shares of the semiconductor company's stock worth $8,370,000 after buying an additional 10,000 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in IPG Photonics by 2.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 22,080 shares of the semiconductor company's stock worth $1,606,000 after buying an additional 630 shares during the period. Institutional investors own 93.79% of the company's stock.
IPG Photonics Stock Up 1.7%
IPG Photonics stock traded up $1.09 during midday trading on Friday, reaching $66.49. The stock had a trading volume of 275,751 shares, compared to its average volume of 287,320. IPG Photonics Co. has a 52-week low of $48.59 and a 52-week high of $92.21. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -15.91 and a beta of 0.92. The company has a fifty day moving average of $59.54 and a 200 day moving average of $68.03.
IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The business had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. During the same period in the prior year, the firm earned $0.52 EPS. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. Equities research analysts predict that IPG Photonics Co. will post 1.54 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on IPGP shares. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a report on Wednesday, February 12th. StockNews.com raised shares of IPG Photonics from a "sell" rating to a "hold" rating in a report on Thursday. Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a report on Monday, April 28th. Raymond James dropped their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a report on Wednesday, May 7th. Finally, CL King upgraded shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 target price on the stock in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $69.50.
Read Our Latest Research Report on IPG Photonics
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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