AQR Capital Management LLC Cuts Holdings in IPG Photonics Co. (NASDAQ:IPGP)

AQR Capital Management LLC cut its holdings in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 14.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,618 shares of the semiconductor company's stock after selling 37,123 shares during the quarter. AQR Capital Management LLC owned approximately 0.51% of IPG Photonics worth $16,039,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC grew its position in IPG Photonics by 42.5% during the 3rd quarter. Barclays PLC now owns 38,787 shares of the semiconductor company's stock worth $2,883,000 after acquiring an additional 11,562 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in IPG Photonics by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company's stock valued at $26,879,000 after acquiring an additional 19,307 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of IPG Photonics by 30.1% during the fourth quarter. Fisher Asset Management LLC now owns 249,830 shares of the semiconductor company's stock worth $18,168,000 after purchasing an additional 57,780 shares during the period. JPMorgan Chase & Co. grew its stake in shares of IPG Photonics by 22.7% in the third quarter. JPMorgan Chase & Co. now owns 151,142 shares of the semiconductor company's stock worth $11,233,000 after purchasing an additional 28,003 shares during the last quarter. Finally, Pacific Heights Asset Management LLC raised its position in IPG Photonics by 375.0% during the 4th 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 during the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Stock Up 1.5 %

IPGP traded up $0.85 on Thursday, hitting $58.73. The company's stock had a trading volume of 403,495 shares, compared to its average volume of 285,312. The company's 50 day simple moving average is $59.18 and its 200-day simple moving average is $68.68. IPG Photonics Co. has a 12 month low of $48.59 and a 12 month high of $92.21. The firm has a market cap of $2.51 billion, a P/E ratio of -14.05 and a beta of 0.92.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. The company had revenue of $227.79 million during the quarter, compared to analysts' expectations of $227.00 million. During the same period in the previous year, the business earned $0.52 earnings per share. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IPGP has been the subject of several recent research reports. CL King raised IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price target for the company in a research note on Tuesday, March 18th. StockNews.com downgraded shares of IPG Photonics from a "hold" rating to a "sell" rating in a research note on Wednesday. Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research report on Monday, April 28th. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Finally, Raymond James lowered 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 research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $69.50.

About IPG Photonics

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.