Balyasny Asset Management L.P. Raises Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Balyasny Asset Management L.P. grew its holdings in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 98.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,577 shares of the semiconductor company's stock after buying an additional 37,027 shares during the quarter. Balyasny Asset Management L.P. owned 0.17% of IPG Photonics worth $5,423,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Barclays PLC increased its holdings in IPG Photonics by 42.5% in 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of IPG Photonics by 5.5% during the fourth 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. Fisher Asset Management LLC increased its stake 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 in the last quarter. JPMorgan Chase & Co. raised its position in shares of IPG Photonics by 22.7% during the 3rd 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 lifted its stake in IPG Photonics by 375.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company's stock valued at $22,107,000 after buying an additional 240,000 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IPGP shares. CL King upgraded IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price objective for the company in a research note on Tuesday, March 18th. Citigroup reduced their price objective on IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a research note on Tuesday, February 18th. StockNews.com cut shares of IPG Photonics from a "hold" rating to a "sell" rating in a research note on Wednesday. Stifel Nicolaus set a $72.00 target price on shares of IPG Photonics in a research report on Monday, April 28th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $69.50.

IPG Photonics Trading Up 2.4 %

IPG Photonics stock opened at $60.15 on Friday. The company has a 50-day moving average price of $59.17 and a 200 day moving average price of $68.54. IPG Photonics Co. has a 12-month low of $48.59 and a 12-month high of $92.21. The stock has a market cap of $2.57 billion, a P/E ratio of -14.39 and a beta of 0.92.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted 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. The business had revenue of $227.79 million during the quarter, compared to analysts' expectations of $227.00 million. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The business's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current year.

IPG Photonics 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.

Want to see what other hedge funds are holding IPGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IPG Photonics Co. (NASDAQ:IPGP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.