Canada Pension Plan Investment Board Buys Shares of 5,700 IPG Photonics Co. (NASDAQ:IPGP)

Canada Pension Plan Investment Board acquired a new stake in IPG Photonics Co. (NASDAQ:IPGP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,700 shares of the semiconductor company's stock, valued at approximately $415,000.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of IPG Photonics by 56.7% during the 4th quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company's stock worth $69,000 after acquiring an additional 345 shares in the last quarter. Venturi Wealth Management LLC boosted its position in IPG Photonics by 355.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock worth $76,000 after purchasing an additional 818 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in IPG Photonics by 463.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 876 shares during the period. Headlands Technologies LLC purchased a new stake in shares of IPG Photonics in the fourth quarter valued at approximately $87,000. Finally, KBC Group NV increased its position in shares of IPG Photonics by 48.5% in the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company's stock valued at $117,000 after buying an additional 527 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company's stock.

IPG Photonics Price Performance

IPGP traded up $1.71 on Thursday, reaching $61.60. 31,389 shares of the company's stock were exchanged, compared to its average volume of 278,507. IPG Photonics Co. has a twelve month low of $48.59 and a twelve month high of $92.21. The stock has a market cap of $2.63 billion, a PE ratio of -14.80 and a beta of 0.97. The stock's fifty day moving average price is $59.12 and its 200-day moving average price is $69.31.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. As a group, research analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. CL King raised shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price target on the stock in a research note on Tuesday, March 18th. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a research report on Monday. Finally, Citigroup lowered 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, IPG Photonics currently has an average rating of "Hold" and a consensus price target of $82.80.

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.